Maheen Faruqui

Education

LL.B. (Hons), University of London (External Programme), 2008
Advocate High Court
Member of the Sindh Bar Council, Karachi Bar Association and High Court Bar Association

Experience

Maheen is named as IFLR1000’s Women Leaders and is the only practitioner recognised from Pakistan; she is also named in the e-directory of the Pakistan Software Houses Association (P@SHA) on Pakistani women as a ‘ProWomen’ and was named as “Top 10 Most Influential 2023 Energy Projects Lawyers from Pakistan” by Business Today. She was nominated in the Women in Business Law Awards 2021 in the following practice areas: Competition & Antitrust and Energy, Natural Resources, & Mining and was nominated as “Best in Structured Finance” in the Euromoney Legal Media Group Asia Women in Business Law Awards (2017).

Ranked as follows in reputable legal journals:

• Chambers and Partners (Global): Band 3 in Projects, Infrastructure & Energy
• Chambers and Partners (Asia Pacific): Band 2 in Projects, Infrastructure & Energy
• IFLR (in its last ranking for Pakistan): Highly Regarded in Project Finance (Energy)
• Asia Law (in its last ranking for Pakistan): Rising Star in Banking and Finance

Maheen has worked on a diverse range of corporate matters, focusing primarily on project financing in the private power sector (wind, hydel and thermal projects), and mergers and acquisitions in the pharmaceutical, healthcare, media, banking, telecommunications, technology and oil and gas sectors. She possesses extensive experience in drafting and negotiating transaction documents and advising on the regulatory framework applicable thereto, including on matters relating to company law, anti-trust, foreign exchange, e-money, employment and labour and other contentious and non-contentious matters. Notable matters on which Maheen has advised are as follows:

