Ajit Gulabchand-led Hindustan Construction Co. Ltd (HCC) has completed the first litigation funding deal in the engineering procurement construction (EPC) sector in India, with a consortium of investors led by BlackRock Inc. Under the deal, HCC will monetize a pool of arbitration awards and claims in exchange for an upfront cash payment, which will allow the company to repay debt and meet its working capital needs. HCC will use the ₹1,750 crore to prepay debt of ₹1,250 crore, including its entire term loan of ₹942 crore that is due in the next three years, and ₹308 crore of optionally convertible debentures. The remaining ₹500 crore will be used to fund working capital and business growth.