Verus advised Aditya Birla Retail on its Rs 500 crore unsecured, unlisted, redeemable non-convertible debentures issued to Yes Bank. The investors were advised by Wadia Ghandy.

Verus partner Jay Parikh and associate Aastha Khurana acted for Aditya Birla.

Wadia Ghandy partner Nihaas Basheer acted for the existing investors.

Aditya Birla borrowed the amount from Yes Bank to ramp up its food and grocery business, according to the Economic Times which added that big Indian retailers have previously accumulated losses because they went on an expansion spree.