Stressed Assets Investment Summit
Non-performing assets (NPA), a euphemism for soured loans, have been weighing on Indian banks’ balance sheets for the past few years. The NPAs—which now hover around $150 billion—have crimped bank lending across sectors. This, in turn, has slowed new investments by the private sector and hurt overall economic growth.
To resolve this problem, the Reserve Bank of India and the government have introduced several initiatives over the years. These include Corporate Debt Restructuring, Joint Lender’s Forum, Strategic Debt Restructuring and the Scheme for Sustainable Structuring of Stressed Assets. However, these schemes haven’t been very successful.
The enactment of the Insolvency and Bankruptcy Code is the strongest measure taken yet. But it, too, has its downsides. And one year after the code came into effect, not a single case of insolvency has reached a conclusion.
The sharpening focus on the resolution of NPAs has motivated a lot of players in the stressed asset segment to come forward. These include special situation funds, private equity investors and strategic buyers. Again, these potential investors have thus far found it difficult to close transactions for a variety of reasons.
Similarly, asset reconstruction companies (ARCs)—which were formed to clean up banks’ balance sheets by acquiring bad loans and turn around loss-making but potentially viable companies—haven’t performed to the expectations.
What are the challenges that stressed asset investors are facing? What explains the below-par performance of the ARCs? And what can authorities do to resolve these problems?
To deliberate on these challenges and opportunities in the stressed asset segment, News Corp VCCircle is organising its first edition of the Stressed Asset Summit. The half-day summit will be attended by key stakeholders – investors, promoters, banks, legal experts, regulators, ARCs and insolvency resolution professionals.
09.00am - 10.00am
Registration & Networking
10.00am - 10.15am
Opening address by
Jaideep Mehta - CEO, NewsCorp VCCircle
10.15am - 10.50am
Panel Discussion I: One year of IBC—Taking Stock
Several provisions in the IBC have been criticised by bankers, investors and company promoters. Should these provisions be amended? How effective is the IBC in resolving NPAs? Also, how are ARCs faring since the IBC was rolled out? What difficulties are the ARCs facing and how can they tackle those issues?
Parth Gandhi - Managing Partner, AION Capital
Uday Bhansali - President Financial Advisory, Deloitte India
Anurag Das - Head, Blackstone India Stressed Assets Platform & CEO-Designate, IARC
S Salee - Chief General Manager (Stressed Assets Management), SBI
Bikash Jhawar - Partner, Luthra & Luthra Law Offices
Mohit Saraf - Senior Partner, Luthra & Luthra Law Offices (Moderator)
10.50am - 11.10am
Networking Break
11.10am - 11.40am
Fireside Chat on Navigating the resolution process
Bikash Jhawar - Partner, Luthra & Luthra Law Offices
Rajiv Chandak - Partner – Corporate Finance & Restructuring, Deloitte India (Interviewee)
Ranjani R - Assistant Editor, News Corp VCCircle (Interviewer)
11.40am - 12.15pm
Fireside Chat on Project Sashakt – A new approach to expedite resolutions
Supratim Sarkar - EVP & Group Head (PA & SF), SBI Capital Markets (Interviewee)
R K Bansal - MD & CEO, Edelweiss ARC (Interviewee)
Jaideep Mehta - CEO, News Corp VCCircle (Interviewer)
12.15pm - 01.05pm
Panel Discussion II - Stressed assets investment opportunities and way forward
The segment has been drawing interest from many global investors as a large number of cases are getting referred to the National Company Law Tribunal. How do global investors perceive this segment? What are the rewards and opportunities for them? How successful are the investments through Partnerships?
Venkattu Srinivasan - Group Head of Asset Reconstruction & Structured Credit and Member of Executive Board, Kotak Mahindra Bank Limited
Sharad Bhatia - Managing Director, Multiples Alternate Asset Management
Sumit Khanna - Partner & National Head Corporate Finance & Restructuring, Deloitte India
Amit Agarwal - Head-Stressed Assets Strategy, Edelweiss ARC
Apurva Jayant - Partner, Luthra & Luthra Law Offices
Mohit Saraf - Senior Partner, Luthra & Luthra Law Offices (Moderator)
01.05pm - 01.15pm
Closing Keynote
Shalil Gupta - CBO, News Corp VCCircle
01.15pm onwards
Networking Lunch
02:30pm
Close of Conference
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.
Four Seasons Hotel, Mumbai
Date: July 25,2018
Venue: Four Seasons Hotel, Mumbai
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