Shardul S. Shroff

Mr. Shardul S. Shroff is the Executive Chairman at the Firm. He has over 39 years of experience in General Corporate, Mergers & Acquisitions, Insolvency and Bankruptcy, Securities Law, Disinvestment & Capital Markets. Mr. Shroff heads the Insolvency & Bankruptcy practice at the Firm. He is a leading authority on matters related to Corporate Governance, Mergers & Acquisitions, Government Regulation and Bankruptcy & Insolvency Law. He has been instrumental in developing these practice domains in the Firm.

Widely regarded as a pioneer in the field of Corporate Law, Mr. Shroff has participated in the training and drafting of several important economic legislations and company law reforms in India. He has recently been appointed as a member of the Company Law Committee constituted by the Government to look into recommendations on various provisions of the Companies Act, 2013 and the Limited Liability Partnerships Act, 2008. He has also been a member of the Insolvency Law Committee constituted to review the implementation of the Insolvency and Bankruptcy Code. Mr. Shroff was a member of the Committee constituted to review decriminalization of offences under the Companies Act and the Committee on crossborder insolvency, both headed by Injeti Srinivas, Secretary, Ministry of Corporate Affairs, Government of India. Under Mr. Shroff’s leadership, the Firm has been recognised as ‘Best in Insolvency’ at the Asialaw’s Asia Pacific Dispute Resolution Awards 2018.

Mr. Shroff has been on a number of other high-powered committees appointed by the Government of India including the JJ Irani Committee for amending the Companies Act, the Expert Committee on maintenance of Cost Records and Cost Audit in 2014, the Eradi Committee involved in the insolvency provisions of the Companies Act, 1956, the second Naresh Chandra Committee appointed to look into aspects of SMEs and simplification of Company Law and the Valuation Committee.

Mr. Shroff has been consistently recognised as a leading lawyer by several international fora and publications, including the Who’s Who Legal, AsiaLaw, Chambers and Partners, Legal 500, Euromoney, International Financial Law Review (IFLR) etc. Chambers and Partners has recognised him as an ‘Eminent Practitioner’ for Banking & Finance and as a ‘Star Individual’ for Corporate/M&A. IFLR1000 2020, the guide to the World’s Leading Financial Law Firms, has adjudged Mr. Shroff as a ‘Market Leader’ in the areas of Mergers & Acquisitions, Banking, Restructuring & Insolvency, Capital Markets, Energy and Infrastructure, Project Finance and Project Development.

Sanjay Tibrewala

Sanjay has over 25 years of diverse post qualification experience in the area of Finance having worked in manufacturing industry, travel services and banking and financial services. The last 12 of this has been with Phoenix ARC Pvt. Ltd, a leading ARC in India, initially as Chief Financial Officer, and currently as Chief Executive Officer.

Sanjay was a part of the initial team of Phoenix and has witnessed and influenced the changes the industry has gone through in the past decade. He has been actively involved in the entire gamut of distressed assets business; restructuring of distressed companies, resolution of NPAs through negotiations / legal means and also in acquiring portfolios and single assets from various banks and Financial Institutions all over India. 

Sanjay is a commerce graduate and a Chartered Accountant. He is also a Company Secretary and a Cost Accountant.

Vaibhav Chadha

Nirmal Gangwal

Mr. Nirmal Gangwal, is an investment banker specialising in crafting financial solutions, liabilities management, recapitalization, debt resolution, financial restructuring and divestments with over 39 years of experience. He is the founder and chairman of Brescon Group, India’s first and one of the largest independent investment bank specialized in special situations and stressed assets advisory for last two decades. Brescon & Gangwal have become synonymous with “Regenerating Value” and “Creating Opportunity in Adversity” out of special situations and stressed assets. If increase in market capitalisation of the top 25 cases is considered as benchmark for value creation, Gangwal has created 16x value for its clients leading to market capitalisation of over $13 bn. He has guided more than 300 corporates in their growth phase as well as in stress by way of liabilities management in excess of USD$ 20 bn (INR 1,40,000 crores). He has also advised public sector banks to find possible ways and means to improve upon Capital Adequacy Ratio post Basel III requirements. Well regarded by the industry for his out-of-the box thinking capabilities, he advised one of the premier public sector bank in improving capital adequacy ratio by recapitalisation of the real estate value. He has deep insights in the special situations and stressed assets market and is often regarded to have one of the sharpest financial minds across India.

