Introduction

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2022, affirmed that changes have been proposed in the Insolvency and Bankruptcy Code (IBC) to enable seamless cross-border insolvency and quicker dispute resolution. She also stated that necessary amendments would be made in the IBC for more efficient dispute resolution.

In the face of mounting NPAs, the Insolvency and Bankruptcy Code 2016 helped consolidate a framework to reform laws and regulations for bankruptcy in India. A robust legal structure and level-playing field for foreign and domestic investors and defined timelines for the resolution of distressed enterprises have been inculcated in the Indian ecosystem. It's also led to India's position rising in the World Bank's Ease of Doing Business Index. It's been pivotal to build the rock on which a New India can be built. Distressed assets can provide opportunities for purchasing great assets and bring in strategic investors.

What caveats apply, amongst the hullaballoo of activity? Are the risks commensurate with the rewards? What strategies and structures need to be employed? What are the opportunities arising that need to be leveraged? What needs to be put under the spotlight in the stressed asset space? All of this and much more from bankers, investors, policymakers and other key stakeholders at India’s most compelling thought leadership forum at the VCCircle Stressed Assets Investment Summit 2022.


Agenda

9:45 AM onwards
  • 9:45 AM – 9:55 AM

    Welcome Address

    By Shalil Gupta, Business Head, Mosaic Digital & Mint

  • 9:55 AM – 10:15 AM

    Keynote: Resolution of Stressed Assets from a perspective of Indian banking system: Art or Science?

    Overview of Stressed Assets Sector in India - the Banking system is currently at an inflection point with respect to stressed assets, and while the recent prognosis on fresh slippages have improved, resolution of previous stressed assets is yet to pick satisfactory pace. In this context, what is the impact of the various initiatives taken by the Government of India & regulators in the past 4-5 years? Also, what is the outlook from an overall Banking system perspective on future prognosis and resolution? Further, how are bankers approaching the issue with respect to adopting a calibrated approach to maximize resolution/ recoveries through various strategies depending on the contours of the underlying businesses?

    By Akash Suri, Group President and National Head, Asset Reconstruction and Management, Yes Bank

     

  • 10:15 AM – 10:35 AM

    Special Address: Dealmaking and Stressed Assets

    There's a "buy low and sell high" strategy tied to distressed assets that creates a turnaround at reasonable valuations. As an investor, how can you navigate these turbulent waters? What kind of robust due diligence is required? What traps exist to ensnare investors and how can they be avoided? How can there be a creation of excess value?

    By Ankur Gupta, Managing Partner, Real Estate, Brookfield Asset Management

  • 10:35 AM – 11:00 AM

    Panel Discussion: Distressed Debt: Where Does It Go From Here?

    Before, India had robust growth and banks augmented their loan books rapidly. However, it was short-lived with project approval delays, decline in commodity prices and cost overruns. All of this led to the quantum of stressed loans in the banking system. We witnessed how the COVID-19 pandemic only vitiated that stress. The banking sector non-performing assets (NPAs) in India aren estimated at over 10% of assets at about $135 billion. Global distressed debt investors have made some waves in India, with dynamic insolvency laws breeding a credit-friendly environment. How can this regulatory regime bring out the best opportunities? How can these opportunities be leveraged? What does the road pave for India's distressed debt market?

    Speakers:
    Ambrish Singh, Managing Director - Head of Loans & Principal Investments (India), Nomura
    Prasan Dhar, Partner – Banking and Finance, Trilegal

    Moderator: Ashok Rajgopal, Partner Recovery & Reorganisation, Grant Thornton Bharat

  • 11:00 AM – 11:20 AM

    Fireside Chat: M&A: IBC's New Pathways

    Distressed asset deals usually have their own risks and complexities. The COVID-19 pandemic exacerbated these risks and complexities, making it more and more cumbersome to purchase distressed assets. The IBC regime assuaged that and provided more legitimacy to M&As. How have NPAs been restructured and rehabilitated? What's the resolution plan of the CIRP for transferring assets, acquiring shares and divestment? What are the prospects for M&A deals in 2022?

    Anshul Jain, Partner, PricewaterhouseCoopers Pvt. Ltd. in conversation with Sunil Mehta, Chairman & MD, SPM Capital Advisers Pvt Ltd & former country head AIG India

  • 11:20 AM – 11:45 AM

    Panel Discussion: Bad Banks: A Resolution For Stressed Assets?

    The banking system, brimming with losses, seems like it needs bad banks to handle stressed assets. Recently receiving regulatory approval, the NARCL would acquire NPA accounts from banks and the IDRCL would handle the debt resolution process. What are the issues to be ironed out in the present to prevent them from snowballing in the future? What are the resolution techniques to showcase brownfield assets and entice investors? How could there be effective value realization?
     

    Speakers:
    Hari Hara Mishra, Director, UV Asset Reconstruction Company Ltd.
    Sanjay Tibrewala, Chief Executive Officer, Phoenix ARC Private Ltd.

    Moderator: Anshul Jain, Partner - Deals | Tax & Regulatory, PricewaterhouseCoopers Private Limited

  • 11:45 AM – 11:50 AM

    Closing Remarks


Speakers 2022

Image

Akash Suri

Group President and National Head, Asset Reconstruction and Management, Yes Bank
Image

Ambrish Singh

Managing Director - Head of Loans & Principal Investments (India), Nomura
Image

Anshul Jain

Partner - Deals | Tax & Regulatory, PricewaterhouseCoopers Private Limited
Image

Ankur Gupta

Managing Partner, Real Estate, Brookfield Asset Management
Image

Ashok Rajgopal

Partner Recovery & Reorganisation, Grant Thornton Bharat
Image

Hari Hara Mishra

Director, UV Asset Reconstruction Company Ltd.
Image

Prasan Dhar

Partner - Banking and Finance, Trilegal
Image

Sanjay Tibrewala

Chief Executive Officer, Phoenix ARC Private Limited
Image

Sunil Mehta

Chairman & MD, SPM Capital Advisers Pvt Ltd & former country head AIG India

Our Sponsors & Partners

Associate 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.


Do you have any queries?

Drop us a line and we will call you.

I confirm that Mosaic Digital can share my information for commercial purposes with partners/sponsors and I can be contacted for business purposes.