Fair & Just Legal, Mandala act on ISFCL mortgage guarantee agreement with IMGC

India Shelter Finance Corporation Limited (ISFCL) has entered into a mortgage guarantee agreement of $55 million with India Mortgage Guarantee Corporation Private Limited (IMGC)..Fair & Just Legal Solutions LLP advised ISFCL with a team led by Partner Sharad Tyagi along with Saloni Sharma and Yukti Makan..Mandala Law Offices advised IMGC and the team was led by Founding Partner Raghuram Raju..ISFCL offers credit to middle-income households to acquire new housing or to extend and improve their current housing. It aims to improve the quality of living standards of middle-income families by providing affordable home loans..On the completion of this transaction, Sharad Tyagi said “We were delighted to be able to advise our client, ISFCL with the negotiation, drafting and execution of the Mortgage Guarantee Agreement. These agreements are one-of-a-kind marking an ingress of a relatively new product in India and safeguard the interest of lenders where the borrowers have defaulted. .The banking sector is already burdened with a lot of NPAs, these types of guarantee products may be instrumental in protecting the interest of lenders and may change the market scenario.”.Fair & Just Legal Solutions has also advised ISFCL on the issuance of non-convertible debentures to Franklin Templeton worth $ 14 Million approx. in June 2018..Fair & Just Legal Solutions also represented and advised ISFCL on private equity investments worth $ 28 Million approx. by private equity players in October 2017.