Nilang Desai
Senior Partner
MumbaiPractice Area
What motivates me is the privilege and opportunity of having worked on and led many of the market firsts in this area, assisting in developing its laws and regulations with regulators and ministries, influencing thought leadership on key issues through seminars, speeches, discussions with the media, influencer groups and working with some of the best restructuring and structured finance lawyers in the country.
“Nilang is a leader in the restructuring and insolvency space, an excellent lawyer with a very proactive advisory approach. He is an excellent articulator of solutions and works to find implementable solutions.”
Chambers & Partners Asia–Pacific (2023)With over 18 years of experience, Nilang Desai specialises in Restructuring & Insolvency as well as Structured Finance matters. His practice focuses on a comprehensive range of domestic and international business reorganisation and restructuring matters having acted on many market firsts in this space. Nilang also represents various banks, financial institutions, multilateral and bilateral institutions as well as borrowers in connection with Indian and offshore structured loan transactions. With extensive cross–border experience, Nilang and the market-leading team at AZB have led highly complex structuring deals in collaboration with international teams. He holds a Bachelors of Law from King’s College London, qualified as a Solicitor in England and Wales, is an Indian advocate and has qualified as a chartered accountant.
DIRECTORSHIPS, MEMBERSHIPS AND AFFILIATIONS
- Member of Working Group to propose the best practices for Insolvency Professional Entities registered as Insolvency Professionals, constituted by the Insolvency Law Academy (2023)
- Invitee to the Manoharan Committee of the RBI on revitalizing the secondary debt trading market
- Participant in the Insolvency Law Committee constituted by the Ministry of Corporate Affair (2018-2023)
- Participant in the Insolvency and Bankruptcy Board of India Committee on Prepacks under IBC (2019)
- Participant in various RBI roundtables on the IBC
- Vice President (elect) and Executive Committee Member (elect) of Insol India
- Member of the Technical Committee for Insol 2023
- Law Society of England & Wales (2008)
- Bar Council of Maharashtra & Goa (2005)
WORK HIGHLIGHTS
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On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
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On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
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GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
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On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
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Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
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On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
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On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
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On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
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On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
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On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
-
On India’s first insolvency process for a (i) Financial institutional and an (ii) Aviation company and also on the only other 2 subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
On India’s first non-performing debt acquisition transactions by international distressed assets funds using the ‘rent-an-arc’ route
-
GTL Infra on India’s first control (loan-to-own) trades by international distressed assets funds and Bharati Defence for India’s first credit bid in an IBC process
-
On its two subsequent insolvency processes for financial institutions (SREI Finance and Reliance Capital)
-
Including for Matix Fertilisers, Jindal Group, GMR Group, Alok Industries, Essar Group, BGPPL, Indiabulls, many of which transactions developed financing structures subsequently emulated by the wider market
-
On some of India’s largest and most complex special situation and restructuring processes, including Altico, GTL Infra, RCom, Matix Fertilisers, Jindal Power & Steel, GMR Infra, Bhushan Power & Steel, Hindustan National Glass, BGPPL, and Jayaswal Neco
RECENT RECOGNITION
2024
2023
2022
2021
Asialaw Profiles
‘Distinguished Practitioner’ for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
Legal 500 Asia Pacific
A ‘Leading Lawyer’ for Banking & Finance, Restructuring & Insolvency
Asialaw Profiles
‘Distinguished Practitioner’ for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
India Business Law Journal
Featured in ‘A–List of India’s Top 100 Lawyers’
Legal 500 Asia Pacific
• A ‘Leading Lawyer’ for Banking & Finance
• Named a ‘Next Generation Partner’ for Restructuring & Insolvency
Legal Era
Named a Leading Lawyer Champion for Restructuring & Insolvency
Asialaw Profiles
‘Distinguished Practitioner’ for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
India Business Law Journal
Featured in ‘A–List of India’s Top 100 Lawyers’
Legal 500 Asia Pacific
• A ‘Leading Lawyer’ for Banking & Finance
• Named a ‘Next Generation Partner’ for Restructuring & Insolvency
Legal Era
Named a Leading Lawyer Champion for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
Legal 500 Asia Pacific
• A ‘Leading Lawyer’ for Banking & Finance
• Named a ‘Next Generation Partner’ for Restructuring & Insolvency
RECENT RECOGNITION
Asialaw Profiles
‘Distinguished Practitioner’ for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
Legal 500 Asia Pacific
A ‘Leading Lawyer’ for Banking & Finance, Restructuring & Insolvency
Asialaw Profiles
‘Distinguished Practitioner’ for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
India Business Law Journal
Featured in ‘A–List of India’s Top 100 Lawyers’
Legal 500 Asia Pacific
• A ‘Leading Lawyer’ for Banking & Finance
• Named a ‘Next Generation Partner’ for Restructuring & Insolvency
Legal Era
Named a Leading Lawyer Champion for Restructuring & Insolvency
Asialaw Profiles
‘Distinguished Practitioner’ for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
India Business Law Journal
Featured in ‘A–List of India’s Top 100 Lawyers’
Legal 500 Asia Pacific
• A ‘Leading Lawyer’ for Banking & Finance
• Named a ‘Next Generation Partner’ for Restructuring & Insolvency
Legal Era
Named a Leading Lawyer Champion for Restructuring & Insolvency
Chambers & Partners Asia-Pacific
‘Band 1’ for Restructuring & Insolvency
IFLR1000
‘Highly Regarded’ for Banking & Finance and Restructuring & Insolvency
Legal 500 Asia Pacific
• A ‘Leading Lawyer’ for Banking & Finance
• Named a ‘Next Generation Partner’ for Restructuring & Insolvency