He has been a thought leader in Special Situation Advisory, bringing several innovative ideas to the attention of regulators and policy makers from time to time and was part of the Working Group formulated for implementation of the latest Insolvency and Bankruptcy Code 2016 by Government of India. Recently, Mr. Gangwal is working on setting up a not-for-profit online advisory platform for helping stressed companies in the Small and Medium Enterprises (SMEs) sector wherein he plans to advise these companies in their debt resolution. The team is working on the initial beta version of the digital platform.

Utsav Baijal

Mr. Baijal is a Senior Partner and Management Director with Apollo Management’s India office. He joined Apollo the firm in its New York office in 2008 and has worked actively on private equity, mezzanine and credit investments across the US and Asian markets. In 2012, he helped Apollo establish a joint venture with ICICI Bank and helped raise one of the largest India dedicated funds, AION. Prior to Apollo, Mr. Baijal was with the private equity team at Bain Capital in Boston (from 2005 to 2008), where he worked extensively on consumer and retail opportunities.  Mr. Baijal spent five years as a consultant with McKinsey & Company across the New Delhi and Hong Kong offices and was one of the founding members of the firm’s corporate finance practice in India. During his tenure at Mckinsey, he also completed a secondment at the Indian School of Business working for the Dean’s office and assisting in several aspects of institution building. He is on the Board of several companies, including IGT Solutions and PlanetCast Media Services Limited. Mr. Baijal graduated summa cum laude from St. Stephen’s College/University of Delhi with a BA in economics. He also completed his MBA from Indian Institute of Management, Ahmedabad, where he was an Industry Scholar. He is an Aspen Fellow and the recipient of the 2018 IIMA Young Alumni Achiever Award.

Hari Hara Mishra

Hari Hara Mishra is an ex-banker from State Bank of India (SBI), having joined as a probationary officer of 1982 batch.  After two decades of working in SBI, he shifted in 2014 to join first Asset Reconstruction Company India Limited.  For last 15 years he has been working with various Asset Reconstruction Companies (ARC). At present, he is a professional director in UV Asset Reconstruction Company Ltd.  He has been part of various regulatory initiatives on ARC Sector. He was a member of leading Industry body Assocham’s special task force in 2017 to deliberate on setting up of a bad bank in India*.

He writes in various publications and speaks on various occasions and appears on print/electronic media. In 2013, he was winner of readers’ choice for 2nd annual ‘World’s great investment columnist’ contest held by Wall Street Journal’s web portal MarketWatch.

Manish Lalwani

Mr. Lalwani holds a Master’s Degree of Commerce from the Gujarat University and is also a Chartered Accountant. He has over 15 Years of experience in Distressed Assets and Financial Services Business. Mr. Lalwani has been instrumental in setting and scaling up Omkara ARC’s Operations. Prior to being the Managing Director & CEO of Omkara ARC, he was the founder director of the Areion Group - providing various services related to advisory of Stressed Assets, Insolvency Professionals, and Asset Management Company (Fund). He has driven various deals and enjoys good relationships with financial institutions and Investors. Early in his career he has worked across sectors viz. Iron & Steel, Real Estate, Hospitality, Educational, Health, Textile, and Automotive, as part of corporate restructurings and special situations.

Venkattu Srinivasan

Venkattu Srinivasan heads the Asset Reconstruction Division (ARD) at Kotak Mahindra Bank Limited.

He is part of the Bank’s Group Management Council that drives and oversees the Kotak Mahindra Bank’s growth charter.

Venkattu pioneered the business of purchasing distressed assets and Non-Performing Loans (NPL) in India and was instrumental in establishing the Asset Reconstruction Division at Kotak Mahindra Bank.

He executed the first-ever cash NPL transaction in India in 2003, and over the years has completed several restructuring initiatives to unlock value from distressed assets. His focus lies in creating new lending opportunities in the marketplace.

Venkattu has close to three decades of experience in financial services. He joined Kotak Mahindra Group in 1993, and has played a crucial role in setting up several lending businesses such as
commercial vehicle loans, tractor finance, construction equipment, farm equipment, SARAL business loans for purchase of commercial vehicles, etc.

Venkattu is on the Board of Phoenix Asset Reconstruction Company Pvt. Ltd., promoted by the Kotak Mahindra group of companies.

Venkattu is a Management Graduate from BSMED, Coimbatore and is a Cost Accountant (ICWA). He has also completed the ”Advanced Management Program” from Harvard Business School, the “Accelerated Development Program” from London Business School and the “Advanced Management Program” from Kellogg School of Management.

