TT&A Advises US DFC On Loan To ManiBhavnam Home Finance

TT&A advised the U.S. International Development Finance Corporation (DFC) in providing loan facility of up to $5.17 million to ManiBhavnam Home Finance India Private Ltd.

TT&A, which assisted DFC in giving the loan facility by way of an external commercial borrowing to the Indian housing finance company, was closely involved in all aspects of the transaction, the law firm said.

TT&A was involved in undertaking a legal due diligence of the borrower’s business, reviewing and finalizing the finance agreement as well as drafting and negotiating the security trustee agreement and deed of hypothecation.

The firm also provided regulatory and corporate advice on any legal issues impacting the transaction, and assisted in the transaction closure.

Partners Gautam Saha and Pallavi Meena, Managing Associate Pratha Agarwal and Associate Karn Taneja were part of the TT&A team advising the U.S. government's development finance institution.

ManiBhavnam Home Finance was founded by siblings Meghha Gupta and Ayyushman Mehta in April 2016 to cater to the needs of affordable housing to unserved and underserved customers in rural and semi-urban markets of India, according to its website.