Dhir & Dhir Associates

Known as leaders in restructuring and insolvency, the firm is one of the first entrants in stressed assets advisory space. Mr. Alok Dhir, Managing Partner is a trained Chartered Accountant and a lawyer, who started the practice of insolvency laws in the early 80s when distress asset advisory was practically unknown in the Indian context.  The firm has been a leader for the last four decades in all the legal and regulatory structures relating to resolution of corporate insolvency including BIFR, CDR, S4A, SARFAESI, DRT and M&A in the distressed assets.  This experience and expertise have propelled the Firm to become one of the leading law firms practicing in the corporate advisory and Litigation.

The firm has been advising multiple stakeholders such as Jindal India Thermal Power Ltd, Jaypee Group, Trident Infra Homes Pvt. Ltd, Romano Infrastructure Pvt. Ltd, Jain Irrigation, REC Limited, Murli Industries Limited, Wind World India Limited, Gati Infrastructure Ltd, Alchemist Township Ltd, MB Power (Madhya Pradesh) Ltd, India Infrastructure Finance Company Limited, First Step Ventures PTE Ltd, Essar Steel, Amtek Auto, Eight Capital India Recovery Fund Ltd, Avantha Holdings, Binani Cement, Essar Steel, Jindal Steel, Binani Industries, besides other clients. Some of the key deals include:

• The firm represented and advised Amtek Group, one of the largest integrated component manufacturers in India, in a matter wherein various Banks/FIs initiated action against the Companies forming part of the Amtek Group as well as its Promoter Mr. Arvind Dham under IBC2016.
• The firm represented Deccan Chargers in an arbitration with the Board of Control for Cricket in India (BCCI). BCCI lost an arbitration award to Deccan Chronicle Holdings Ltd worth USD 64 billion in a landmark judgement. The award was passed in favour of Deccan Chronicle by a court appointed arbitrator in Mumbai on premature termination of franchise.
• We have drafted pleading, advised and represented EPC Constructions India Ltd. (Essar Group) before NCLT, Mumbai against a petition filed by Bank for default of USD128 million approximately. Also advised and represented the Promoter suspended Board of Essar Steel on various legal issues, which are arising during the insolvency proceedings.
• Drafted the resolution plan for the Corporate Debtor i.e. IREO Fiverriver Private Limited under the provisions of IBC2016.
• Advised Decathlon Sports for acquiring leasehold rights on many units situated in Gurugram, Haryana. The deal involved drafting of documentation/agreement including comprehensive due diligence of the land, consultation on legal compliances, laws, regulations, permits and consents as part of the land acquisition process.
• The firm acted as the Lenders’ Legal Counsel to REC Limited, one of India’s leading public Infrastructure Finance Company in India's power sector, for the financial assistance of up to USD158 Million approx. as rupee term loan to ACME Heergarh Powertech Private Limited, for the purposes of part financing the estimated project cost of one 300 MWac/450 MWp solar PV project in the State of Rajasthan.