Mint Stressed Assets Investment Summit 2017

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Overview

Stressed assets on the books of Indian banks are higher than the net worth of the entire sector, revealed McKinsey & Co. in a  recent report. The situation is most acute for public sector banks where stressed assets are now about 50 percent higher than the total net worth of these lenders. The stagnant credit growth in a low interest rate environment; a high level of stressed assets; and dramatic changes in the technological and regulatory environment are creating a perfect storm-like condition for the Indian banking sector. Rightly so, the first edition of the Mint Stressed Assets Summit clearly laid out the opportunity set present with the investors with its theme ” Investing in a perfect storm”.

Further, the implementation of the IBC has been one of the most important reforms in recent years. Banks and other creditors can now take the defaulting company to the National Company Law Tribunal to initiate insolvency proceedings. There is now a real chance that promoters can lose control and are no longer in a position to take creditors for a ride. Added to that, the amendments are likely to make it more difficult for promoters to regain control.Overall, the changes will make the insolvency resolution process more robust and make things difficult for unscrupulous promoters.

To deep dive into some of these conversations and more, Mint organised its second edition of its very successful Mint stressed assets Investment Summit that witnessed key relevant stakeholders – investors, promoters, banks, legal experts, ARCs, IRPs under one roof.

·         Panel 1: Making money from junk

·         Panel 2: IBC- The holy grail

·         Panel 3: Asset Reconstruction companies- Rethinking the way forward

Highlights

  • Panel 1: Making money from junk
  • A look at classic distressed private equity players who are using the opportunity to buy controlling stakes in the distressed businesses at a deep discount under the resolution plan formulated pursuant to IBC.
  • How specialist players are looking into these current 12 cases and many more in the Indian context where they would look at the opportunity to step in and restructure businesses to create value
  • A look at another set of players who are purely focussed on the debt side of it, from where mezzanine and high yield products can be derived to fund restructured debt.
  • Carving out an opportunity by interim finance providers who would look to capitalise on the opportunity to fund companies under a resolution process through a high yield senior debt.
  • Will we see more ‘pre-pack’ deals wherein a promoter works effectively with the investor on pre-agreed terms and present that as a restructuring package?
  • Panel 2: IBC- the holy grail
  • What role can IRPs play in ensuring resolutions are met with high corporate governance standards?
  • What are the key things that investors should be cognizant of?  Are foreign investors looking at bragging rights, (investing in companies that they can brag about), and not factoring that they need to work with the promoters..?
  • What are the key challenges being faced in closing such of deals?
  • Banks or capital providers – who has an upper hand during negotiations?
  • Are hostile takeovers expected to be a reality anytime soon?
  • Are banks willing to take haircuts? Is that still a question of negotiation?
  • Panel 3: Asset Reconstruction Companies- Rethinking the way forward
  • How are investors and ARCs turning around bad assets?
  • ARCs do not necessarily have a track record to share. Why have they not been able to instill confidence?
  • How ARC’s are moving beyond being lender of last resort?
  • Are ARC’s really adding value or engaging in liquidation via piecemeal? -Why is so much private equity interest in ARCs?

Theme

Mint Stressed Assets Investment Summit

Speakers

Parth Gandhi
Parth Gandhi, Managing Director, AION

Avnish Mehra, Managing Director, Everstone Capital Advisors
Avnish Mehra, Managing Director, Everstone Capital Advisors

Eshwar Kara, CEO, Phoenix ARC Private Limited
Eshwar Kara, CEO, Phoenix ARC Private Limited

Nishant Parikh, Partner, Trilegal
Nishant Parikh, Partner, Trilegal

Rajiv Kochhar, Founder, Managing Director & CEO , Avista Advisory Group
Rajiv Kochhar, Founder, Managing Director & CEO , Avista Advisory Group

Shri. Supratim Sarkar, EVP & Group Head, SBI Capital Markets Ltd.
Shri. Supratim Sarkar, EVP & Group Head, SBI Capital Markets Ltd.

Nikhil K. Srivastava - Director, Kohlberg Kravis Roberts & Co.
Nikhil K. Srivastava, Director, Kohlberg Kravis Roberts & Co.

shyam
Shyam Maheshwari, Chief Executive Officer, SSG Capital Management *

Haseeb Malik- Senior Managing Director, Varde Partners
Haseeb Malik- Senior Managing Director, Varde Partners

Uday bhansali
Uday Bhansali President , Financial Advisory, Deloitte Touche Tohmatsu India LLP

Sumit Khanna
Sumit Khanna, Partner & National Head, Corporate Finance & Restructing, Deloitte Touche Tohmatsu India LLP

Shantanu Nalavadi
Shantanu Nalavadi, Managing Director, India Resurgence Asset Management Business Pvt. Ltd

Mythili Balasubramanian - Executive Director, IDBI Bank
Mythili Balasubramanian, Executive Director, IDBI Bank

Sunil Srivastava- Dy. Managing Director, SBI
Sunil Srivastava, Dy. Managing Director, SBI

Sharad Bhatia- Managing Director, Multiples Alternate Asset Management
Sharad Bhatia, Managing Director, Multiples Alternate Asset Management

Rudrapriyo Ray- President – Structured Finance Group, Axis Bank
Rudrapriyo Ray, President – Structured Finance Group, Axis Bank

Venkattu Srinivasan- Group Head of Asset Reconstruction & Structured Credit and Member of Executive Board at Kotak Mahindra Bank Limited
Venkattu Srinivasan, Group Head of Asset Reconstruction & Structured Credit and Member of Executive Board at Kotak Mahindra Bank Limited

Venkattu Srinivasan- Group Head of Asset Reconstruction & Structured Credit and Member of Executive Board at Kotak Mahindra Bank Limited
Nalin Kumar, Executive Vice President, IDBI Capital Markets

Harsh Pais-Partner, Trilegal
Harsh Pais, Partner, Trilegal

Prabir Neogi- Chief Executive - Corporate Affairs-FICCI
Prabir Neogi, Chief Executive – Corporate Affairs-FICCI

Venue and Date

7th December, 2017 | Mumbai

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