• Acting for a consortium of foreign lenders in relation to a large-scale, mining project in Balochistan;
• Acting as local counsel for International Finance Corporation and a consortium of local lenders in connection with the financing to Armstong ZE (Private) Limited for its tyre manufacturing facility;
• Acting for International Finance Corporation and DEG in their capacity as foreign lenders and a consortium of local banks, including Bank AL Habib Limited, Bank Alfalah Limited and Meezan Bank Limited in their capacity as local lenders, in relation to the financing of the ‘Super Six Wind Projects’, each a 50 MW wind power project being developed by the respective project companies in Jhimpir, Sindh; reviewed and advised on the transaction documents, prepared a due diligence report and advised on conditions precedent to financial close and all Pakistan law matters;
• Acting as local counsel in various pioneer hydel projects for foreign lenders, including International Finance Corporation, Asian Development Bank, Islamic Development Bank, The Export-Import Bank of China, Export-Import Bank of Korea, China Development Bank, Industrial and Commercial Bank of China and other leading financial institutions and banks, in relation to the 79 MW hydropower project of Laraib Energy Limited, the 147MW hydropower project of Star Hydro Power Limited (Patrind), the 102 MW hydroproject of Mira Power Limited (Gulpur), the 720 MW hydro power project of Karot Power Company (Private) Limited and the 873 MW of S K Hydro (Private) Limited (Suki Kinari); scope of work included advising on all Pakistan law matters, drafting and reviewing the transaction documents and advising on conditions precedent and closing matters and, where applicable, reviewing and compiling the laws applicable in Azad Jammu and Kashmir;
• Acting for China Development Bank (including in its capacity as lead arranger) and other Chinese banks and financial institutions (as lenders), in relation to the financing of the 1124 MW Kohala hydropower project, the 700 MW Azad Pattan hydropower project and the 2 x 660 MW mine mouth power plant and a 7.8 million tons per year mine project, each chartered as a ‘prioritized/actively promoted project’ in the Pakistan-China economic corridor under the Agreement on the China-Pakistan Economic Corridor Energy Project Cooperation, between the Government of China and the Government of Pakistan;
• Acting for U.S. Development Finance Corporation in relation to its financing of each of the 50MW wind power projects of Sapphire Wind Power Company Limited, Jhimpir Power (Private) Limited and Hawa Energy (Private) Limited, including advising on the effect of the enactment of the Better Utilization of Investments Leading to Development Act 2018 in the United States of America on such projects;
• Acting for U.S. Development Finance Corporation and a consortium of Pakistani banks in relation to the financing of the 50MW Master wind power project, including advising on Islamic financing matters and drafting transaction documents and advising on a working capital facility to be advanced by Meezan Bank Limited;
• Acting for China Development Bank in connection with the financing of the 99 MW wind power project of UEP Wind Power (Private) Limited;
• Acting for International Finance Corporation, U.S. Development Finance Corporation and local lenders in connection with the debt financing of, and for International Finance Corporation in connection with its equity investment in, the 50MW wind farm of Tenaga Generasi Limited;
• Acting for National Bank of Pakistan and Habib Bank Limited as the lead arrangers of a multi-facility financing to Hub Power Company Limited for its 220 MW expansion project at Narowal, including drafting and reviewing the finance documents and issuing legal opinions;
• Acting for a consortium of Pakistani banks led by MCB Bank Limited in the financing of the 50MW wind power project of FFC Energy Limited;
• Acting for International Finance Corporation in relation to its equity investment in Alliance Healthcare (Private) Limited, for the purposes of the Northwest General Hospital in Peshawar;
• Routinely assisting foreign and local client in relation to establishing companies and branch/liaison offices in Pakistan, including preparing filings to be submitted to the SECP, including for Rehan Printers (Private) Limited and Dohler Pakistan (Private) Limited;
• Incorporating Hashmove Pakistan (Private) Limited, conducting business relating to software development, IT consultancy and relating businesses in the logistic, transport, freight and e-commerce sector;
• Acting for a Singaporean company in relation to its investment in two companies and acquisition of land from the Port Qasim Authority;
• Acting for Indus Partners in relation to its subscription of shares in Retailistan (Private) Limited, a retail technology start-up company;
• Acting for a Chinese construction company in relation to the construction of a trading exhibition center in Gwadar and on special economic zones in Pakistan;
• Advising PayPal in relation to its product launch queries arising as a result of its expansion of business to Pakistan enabling customers and merchants to receive and withdraw funds on their PayPal account;
• Conducting due diligence of Advans Pakistan Microfinance Bank Limited in relation to the acquisition of it by a development financial institution;
• Acting for Astellas Pharma on the drug and pharmaceutical regulatory regime, in particular on approvals required and the process involved to manufacture, import, advertise and package drugs, and in relation to early access schemes and market authorisations of drugs;
• Advising Burj Capital in relation to the renting of solar equipment, to be installed at the cement plant of Power Cement Limited; reviewing the equipment rental agreement, the land agreement and the regulatory framework surrounding such rental; and advising in relation to the implementation of a 500 MW solar power project in Sri Lanka;
• Participating in a global survey conducted by Baker & McKenzie in relation to the growing field of medical cannabis and attending a webinar in this regard;
• Acting for a Chinese company, and advising on operations and maintainance, licensing, remittances and employment of personnel in relation to nuclear power plants;
