SNG & Partners advises SBI on sanctioning loans to Myrayash Hotels

The State Bank of India has sanctioned a term loan facility of ₹200 crores and a non-fund-based facility of ₹5 crore to Myrayash Hotels Private Limited for the construction and development of a 5-star hotel at Anjuna Beach, Goa.

This project was awarded by the Goa Tourism Development Corporation Limited through a concession agreement.

SNG & Partners has advised SBI on this transaction. The Firm played a pivotal role in facilitating this transaction which inter-alia 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 consisted of Sharad Joshi (Partner) and Namrata Mehta (Senior Associate).

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