Ajay focuses on projects and financing and has advised various investors, sponsors as well as contractors on development, construction and acquisition of infrastructure projects with focus on airports, roads and renewable energy sectors. He has also advised banks and financial institutions on lending to infrastructure projects across sectors throughout Asia Pacific region.
2004 Masters in Law, University of Liverpool, England
2003 B.SL., L.L.B., Symbiosis Law College, Pune
Expertise
Practice Areas
Infrastructure & Project Finance
Relevant Experience
Chhatwal Group Trust (Shrem) and its affiliates, in relation to acquisition of stake in 34 subsidiaries of Dilip Buildcon Limited. The total value of the assets involved was approximately USD 2.5 billion, and the deal is one of the largest deal in the road sector in terms of value of assets.
Adani Group on acquisition of two special purpose vehicles engaged in implementation of toll projects in Gujarat and Andhra Pradesh from Macquarie Asia Infrastructure Fund for INR 31.11 billion.
Adani Group in connection with their bids for privatisation of 5 airports in India, the first of its kind where 5 airports where put out for privatisation by Airport Authority of India.
Delhi International Airport Limited on the EPC Contract for expansion of Indira Gandhi International Airport, valued at approximately USD 1.5 Billion, the largest EPC Contract awarded for expansion of an airport in India.
Zurich Airports AG and Yamuna International Airport Private Limited in connection with execution of the Concession Agreement with Noida International Airport Limited as well as bid process and EPC contract for appointment of EPC contractor for development of Jewar International Airport.
Alfanar Global on development contract and various sub-contract packages in relation construction, operation and maintenance of construction villages for Neom city project, first cognitive city in Saudi Arabia.
Delhi International Airport Limited on their initial High Yield Bond Transaction, which was the first to be done by an airport operator in India, and on all subsequent High Yield Bond transactions of Delhi International Airport Limited.
UltraTech Cement Limited in relation to issuance of 2. sustainability-linked bonds aggregating to USD 400 million under Regulation S/Rule 144A of the U.S. Securities Act, 1933, India’s first sustainability linked bond.
Navi Mumbai International Airport Limited in relation to availing term loan facility of INR 127.70 billion from State Bank of India to be utilised towards construction and development of Navi Mumbai International Airport, one of the largest financing for greenfield airport in India.
Financing of the largest rooftop solar project portfolio in India held by Amplus Group.
Awards & Recognition
Ranked ‘Band 4’ at Chambers and Partners, 2023
‘Highly Regarded’ for Energy and Infrastructure; Project Development by IFLR1000, 2023 – 2019
Recognised as ‘Recommended lawyer’ at Legal500, 2022
Recognised at ‘ALB India Super 50 Lawyers’, 2023
Recognised as ‘Notable Practitioner’ for Projects Infrastructure & Energy in India by Chambers Asia Pacific, 2017 – 2020
+91 9599280461
ajay.sawhney@cyrilshroff.com
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