Harsh Arora

Harsh Arora is a Partner and a member of the Banking & Finance, Real Estate and Infrastructure practice group, with over 24 years of experience advising major international and Indian banks, financial institutions, government bodies and corporate clients on their debt and equity investments, project financing, real estate and infrastructure transactions in India. His primary practice area is Banking and Finance Law.

In banking and finance, he advises on the full range of banking and finance transactions — from vanilla lending and working capital facilities to structured finance, syndicated loans and debt restructuring. His practice covers facility documentation, security structures, inter-creditor arrangements, enforcement strategies, and regulatory advisory on banking laws and RBI compliance frameworks.

In real estate, he advises on real estate transactions and development projects, including title searches, land acquisition, joint development arrangements, real estate financing and regulatory compliance. His practice covers transaction structuring for commercial and residential developments, leasing arrangements, and advisory on real estate laws.

In public-private partnerships (PPP), he has extensive experience structuring and advising on PPP initiatives across multiple infrastructure sectors, including bid advisory, concession agreements, risk allocation and government support mechanisms. His work spans engagements with central and state government authorities, statutory corporations and private concessionaires, covering both greenfield and brownfield PPP models.

In addition to his legal education, he is a member of the Institute of Company Secretaries of India.

His representative experience includes advising Deutsche Bank on providing financial assistance by way of external commercial borrowings to Dredging Corporation of India; advising Hindustan Petroleum Corporation Limited (HPCL) on the invitation of bids from various lenders for asset monetisation through securitisation of future cashflows from CODO and DODO retail outlets, and drafting and negotiating the financing documents for a term loan of INR 1453.50 crores; and advising REC Limited on a term loan facility of INR 9061.36 crores to JSP Green Wind 1 Private Limited for the development of 1400 MW wind power projects in Karnataka and Tamil Nadu.

He acted as lender's legal counsel to the Power Finance Corporation (PFC) led consortium and the SBI led consortium for term loan and working capital facilities of approximately INR 28,000 crores to KSK Mahanadi Power Company Ltd. for developing its coal-based thermal power plant in District Janjgir Champa, Chhattisgarh, comprising Units 1 to 6 with an installed capacity of 6 x 600 MW. He also advised BPEA Credit on funding to Navayuga Engineering Company Limited through subscription of unlisted, secured, redeemable non-convertible debentures aggregating INR 350 crores for a state highway project, and advised TARC Limited on the issuance of listed and unlisted, secured, redeemable non-convertible debentures aggregating INR 1400 crores to a fund managed by Bain Capital Credit, L.P.

Other matters include advising SEIL Energy India Limited on a rupee term loan of INR 250 crores for refinancing outstanding commercial papers from Kotak Mahindra Bank; advising the International Finance Corporation (IFC) and the Directorate of Medical Education and Research, Mumbai, on the development of radiology centres with advanced diagnostic equipment on a PPP basis at 19 medical college hospitals across Maharashtra; advising IFC and Bhubaneswar Municipal Corporation on building a greenfield municipal hospital on a PPP basis in Bhubaneswar and upgrading five dispensaries run by BMC; advising the Ministry of Defence, Government of India, on capital procurement under the Strategic Partnership Model; advising IFC on assisting the Government of Jharkhand to augment its health infrastructure through PPP; and advising the Government of Goa on the development of a greenfield airport at MOPA on a PPP basis.

He has also advised an independent power producer on title due diligence of land measuring approximately 5,100 acres in various districts of Rajasthan for the development of power projects, and on pre-acquisition title due diligence of land measuring approximately 244.37 acres in District Kurnool, Andhra Pradesh; advised a leading producer of solar module mounting structures on title diligence of land measuring 192.902 acres in various districts of Maharashtra; and advised IndusInd Bank on title due diligence of land located in various districts of Assam acquired by Dalmia Cement (North East) Limited for the development of cement factories, proposed to be mortgaged to secure funding.