Photo of Shrey Srivastava

Associate in the Project Finance & Infrastructure Projects practice at the Delhi office of Cyril Amarchand Mangaldas with a special emphasis on financing and restructuring transactions. He has advised clients across a wide range of products in projects, project financing, security enforcement, structured financing, leveraged and acquisition financing, asset financing and debt restructuring across various sectors including solar, thermal, wind, road, ports and aviation. Shrey can be reached at shrey.srivastava@cyrilshroff.com

Change is inevitable. Growth is optional.

– John Maxwell

Covid-19 has seen the legal landscape leapfrog into digital courts, electronic filings and asynchronous video hearings. The change has been fundamental and deep deliberations are currently underway for the systemic adoption of a new normal. Such a material shift often facilitates rapid adoption of other innovations that were hitherto stuck at the threshold of a conservative mindset. We believe that Third Party Funding of litigation is one such legal innovation that will now come of age in India.


Continue Reading Cash constrained and need to litigate? Third Party Funding may be the solution

Covid-19 - Flight Plan for Indian Aviation Industry

Covid-19 crisis has severely impacted almost all industries but disruptions in the airline industry is so profound that it is assumed to be greater than the combined crises of 9/11 and the 2008 global financial put together. The Government of India (acting through DGCA) (“GoI”) has vide its (i) order dated March 23, 2020 passed under Section 88(1) of the Aircraft Act, 1934; and (ii) orders dated March 26, 2020 and April 14, 2020 directed inter alia all aircraft operators to suspend the operations of all the domestic flights and all scheduled international commercial passenger services until May 3, 2020. The forward air travel bookings are far outweighed by the cancellations. Air travel demand is drying up in ways that are unprecedented with no semblance of normalcy on the horizon. For an industry which is already stressed, Covid-19 has only accelerated the process of bankruptcy filing by several companies (like Virgin Australia and Air Mauritius). Those airline companies which are still in business have also suffered misfortunes as coronavirus-forced lockdowns have kept their fleets grounded. Per the market sources, apart from the pay cut, several airline companies (Indigo, Go Airlines) have also taken other cost cutting measures including furloughs.
Continue Reading Covid-19: Flight Plan for Indian Aviation Industry