DVA acts for RBL Bank on USD9.35m loan to Ripley Prosperity

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DVA RBL Bank loan Ripley Prosperity
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Dhaval Vussonji & Associates (DVA) has acted as the principal transaction counsel for India-based RBL Bank’s USD9.35 million loan to Ripley Prosperity, a company incorporated in Dubai.

The funds are earmarked for the strategic acquisition of a bulk cargo vessel named MV Thor, which will enhance the company’s chartering services.

Managing partner Prachi Dave led the deal with assistance from senior associate Ipshita Mukherji and associate Shivani Doshi. The team managed negotiations, and co-ordinated the transfer of information across all stakeholders. The team also fulfilled all funding requirements, including tax and corporate compliances, document execution and mortgage registration.

DVA advised RBL Bank IFSC Banking Unit at GIFT City on the structure of the loan, timelines and funding documentation.

The transaction involved third-party legal matters across multiple jurisdictions – including the UAE, Liberia, England and India – during document execution and registration.

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