C S Setty

Samuel Joseph Jebaraj

Mr. Jebaraj has  about  27  years   of   experience   in  Project   &  Trade  finance. He was in-charge of the Loan Recovery & HR Groups at Exim Bank’s Head Office in Mumbai just before assuming charge as Dy. Managing Director of IDBI Bank Ltd. At EXIM, he was in-charge of the Treasury, Resources, Accounts, and IT Groups. Earlier he was in-charge of the Corporate Banking Group including SME & Agri Finance. Previously he was head of Exim Bank’s offices in London, Milan & Hyderabad.

He is a regular speaker on Banking, Trade Finance, Project Finance, SME Banking, etc. Have led various consultancy assignments for setting up a Commonwealth Exim Bank, Trade Finance Facility for Small Island States for the Commonwealth Secretariat in London, Introduction of Film Financing program for the Exim Bank of Nigeria, Setting up of an Exim Bank for the Kingdom of Saudi Arabia, etc.

He was a member of the Task Force on ‘Financial solutions for R&D in the Pharmaceutical Sector’ set up by the Ministry of Commerce & Industry, Government of India. Is also a member of the ‘BRICS Rating Agency Expert Group’ under the aegis of the BRICS Business Council.  

He represented Exim Bank as Nominee Director on a few corporate Boards. Presently represent IDBI Bank on the Boards of IDBI Capital Markets Ltd., IDBI Trusteeship Services Ltd. & IDBI MF Trustee Company Ltd.

He joined IDBI Bank as Dy. Managing Director on September 20, 2019. Directly responsible for Large & Mid Corporate Groups, NPA Management, Overseas operations, Transaction Banking, Credit Monitoring, Finance & Accounts, IT, MIS, Digital Banking & HR in the Bank.

Suraj Kalyanaraman

Suraj Kalyanaraman’s main priority is helping facilitating high-stake Strategic Transactions like M&As, IPO, Capital Raising, Audits, Restructuring, Investor and Client Communication/Collaboration, through highly secure and IRM driven technology solutions.

His B2B sales experience has been with companies providing IT and ITES services, and have worked with financial advisors and end clients across various sectors like BFSI, Infrastructure, Pharma, IT etc.

The biggest assets that he has acquired is Adaptability and Perseverance. Mr. Kalyanaraman’s education background includes a Bachelors in Technology and an MBA from NMIMS, Mumbai.

Misha

Ms Misha is a Partner in the Firm's Dispute Resolution practice with almost 15 years of experience. With the enactment of the Insolvency and Bankruptcy Code, 2016, she has been spearheading the Insolvency and Bankruptcy practice at the Firm while consolidating her experience in corporate insolvency, restructuring and banking matters under the old regime.

Misha has been involved in 10 out of the 12 largest non-performing asset (“NPA”) accounts referred for the insolvency resolution process under the Code by the central bank - Reserve Bank of India.

Some of her marquee representations include representing & advising:

• The Committee of Creditors in the corporate insolvency process initiated against Essar Steel Limited culminating in successful acquisition of Essar Steel Limited by Arcelor Mittal.
• Assisting the Solicitor General of India in Swiss Ribbons vs Union of India proceedings challenging the constitutional validity of the Insolvency and Bankruptcy Code, 2016 (the “Code”).
• The Committee of Creditors in the corporate insolvency process initiated against Amtek Auto Limited and other group companies involving complex questions of law relating to emerging jurisprudence in respect to the Code.
• The Committee of Creditors in the corporate insolvency process initiated against Bhushan Steel Limited culminating in acquisition of the company by Tata Steel Limited.
• The Resolution Professional in corporate insolvency resolution process for Bhushan Steel and Power Limited, Alok Industries Limited and Electrosteel Steels Limited.
• The Liquidator (earlier the Resolution Professional) for Lanco Infratech Limited involving complex issues relating to group insolvencies.
• ICICI Bank in respect to issues involving rights and status of the bank as mortgage holders in the Insolvency resolution process of Jaypee Infrastructure Limited.
• Rajputana Properties Private Limited, in its capacity as resolution applicant, for Binani Cements Limited. The proceedings involved representation and advise to the client in fast paced complex litigation before the National Company Law Tribunal, National Company Law Appellate Tribunal as well as the Supreme Court of India.
• JK Paper Limited in Insolvency resolution process of Sirpur Papers Limited in its capacity as a resolution applicant. The matter involved advisory and drafting of resolution plan and representation before the National Company Law Tribunal for its approval and post approval implementation issues.
• Axis Bank in Educomp group companies’ insolvency resolution processes. In one of such proceedings, represented Axis Bank on the question of treatment of claims from un-invoked guarantees in favour of financial creditors.
• Edelweiss Asset Restructuring Company in the Insolvency resolution process of Tecpro Systems Limited. The proceedings leading up to the Supreme Court settled a controversial issue of maintainability of proceedings under the Code when winding up petitions were pending against the same company under previous laws.
• Several other creditors (including asset reconstruction companies, public financial institutions) such as State Bank of India, Axis Bank, UV Asset Reconstruction Company Limited, SREI Infrastructure Finance Limited, Piramal Finance, IDBI Bank etc. in corporate insolvency resolution process involving different corporates. The representation and advice is at different stages of the process under the Code.
• International Finance Corporation, private sector as well as public sector banks such as ICICI Bank, HDFC Bank and Punjab and Sind Bank in several litigations.
• An Indian listed real estate company in an US$ 1.5 billion dispute against international financial services group in LCIA arbitration seated at London.
• A private equity dispute on behalf of international financial services group against an Indian real estate company in UNCITRAL arbitration seated at London.
• A leading media entertainment group based in South-East Asia in extensive and long drawn investigation by Central Bureau of Investigation and Enforcement of Directorate, India.

