Harneys recently advised on a US$4 million loan by the Bank of India, Leicester Branch, to J.V. Overseas Trading Limited, a BVI company. The facility is to be used towards the financing of a joint venture in the Russian Federation, a wholly-owned subsidiary in the Republic of Kenya and a joint venture in the Republic of Sudan. The loan is secured by, amongst other things, a charge over the shares in the borrower and held by its Indian parent company, J.V. Gokal & Co Pvt Ltd. granted to the Bank of India and Union Bank of India.

 

J.V. Gokal Pvt Ltd. is part of a 50-year old group based in India with offices in India, Sri Lanka, Kenya, South Africa, Dubai, Hong Kong, Russia and Khazakstan. They are the second largest exporters of black tea from India.

 

Banking & Finance Associate in Harneys’ London office Indira Birkwood advised the Bank of India, Leicester Branch, and Union Bank of India via TLT Solicitors.