Arya Madhani

I am an aviation finance associate with three years of experience at AZB & Partners, one of India's leading law firms, advising international banks, airlines and lessors on aircraft financing, cross-border leasing structures (including through GIFT-City), security documentation, regulatory filings, legal opinions with regular co-ordination alongside international counsel. I have advised on over 100 aircraft acquisitions through GIFT-City in the last three years.

Associate - AZB & Partners - Mumbai

(2023-07)

Aviation Finance

• Represented international lessors and lenders, including Macquarie Air Finance, DBS Bank, Standard Chartered Bank (ANPI backed financing), The Korea Development Bank, Aviation Capital Group, Crédit Agricole CIB and JP Morgan Asset Management on Indian law aspects of aircraft leases with IndiGo and other Indian carriers, including Aviation Authority letters, jurisdictional questionnaires, legal opinions and lease agreement negotiations.
• Represented Air India on the cross-border financing of multiple wide-body aircraft (B777, B787, A350) arranged by various domestic and international banks including Société Générale, MUFG, HSBC (ANPI backed financing), Standard Chartered Bank, Axis Bank (34 trainer aircraft) and Bank of India leading Indian law work streams including security documentation (mortgages, security assignments, DPOAs), letters to the Aviation Authority, stamp duty analysis and conditions precedent management, coordin
• Advised the Tata Group in the merger of Vistara, which is a 51:49 joint venture between Tata Sons Private Limited and Singapore Airlines Limited into Air India Limited. Drafted documentation with respect to the transfer and novation of operating and finance leases across a large commercial aircraft fleet and preparation of associated regulatory and Aviation Authority filings.
• Advised FLY91 on (i) the lease of two ATR 72-600 aircraft from DAE through GIFT City and purchase of one ATR 72-600 aircraft; (ii) purchase of two ATR 72-600 aircraft from offshore seller; and (iii) sale and lease back of two ATR 72-600 aircraft from TrueNoord. Managed end-to-end Indian law deliverables including lease documentation, IDERA registrations, Aviation Authority filings, escrow arrangements and closing co-ordination with lessor's English law counsel.
• Advised Virgin Atlantic on various advisory matters in India ranging from employment to regulatory
• Advised various Indian corporate houses (such as RMZ Group, Embassy Group, MRG Group, Allanasons) on acquisition of corporate jets in India including on chartering arrangements and advising on ownership structures through GIFT-City, the regulatory framework governing cross-border aircraft acquisition and private operation under Non-Scheduled Operator's Permits, including DGCA licensing, foreign exchange regulatory compliant structuring and leasing arrangements for private jets.
• Represented the firm in participating as a sub-committee member in the IFSCA working group for amendment of SEZ Rules, Rule 29A governing GIFT City aircraft leasing. Contributed to regulatory drafting and representing AZB's position across multiple sessions with government and industry stakeholders.
• Advised various banks and leasing entities on the practical implications in relation to repossession of aircraft from India and invocation of rights under Indian law governing de-registration powers of attorney and irrevocable deregistration, and export request authorizations (IDERA) under the Cape Town Convention.

Associate - AZB & Partners - Mumbai

(2023-07)

Banking & Finance

• Advised on cross-border ship financing for Yangzijiang (Oceanic Dream), including assisting the security providers on Indian regulatory filings.
• Advised on financing documentation for secured debt transactions for financiers such as JM Financial and the Shapoorji Pallonji Group, including corporate guarantees, indentures of mortgage, pledge agreements, deeds of hypothecation and escrow agreements.
• Prepared an Indian law memorandum on aircraft security enforcement for ICICI Bank in connection with an aircraft security transaction, addressing security creation, perfection and enforcement mechanics under Indian law.
• Advised on several the private placement of non-convertible debentures. Prepared transaction documentation and regulatory filings.
• Drafted and reviewed financing documentation for secured debt investors, including debenture trustee agreements and common security trustee arrangements.

Associate - AZB & Partners - Mumbai

(2023-07)

Corporate Transactions & Due Diligence

• Advised Premji Invest, 360One, and Claypond on their investment in SNV Aviation Private Limited (Akasa Air).
• Conducted financing due diligence for Tata Motors, reviewing over 1,100 facility agreements and derivatives documents.
• Led the financing section of legal due diligence for KKR & Co.'s acquisition of Straive and Infinix Services, reviewed credit facility documentation and material financing arrangements, prepared the Issues Report and advised the deal team on conditions precedent and disclosure requirements.
• Reviewed the regulatory approvals, material contracts and aviation regulatory compliances of SNV Aviation Private Limited (Akasa Air) for a legal due diligence.

B.L.S. LL.B - Law - Government Law College, Mumbai (2023-05)

Diploma - Intellectual Property Rights - Government Law College, Mumbai (2022-05)

ISC - Class XII - Jamnabai Narsee School, Mumbai (2018-05)