Misha regularly contributes to various thought leadership platforms, some of which are highlighted below:

• Assisted the Executive Chairman and Head, Insolvency and Bankruptcy practice of the Firm, Mr Shardul S. Shroff in deliberations and drafting of report by the Insolvency Law Committee appointed by the Government of India to review implementation of the Code. The report of the Committee was instrumental in bringing in the amendments to the Code by way of an Ordinance, which was later enacted as an Amendment Act to the Code.
• Part of the team recognised by the National Working Group tasked with formulating the draft Information Utlities regulations for their extensive recommendations.
• Regularly interacting with the Insolvency and Bankruptcy Board of India in formulation of the regulations under the Code.
• She is one of the most active partners in the firm with regard to contributing articles on important topics and issues in various esteemed journals and business publications including Indian Business Law Journal, Legal 500, and Thomson Reuters.
• Co-authored the India chapter of the HSF guide to Restructuring and Insolvency Asia Pacific in collaboration with Herbert Smith Freehills.
• Assisted Mr. Shardul S. Shroff in authoring the chapter on Collier’s International Business Insolvency Guide 2014. (Lexis Nexis).
• Panellist and speaker in number of conferences including conferences organised by FICCI and CII on insolvency and bankruptcy.

Recognition

• Recognised among the ‘Top 100 Women in Litigation 2020’ by Benchmark Litigation, Asia- Pacific.
• Awarded the ‘Dispute Resolution Lawyer of the Year’ by Asian Legal Business India Law Awards 2019.
• Recognised as the ‘Dispute Resolution Star’ in the practice of Insolvency and Taxation by Benchmark Litigation, 2019.

Sunil Mehta

Sunil Mehta is non-executive chairman at Yes Bank. He also headed Project Sashkat, which was formed under his chairmanship to help plan out a strategy for resolution of stressed assets. He is also the Chairman and Managing Director of SPM Capital Advisers Pvt. Ltd.

 

He has over three and a half decades of proven leadership experience in banking, financial services, insurance and investments with Citibank and AIG. In 2013, he left AIG where he was the Country Head & CEO for AIG India since 2000. Subsequently, he started SPM Capital Advisers Pvt. Ltd. As Country Head & CEO for AIG in India, He was responsible for all AIG businesses in India covering Insurance, Financial Services, Real Estate and Investments amongst other businesses. He set up AIG’s insurance JVs with Tatas and was also responsible for expanding AIG’s presence across ten businesses in India which included Life & Non-Life Insurance, Private Equity, Asset Management, Real Estate, Home Finance, Consumer Finance, Software Development, Mortgage Guaranty and Aircraft Leasing. He was on the Board of all AIG Companies in India and on the Board of IDFC Ltd. for several years.

 

Prior to joining AIG, Mr. Mehta worked with Citibank for over 18 years where he held various senior positions. He was asked to Chair the Committee on Resolution of Stressed Assets by the Honorable Finance Minister of India. He is closely engaged with various Think Tanks and Chambers of Commerce. He is the founding Board Member of the Asia Society India Centre and a Past Chairman of American Chamber of Commerce (AMCHAM India) and is currently on the India Advisory Board of US India Strategic Partnership Forum (USISPF). He is actively engaged with The United Way and on the Boards of United Way India and Mumbai. He was also the Chairman of both these organizations and also member of the Global Transition Board of United Way Worldwide.