About

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 been instrumental in 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 a massive discount. At the same time, high-profile cases of bankruptcy have seen intense litigation between owners or majority shareholders of companies and the prospective buyers and investors.

Offers, counter-offers, differences, litigations, missed deadlines 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. These investors have struck alliances, floated new vehicles and launched 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

January 30, 2019 | Mumbai
10:00am - 10:10am Opening address by

Jaideep Mehta, CEO, NewsCorp Mosaic Digital

10:10am - 10:20am Welcome Address by

Centrum

10:20am - 11:05am 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

11:05am - 11:50am 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.

11:50am -12:10pm Networking Break
12:10pm – 12:40pm 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?

12:40pm – 01:45pm Networking Lunch
01:45pm - 02:30pm 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.

02:30pm - 03:10pm 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?

SPEAKERS

Jaspal Bindra

Executive Chairman, The Centrum Group

Mr. Jaspal Bindra is the Executive Chairman of The Centrum Group – a leading domestic integrated financial services group. He is a seasoned Banker with a successful global MNC career of over 30 years. He was previously the Asia-Pacific Head of Standard Chartered Bank and has also worked with Bank of America & UBS. He has vast expertise in all areas of banking including Treasury, Capital markets, Investment Banking and Consumer Banking.

Under his leadership, the Centrum Group has diversified its operations from a fee based business to a fee cum lending model with the introduction of Housing Finance, SME & Micro Finance businesses.

He is currently the Chairman of FICCI’s Maharashtra Council and a Governing Board Member of XLRI.

Sandeep Upadhyay

Managing Director - Infrastructure Advisory, Centrum Capital Limited

Sandeep Upadhyay joined Centrum Capital Limited in June 2008 and is currently serving as Managing Director of Infrastructure Practise at Centrum Capital Limited. As a senior Coverage Banker he is responsible for covering the Stressed asset resolution apart from leading Investment Banking initiatives across core sectors like Transportation, Logistics, Energy & Utilities space.

He is an alumnus from XLRI, Jamshedpur besides holding a Post Graduate Degree in Project Management specialising in Infrastructure sector alongwith a Bachelor’s degree in Civil Engineering from Gujarat University. He has over sixteen years of extensive experience in raising Private Equity, Project Finance and advising Government & established private sector clients on M&A, Stressed asset resolution and Bidding initiatives.

Prior to Centrum, he worked with SBI Capital Markets and with IL&FS Group in financial advisory and fund raising domain on marquee Infrastructure Projects.

Partha Dey

Sr. General Manager, ICICI Bank

Anurag Das

MD & CEO, IARC

Ravi Chachra

MD, Eight Capital

Eshwar Karra

CEO - Special Situations Fund, Kotak Investment Advisors

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