Deal Overview

Maheshwari & Co. had the privilege of assisting a leading global clothing brand catering to men, women, and children. The Client is widely recognized for its contemporary and essential Italian style, offering products that combine excellent value for money with a strong commitment to sustainability. This focus is reflected in its careful selection of eco-friendly materials and the adoption of responsible production processes.

In line with evolving market trends, the Client is progressively transforming its business model into a dynamic “phygital” marketplace, seamlessly integrating physical and digital retail experiences. This marketplace serves as a platform not only for its own vertical proprietary brands but also for a curated selection of guest brands, ranging from internationally renowned icons to unique and emerging labels, thereby offering customers both familiarity and the excitement of new discoveries.

Scope of Work Undertaken by the Firm

The Firm has consistently assisted the Client in ensuring compliance with applicable secretarial, regulatory, and statutory requirements essential for the smooth and legally compliant conduct of its business operations. The Firm has provided legal and regulatory advisory support in relation to various corporate and financial regulatory matters, including compliance under the Foreign Exchange Management Act, 1999 (FEMA), and other applicable laws and regulations.

The Firm has currently assisted the Client in undertaking the necessary amendments to its existing External Commercial Borrowing (ECB) arrangements, including advising on and facilitating the preparation and filing of the requisite amendment documentation and regulatory reporting with the Reserve Bank of India (RBI), through the authorised dealer bank, as applicable.

This assistance facilitated the infusion of loan funds amounting to INR 25 Crores into the Client, while ensuring compliance with the applicable requirements under the Foreign Exchange Management Act, 1999 (FEMA), and the ECB regulatory framework.

Outcome

The engagement is currently ongoing. The Firm continues to advise the client on secretarial, regulatory and FEMA compliances to support its business operations in India.

The project was led by Ms. Jyotsna Chaturvedi (Head of Corporate Practice) and Mr. Ketan Joshi (Associate Partner).