LORD BALAJI AND THE DEBT

Lord Vishnu took birth on Earth as Srinivasa. Srinivasa once went into the forests near the hills, chasing a wild elephant. He eventually ended up being drawn towards princess Padmavathi (who was none other than Goddess Lakshmi) and wanted to marry her. King Akasa (father of princess Padmavathi) stated that Srinivasa should bear the expenses of the marriage and in turn pay a dowry to marry his daughter. This left Srinivasa helpless. Srinivasa sought a loan from Kubera (God of Wealth). Kubera gave mountains of gold as loan to Srinivasa. Kubera agreed to the loan on one condition that Srinivasa cannot return to Vaikunta (heavenly abode) without paying off the debt. However, Srinivasa could never pay back the debt he took from Kubera. Hence, it is known that the devotees of Lord Balaji often offer huge amounts to help their God to repay the loan and return to Vaikuntha. The Tirupathi temple has been the residence of Lord Balaji since then.

OUR PRACTICE

Just like the repayment of Lord Vishnu’s debt to Kubera, modern day repayment of debt also has its own challenges, especially under stressed circumstances.

Our Debt Restructuring team advises clients on various aspects of indebtedness (including, refinance, rescheduling and settlement), debt recovery, debt restructuring as well as insolvency law. Our team provides practical and customized legal solutions as per the requirements of our clients. In this process, our team advises companies, bankers, funds, AIFs, investment bankers, merchant bankers, lenders, insolvency professionals, investors, resolution applicants and promoters. With the advantage of having represented lenders and borrowers over the years, our Firm has been successfully able to balance the requirements of the lender with those of the borrower.

In relation to enforcement of securities or recovery mechanism, our Firm advises clients (lenders) on remedies available to them under applicable recovery laws. Our Firm also advises clients in filing/defending suits and arbitration (both domestic as well as international) for recovery of any claims or adjudication of any disputes.

In the insolvency realm, our insolvency team has advised a wide plethora of stakeholders, be it resolution professionals, committee of creditors, home buyers, operational creditors, resolution applicants and promoters thereby addressing their various legal issues and providing bespoke solutions by understanding their perspectives.