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HomeLaw firmsSNG & Partners Advises SBI on Loan Sanction for Myrayash Hotels Project

SNG & Partners Advises SBI on Loan Sanction for Myrayash Hotels Project

SBI Approves ₹205 Crore Loan Facilities for 5-Star Hotel Development at Anjuna Beach

SNG & Partners has successfully advised the State Bank of India (SBI) on the sanctioning of a substantial loan facility to Myrayash Hotels Private Limited. SBI has approved a term loan facility of ₹200 crore, in addition to a non-fund-based facility amounting to ₹5 crore. These funds are designated for the construction and development of a luxurious 5-star hotel at the picturesque Anjuna Beach in Goa.

The prestigious project was secured by Myrayash Hotels through a concession agreement awarded by the Goa Tourism Development Corporation Limited. This development aims to enhance the tourism infrastructure in the region, contributing to Goa’s status as a premier tourist destination.

SNG & Partners played a crucial role in advising SBI throughout this transaction. The advisory team was led by Sharad Joshi, Partner, and Namrata Mehta, Senior Associate, who provided their expertise and guidance to ensure a smooth and successful financial arrangement. This transaction underscores the firm’s commitment to facilitating significant financial deals in the hospitality sector.

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