Introduction

News Corp VCCircle Stressed Assets Investment Summit 2019

Indian banks continue to grapple with the mammoth challenge of bad loans worth $150 billion. The National Company Law Tribunal has admitted about 730 bankruptcy cases in the past two years since the Insolvency and Bankruptcy Code was notified. To be sure, IBC has synergized the closure of cases involving 382 companies and recovering close to $45 billion. The fact, however, remains that less than 50 of these found buyers and that, too, at massive discount. At the same time, high-profile cases of bankruptcy have seen intense litigation between owners or majority shareholders of companies concerned and the prospective buyers and investors. Offers, counter-offers, differences, litigations, missed deadlines have been some of the challenges that have kept the process of NPA resolution on a slow track.

The challenges notwithstanding, non-performing or stressed assets continue to be an attractive opportunity for investors and that is evident from the buzz at the end of Indian as well as global private equity funds and strategic investors announcing new structures and funds to participate in the spring cleaning happening at the Indian banks.

News Corp VCCircle organized its debut Stressed Assets Summit on July 25 earlier this year. We now present the second edition of the Summit to assess the progress in the past six months, the lessons learnt and to look at the road ahead.


Agenda

10:00am - 10:10am
Opening address by

Jaideep Mehta, CEO, NewsCorp Mosaic Digital

10:10 am– 11:00 am
Panel I: Looking back at two years of IBC
Has the Insolvency and Bankruptcy Code been successful in effectively tackling the menace of NPAs? What have been the big roadblocks and what has been the success rate? Evaluating two years of IBC

Partha Dey, Sr. General Manager, ICICI Bank
Kaustubh Kulkarni, Group Head - M & A & Strategic Financing, JSW Steel
Manish Jain, Managing Director – Head of India, SSG Advisors
Sumit Khanna – Partner & Head, Corporate Finance & Restructuring, Deloitte India
Apurva Jayant, Partner, L&L Law Offices (Moderator)

11:00 am – 11:50 am
Panel II: Resolution process with and without NCLT
IBC vs. Companies Act vs. Out of court settlement vs. Pre-packaged bankruptcy scheme – which one is the better route to effective resolution? What are the pros and cons of the NCLT process, how has been investors’ response to debt resolution outside of NCLT and how has been the acceptability of the resolution plan among lenders outside of NCLT? Assessing deal-making and challenges around the legal framework.

Rajiv Agarwal, CEO and Managing Director, Essar Ports
Sandeep Upadhyay, Managing Director - Infrastructure Practice, Centrum Capital
Anurag Das, MD & CEO, IARC
Aditya Khanna, Founder, MD and CEO, ART Special Situations Finance
Nirav Pujara, Partner - Corporate Finance & Restructuring, Deloitte India
Krishnava Dutt, Managing Partner, Argus Partners (Moderator)

11:50 am – 12:10 pm
Networking Break

12:10 pm – 12:35 pm
Fireside chat on The NBFC Shocker
NBFCs were holding the fort at a time when the economy and the sentiment were coming to terms with the massive challenge of NPAs and the resolution process was being carved. Saddled with bad loans, when banks almost stopped lending, NBFCs came forward to fill in their shoes and then, IL&FS collapsed and it crushed the already down sentiment further. What did IL&FS collapse do to the macro economy, the sentiment, lending, and what it meant for the immediate and the larger stakeholders?

Jaspal Bindra, Executive Chairman, The Centrum Group (Interviewee)
Jaideep Mehta, CEO, NewsCorp Mosaic Digital (Interviewer)

12:35 pm – 1:05 pm
Fireside chat on Data preservation in an Insolvency & Stressed Asset scenario

Jayant Saran, Partner – Forensic, Deloitte India (Interviewee)
Apurva Jayant, Partner, L&L Partners (Interviewer)

01:05 pm – 02:00 pm
Networking Lunch

02:00 pm – 02:40 pm
Panel III: Designer Funding
Sensing attractive opportunities, private equity and strategic investors are coming up with innovative structures, partnerships and platforms to get hold of complex assets. A look at these vehicles and how effective they have been.

Ravindra Rao, Executive Director & CEO, Reliance ARC
Kalpesh Kikani, Sr. Managing Partner, AION Capital
Rakshat Kapoor, Partner – Private Debt, Centrum Alternatives
Ankit Doshi, NewsCorp Mosaic Digital (Moderator)

02:40 pm – 03:20 pm
Panel IV: Picking good from bad
Steel, thermal power, consumer loans and engineering, procurement and construction – which segments make for a good buy? Do investors have any sector preference? Are opportunities better in some sectors against some others? What has been the success ratio of resolution between core and non-core sectors and what have been the implications on the resolution process for businesses backed by strong asset base?

Eshwar Karra, CEO- Special Situations Fund, Kotak Investment Advisors
Sunil Varma Marri, Executive Vice President - Investment Banking and Head - Energy and Utilities, Centrum Capital Limited
Ravi Chachra, Managing Director, Eight Capital
Bikash Jhawar, Partner, L&L Partners (Moderator)


Speakers

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Jaspal Bindra

Executive Chairman, The Centrum Group
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Sandeep Upadhyay

Managing Director - Infrastructure Advisory, Centrum Capital Limited
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Partha Dey

Sr. General Manager, ICICI Bank
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Anurag Das

MD & CEO, IARC
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Ravi Chachra

MD, Eight Capital
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Eshwar Karra

CEO - Special Situations Fund, Kotak Investment Advisors
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Krishnava Dutt

Managing Partner, Argus Partners
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Aditya Khanna

Founder, MD and CEO, ART Special Situations Finance
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Rakshat Kapoor

Partner - Private Debt, Centrum Alternatives
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Kalpesh Kikani

Sr. Managing Partner, AION Capital
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Nirav Pujara

Partner - Corporate Finance & Restructuring, Deloitte India
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Sumit Khanna

Partner & Head, Corporate Finance & Restructuring, Deloitte India
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Sunil Varma Marri

Executive Vice President - Investment Banking and Head - Energy & Utilities, Centrum Capital Limited
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Manish Jain

Managing Director, SSG Advisors
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Jayant Saran

Partner - Forensic, Deloitte India
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Rajiv Agarwal

CEO and Managing Director, Essar Ports Ltd
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Kaustubh Kulkarni

Group Head - M&A and Strategic Financing, JSW Steel Ltd
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Apurva Jayant

Partner, L&L Law Offices
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Bikash Jhawar

Partner, L&L Law Offices
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Ravindra Rao

Executive Director & CEO, Reliance ARC

Our Sponsors & Partners

Co-Presenting Partner
Knowledge Partner
Presenting Partner

Want to be part of it?

VCC Events opens up the avenues for participation. Join hands to be a part of India’s largest gathering of alternative investments leaders, industry stakeholders and Asia’s influential limited partners, general partners and marquee advisors. Your chance to actively participate and augment yourself as thought leaders.


Venue :

Taj lands End, Mumbai

Date: Jan 30, 2019
Venue: Taj lands End, Mumbai


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