Transaction Summary | DSK Legal | Dighi Port Limited

DSK Legal advised and assisted Mr Shailen Shah, the resolution professional (“Resolution Professional”) of Dighi Port Limited (“DPL”), with respect to its corporate insolvency resolution process (“CIRP”) under the provisions of the Insolvency and Bankruptcy Code, 2016 (“IBC”). The CIRP of DPL was commenced on March 25, 2018, pursuant to the order of the Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”) in the matter of DBM Geotechnics and Constructions Private Limited v. Dighi Port Limited.

DSK Legal advised and assisted the Resolution Professional with inter alia (i) advising in relation to the CIRP of DPL; (ii) review of claims filed by the creditors; (iii) drafting, reviewing and finalizing various correspondence to be sent to stakeholders; (iv) preparation of the information memorandum, bid documents etc; (v) reviewing resolution plans; (vi) drafting and filing applications on behalf of the Resolution Professional in the NCLT and the National Company Law Appellate Tribunal (“NCLAT”) and attending hearings in relation to same.

Thereafter, a resolution plan (“Approved Resolution Plan”) submitted by Adani Ports and Special Economic Zone Limited for DPL for an aggregate amount of approximately Rs. 680,00,00,000 (Rupees six hundred and eighty crores only) was approved pursuant to the order of the NCLT dated March 05, 2020. Pursuant to the Approved Resolution Plan, an implementation and monitoring committee (“IMC”) with the Resolution Professional as its chairman was constituted to oversee the implementation of the Approved Resolution Plan. We also advised and assisted the IMC with respect to the implementation of the Approved Resolution Plan.

The DSK team representing the Resolution Professional and the IMC comprised of the following:

Corporate Advisory: Mr Ajay Shaw (Partner), Mr Ashish Pahariya (Associate Partner), Mr Soham Mookherjee (Senior Associate) and Mr Kevin Joseph (Associate)

NCLT Team: Mr Nirav Shah (Partner), Ms Viraj Gami (Senior Associate) and Mr Ryan D’Souza (Associate)

NCLAT Team: Mr Niraj Kumar (Partner), Mr Shashank Agarwal (Principal Associate) and Mr Satendra Rai (Senior Associate)