Practice Areas

Banking and Finance
Project Finance
Real Property
Foreign Investment
Contract and Agency
Litigation
Arbitration

Experience

Mr. Ahmad Hirani is a senior solicitor and advocate in Mumbai (Bombay), and has been in practice for over forty years.  He joined Majmudar & Co. in 1973.  He has significant experience on banking and finance matters, including commercial loan documentation, letters of credit and guarantees.  He has advised on various debt finance, project finance, real property, leasing, and joint venture transactions.  He headed the legal department of Maharashtra State Finance Corporation, Mumbai (Bombay), before joining Majmudar & Co.  He is also a Notary Public.

Specific Matters

• Represented Banque de Commerce et de Placements (BCP), a large Swiss bank, in a major trade finance dispute against Canara Bank and Shri Govindraja Mills.  The litigation was over an irrevocable letter of credit issued by Canara Bank in favour of BCP , which Canara Bank could not honour, as its client, Shri Govindraja Mills, filed a suit and brought an injunction.  After prolonged litigation in three different courts, Majmudar & Co. successfully got the injunction vacated and effected full recovery for BCP.
• Represented Clico Investment Bank Limited, a leading investment bank in Trinidad and Tobago, in its US$25 million financing of Essar Steel Caribbean Limited, which is a part of the Essar goup of companies.
• Handled major restructuring and financing transactions, and general banking matters on behalf of the Industrial Development Bank of India, Industrial Finance Corporation of India, State Bank of India and UCO Bank
• Counsel to Société Générale, London, on debt restructuring of an Indian company
• Counsel to the Life Insurance Corporation of India on power and other infrastructure projects, and project finance
• Drafted the insurance regulations to open up the insurance sector in India
• Advised UTI Bank on asset securitization issues, especially the stamp duty payable on transfer of receivables
• Advised the LIC Mutual Fund on amendments to the SEBI Mutual Funds Regulations, provisions of the Indian Trusts Act, and the setting up of an investment scheme
• Handled several large securities and capital markets litigations for the Securities & Exchange Board of India and the UCO Bank
• Handled major letters of credit disputes for Wells Fargo Bank and BCP (based in Switzerland)
• Acting for large foreign, NRI and Indian real property companies, firms and REITS on Indian real property acquisitions, sales, leases and licenses, as well as foreign exchange law advice
• Conducting financial and real property legal due diligences for a number of international companies investing in India

Recommendation

Mr. Ahmad Hirani has been recommended as having “a strong reputation for banking and finance” by the Asia Pacific Legal 500.

Professional Memberships

Bar Council of Maharashtra and Goa
Bombay Incorporated Law Society
International Bar Association
Rotary International
Lodge Blackwell

Languages

English, Hindi, Gujarati and Marathi

Pro Bono

Mr. Ahmad Hirani serves as a director on the Board of The Hirani Foundation, a charitable trust.