• Acting for International Finance Corporation in relation to its equity investment in Engro Vopak Terminal Limited;
• Acting for Joyo in connection with its launch of user incentive activities on its platform, including advising on payment systems and platforms;
• Advising JP Morgan, Standard Chartered, Habib Bank Limited, Deutsche Bank as issuers of a foreign currency bond for the Water and Power Development Authority;
• Acted as local counsel for Canva (a digital creation platform), through Baker McKenzie LLP, in relation to labour and employment matters;
• Advising Global Industry Suppliers (Private) Limited in relation to its joint venture with Hadron Solar (Private) Limited including drafting a joint venture agreement and a shareholders’ agreement and incorporation of an SPV to undertake solar power projects and in relation to its proposed acquisition of shares;
• Advised Goldman Sachs on the licensing and regulatory regime applicable to its transaction banking business;
• Acting for Ubuntu Care (Private) Limited, a day care services provider, in relation to its service agreements with various corporate entities;
• Acting as counsel for one of the largest state-owned, global engineering and construction companies in China relation to its proposed investment of more than USD 3 billion to develop the coastal areas of Pakistan (including Machar Colony) through a public-private partnership with Karachi Port Trust;
• Acting for two private equity African funds acquiring a stake in a payment company in multiple jurisdictions;
• Acting for Singapore Telecommunications in relation to its proposed merger with a major cellular mobile telecommunications provider, including conducting due diligence, advising on finance and security matters and the impact of the merger on the documents;
• Acting for the Royal Bank of Scotland group in connection with the divestment of its Pakistan business;
• Advising Agence Française de Developpement in relation to a credit facility to Aga Khan Hospital;
• Acting for Temasek Holdings (the investment arm of the Government of Singapore), and its subsidiaries in relation to acquisitions and joint ventures, including the acquisition of a majority stake in a locally listed bank; and an investment in a joint venture to carry on asset management activities;
• Advising Byco Petroleum Pakistan Limited in relation to its marketing activities and the termination of contracts, including advising on OGRA related legislation;
• Advising Indus Motor Company Limited on customs and import related matters;
• Advising China Machinery Engineering Corporation, in relation to a joint venture with Engro Corporation to develop a mine and a coal-fired power plant, including advising on competition laws;
• Acting for BE DDB, in relation to its proposed acquisition of shares in Oktopus 360 Media (Pvt) Limited;
• Advising the BW Group in relation to the entry of a FSRU time charter agreement; reviewing martime, LNG and shipping laws; and advising on activities of a branch office;
• Assisting the National Electric Power Regulatory Authority, the Central Power Purchasing Agency (Guarantee) Limited and other stakeholders, in preparing legislation related to the transition/novation of the National Transmission and Despatch Company Limited to the Central Power Purchasing Agency (Guarantee) Limited as the market operator and purchaser of power from power generation companies;
• Advising Shanghai Electric Power Company Limited in relation to the acquisition financing for K-Electric Limited; advising on the laws relating to the Central Depository Company and the mechanism of transfer/pledge of shares;
• Advising Sastaticket (Private) Limited, an online ticket booking service platform, in relation to its software development services including drafting a subscription agreement and a software development agreement;
• Advising Canadian Solar Construction S.r.l in connection with its EPC and O&M arrangements for a 50 MW solar power project in Balochistan, Pakistan;
• Advising Inditex Group in relation to its online business and labour matters;
• Advising Essity (as the seller and majority shareholder) and conducting extensive due diligence on a local company manufacturing, distributing and importing drugs and medical products;
• Advising the Hub Power Company Limited and Hub Power Holdings Limited in their respective capacities as sponsors/shareholders of Thar Energy Limited and ThalNova Power Thar (Private) Limited; conducting due diligence on the project documents and advising on the acquisition of shares;
• Acting for Industrial and Commercial Bank of China Limited in relation to a finance facility to Malik Mij Chunxing Resources Recycling Co., Ltd;
• Advising Bank of China (HongKong) Limited in relation to Pakistan law matters arising from a facility to be provided to a Hong Kong company;
• Acting for China Machinery Engineering Corporation in relation to LNTP payments to be made to it by ThalNova Power Thar (Private) Limited under the EPC contracts;
• Conducting due diligence on petroleum exploration companies on behalf of initial purchasers of senior notes, inter alia, reviewing petroleum concession agreements and petroleum exploration laws;
• Contributed/co-authored the following articles, chapters and reference guides:
  • the Energy Investment Risk Assessment Pilot Report 2017 of the Energy Charter Secretariat
  • Legal Environment Report (on Pakistan) of the “Belt and Road” Countries, published by All China Lawyers Association;
  • The International Comparative Legal Guide to: Lending & Secured Finance 2018, Pakistan Chapter
  • “Past the pit stop” published by China Business Law Journal;
  • “Revolving Account in the Energy Sector” published by Lexology;
  • ‘IBOR Transition: An Asia Pacific Perspective on Structuring RFR Based Syndicated Loans, June 2020’, published by the Asia Pacific Loan Market Association;
  • Pakistan chapter on the “Remedies for International Seller of Goods” published by the Center for International Legal Studies;
  • New Ordinance passed to Regulate the Cannabis Industry in Pakistan, ESAPA eNewsletter, May 2024;
  • Project Finance: Pakistan published in The Legal 500 Country Comparative Guides;
  • Legal 500: Legal Landscapes: Project Finance (Pakistan).

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