Photo of Surya Sreenivasan

Surya Sreenivasan

Partner in the Financing Practice at the Mumbai office of Cyril Amarchand Mangaldas. Surya has significant experience in projects and contracting, project financing and structured financing. She can be reached at surya.sreenivasan@cyrilshroff.com

TDSAT redefines aeronautical tariff setting in Indian Airports

Summary: This blog post examines TDSAT’s significant July 2025 ruling that ended a decade-long dispute over aeronautical tariff determination principles for Mumbai and Delhi International Airports. The decision mandated the use of Single Till mechanism and required back-solving the Target Revenue Formula to calculate the Hypothetical Regulatory Asset Base, overturning AERA’s previous approach.Continue Reading TDSAT redefines aeronautical tariff setting in Indian Airports

CERC’s Guidelines on VPPA Would Accelerate India’s Energy Transition

Summary: This piece examines the scope and key provisions of the Draft VPPA Guidelines, and potential impact on market participants, especially in the context of India’s ambitious energy transition goals.                                                                  Continue Reading CERC’s Guidelines on VPPA Would Accelerate India’s Energy Transition

Ship Leasing in IFSC

India has a vast coastline and easy access to shipping routes, yet India contributes only 1% in global trade.[1] Many major shipowners and operators have chosen key international maritime centres such as Singapore, Hong Kong, and Dubai as their base for operations.

To create a stimulating ecosystem that can help Indian entities compete with global marine hubs by accelerating and boosting their presence internationally, IFSCA has constituted a Committee on Development of Avenues for Ship Acquisition, Financing and Leasing Activities (“SAFAL Committee”) to obtain a complete overview and assessment of the existing legal and regulatory regime in IFSC in India for ship acquisition, financing and leasing.Continue Reading Ship Leasing in IFSC – A New Regime