SNG & Partners advises SBI on sanctioning loans to Myrayash Hotels

July 6, 2024

The State Bank of India has approved a term loan facility of ₹200 crores and a non-fund-based facility of ₹5 crores to Myrayash Hotels Private Limited for the construction and development of a 5-star hotel at Anjuna Beach, Goa. This project was awarded to Myrayash Hotels through a concession agreement with the Goa Tourism Development Corporation Limited.
SNG & Partners advised SBI on this transaction, playing a crucial role in facilitating it. Their responsibilities included conducting due diligence on the concession agreement and related documents, drafting, negotiating, and finalizing facility and security documents, and providing legal advisory and documentation support.
The transaction team from SNG & Partners comprised Partner Sharad Joshi and Senior Associate Namrata Mehta.

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