Khaitan & Co Acts As Legal Counsel For VentureSoul Partners

Khaitan & Co acted as the legal counsel for VentureSoul Partners (“Investor”), in relation to their debut investment in unlisted, secured, redeemable non-convertible debentures (NCDs) aggregating to INR 20 crores issued by True Credits Private Limited (“Issuer”), a non-banking financial company (NBFC) registered with Reserve Bank of India as a NBFC since 2019 and having an overall assets under management of more than INR 1200 crores, with over 9 lakh active customers. 

The proceeds of the NCDs shall be utilised by the Issuer for the growth of its lending business. The NCDs are backed by a corporate guarantee by its holding company, Balancehero India Private Limited (BHI). BHI runs and operates “True Balance”, (the RBI-authorised PPI issuing entity and emerging lending platform).

The core team consisted of Rajeev Vidhani (Partner), Savni Tewari (Principal Associate), Mansi Mishra (Associate) and Sarika Jhanwar (Associate).

The firm assisted the Client in: (i) drafting, reviewing, negotiating, revising and finalising the transaction documents; (ii) supervising the completion of the conditions precedent to the transaction; and (iii) execution of the transaction documents.