K Law Advises Consortium Led by Karnataka Bank on Financing Mysore

Krishnamurthy & Co. (K Law) advised a lenders' consortium led by Karnataka Bank Limited, including Indian Bank, while Indus Law advised certain borrower-side entities. The transaction concerns large project financing facilities sanctioned to Mysore Kushalnagara Highways Private Limited, a special purpose vehicle established by D. Y. Uppar & Sons, for the construction of an access-controlled four-lane section of National Highway 275. The works cover the Mysore–Kushalnagara stretch from km 122.200 near Guddehosur (Kushalnagara bypass) to km 144.900 at the SH‑21 Hassan–Periyapatna Road junction in Karnataka. The project is being financed on a hybrid annuity model. The highway forms part of the Mysore–Madikeri Economic Corridor (also known as the Mysore–Madikeri Expressway), which will connect Mysore and Coorg and is envisaged to link with the Bangalore–Mysore Expressway. The corridor is a component of Bharatmala Pariyojana Phase I; the foundation stone for the Mysore–Madikeri Economic Corridor was laid by Prime Minister Narendra Modi in 2023. K Law was engaged in structuring the transaction and in drafting, negotiating and finalising the financing and security documentation. The firm also liaised with the National Highways Authority of India on various legal and regulatory matters arising from the project. The financing was structured with additional undertakings and guarantees provided by the promoters, D. Y. Uppar & Sons, and KMC Constructions Limited, alongside the customary project securities to ring‑fence the lenders' exposure. Krishnamurthy & Co. (K Law) represented the lenders' consortium comprising Karnataka Bank Limited and Indian Bank with a team composed by: Zeeshan Khan (Partner) — lead, supported by Anirban Roy Choudhury (Principal Associate) and a team of associates. The team acted as lenders' legal counsel on project finance and security documentation. Indus Law represented certain borrower-side entities with a team composed by partners and associates from its infrastructure and project finance practice.

K Law Advises Consortium Led by Karnataka Bank on Financing Mysore–Kushalnagara Section of NH-275

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K Law Advises Consortium Led by Karnataka Bank on Financing Mysore–Kushalnagara Section of NH-275

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