Financial Services

The banking and finance sector is the nervous system connecting the global economy, enabling business and commerce in every corner of the world. The Indian banking industry has played a central part in the country’s economic development, as well as being one of the largest national employers.

After the commercial banking sector was nationalised in 1969, the industry remained largely under government control. By 1980, the Government of India controlled 91% of the banking business in India.

It was only in the early 1990s that the government embarked on a policy of liberalisation. According to the central bank, the Reserve Bank of India, in the fiscal year of 2020 total assets across India’s banking sector–including public, private and foreign banks–increased to US $2.52 trillion.

Aarna Law has an extensive roster of clients in the finance industry, having worked with banks, financial institutions, non-banking financial companies and the new age fintechs and payment gateways. We also have a dedicated team of banking and finance lawyers who specialise in insolvency matters.

Our considerable experience in banking and finance law has enabled us to assist our clients on a wide range of legal issues including:

• Seeking relief as creditors or debtors when faced with legal problems related to bankruptcy and insolvency.
• Challenging the meger of an Indian bank with a foreign bank before the Constitutional Courts.
• Representing large banking institutions on international commercial arbitration regarding a shareholder dispute.
• Representing parties in debt recovery proceedings before various judicial institutions, including debt recovery tribunals, civil courts, the High Court, and the Supreme Court of India
• Acting for insolvency professionals before the National Company Law Tribunals (NCLT and NCLAT) and guiding them through the insolvency process to successful completion.
• Representing creditors before the NCLTs across India on insolvency proceedings.
• Advising large-scale financial creditors on the process of claims to be filed under the Insolvency and Bankruptcy Code.
• Acting for companies with stressed assets on restructuring, and for individuals on restructuring financial obligations and assets.
• Advising various multinational entities on issues connected to cross-border insolvency.
• Advising monitoring committees on the successful implementation of Resolution Plans.
• Conducting training programmes and seminars for in-house counsel on the emerging trends in insolvency litigation and latest developments in the Insolvency and Bankruptcy Code.
• Representing financial institutions, corporations, and individuals on securities litigation and arbitrations relating to insider trading, regulatory investigations, corporate governance, and complex matters concerning securities laws and regulations. We also provide representation before Adjudicating Officers, the Securities Appellate Tribunal, NCLT, NCLAT, High Court, and the Supreme Court of India.