Evolving Structures and Trends for Distressed M&A/PE in India post the New Bankruptcy Code

 

Thursday, November 23, 2017

SESSION: 4:00 PM TO 6:30 PM (IST)

VENUE: MUMBAI – BKC AUDITORIUM, NISHITH DESAI ASSOCIATES, 2ND FLOOR, 3, NORTH AVENUE, MAKER MAXITY, BANDRA-KURLA COMPLEX, MUMBAI – 400 051, INDIA

 

PRELUDE

Turning the corner on an all-time high Non-Performing Assets (NPAs), the introduction of a revised insolvency resolution process (IRP) last year has been a shot in the arm for the distressed assets market. Acknowledging the over-levered state of the market, the IRP invites fresh equity capital to revitalize these enterprises. This in turn has provided investors/acquirers with investment avenues in to some lucrative distress opportunities. From the transfer of insolvency proceedings to the National Company Law Tribunal to the initiation of the first few IRP M&A deals, several learnings have emerged for players in the stressed-assets space. More recently, various regulators have introduced reforms which have smoothened the path for potential investments in and acquisitions of distressed assets, making M&A and PE in the space more viable than ever before.

Focus Area

The new IRP – is there really a window of opportunity?

  • Stages in the IRP and potential for new investors/acquirers

  • Practical challenges to deal making

  • Deal timelines

Learnings since 2016

  • How stressful are stressed asset deals? How do they differ from regular acquisitions?

  • Dealing with regulators and the NCLT

  • Key stakeholder considerations

Regulatory and Tax Aspects

  • Changes in regulations and regulatory coherence – SEBI and Exchange Control

  • What avenues work and what don’t?

  • Key stakeholder considerations

Looking Ahead

  • Comparing the Indian regime with international practices

  • How do we progress from here? Discussing the wish list

Flow of the session

4:00 PM – 4:30 PM :

Registration and distribution of relevant material for the session

4:30 PM – 6:00 PM :

Panel discussion

6:00 PM – 6:30 PM :

Q&A

6:30 PM onwards :

Cocktails at The LIMA Bar, Maker Maxity

Speakers

NISHCHAL JOSHIPURA

Leader - Private Equity and M&A, Nishith Desai Associates

Nishchal Joshipura heads Mergers & Acquisitions and Private Equity Practice at the firm. He is a Lawyer, Chartered Accountant and MBA. Nishchal has led several high profile M&A and Private Equity deals and set up multiple offshore and domestic India focused funds. He specializes in legal and tax structuring of complex cross-border transactions, and has advised several India focused offshore and domestic funds on equity and innovative structured finance transactions in India. He also advises major MNCs on corporate and securities laws, transfer pricing, international taxation, globalization, structuring of inbound/ outbound investments, taxation of e-commerce and exchange control laws.

He has been “Highly Recommended” by various legal directories for legal and tax advice on M&A, Private Equity and Investment Funds. He has been consistently credited by Financial Times, London for devising some of the most innovative transactions in Mergers & Acquisitions and Private Equity space. He has been nominated as a “Young Achiever” at the Legal Era Awards 2015 based on industry research, reviews, rating and surveys conducted by Legal Era.

SIMONE REIS

Leader, Private Equity and M&A, Nishith Desai Associates

Simone Reis Co-Heads the Mergers & Acquisitions and Corporate Governance practices at the firm. Simone’s practice focuses on mergers and acquisitions, private equity and venture capital investments, domestic and international, and has advised a wide spectrum of clients, across several sectors. She has represented clients on complex acquisitions and investments, debt and mezzanine funding and financing arrangements. She advises clients on overseas investment, competition law matters, foreign investment, PIPE deals, and capital market related issues. Simone has also advised many listed companies and board on issues of corporate governance.

Simone licensed to practice in the state of New York, USA and India and has been accredited for her work in legal directories such as Chambers and Partners, FT, and RSG Consulting.

VAIBHAV PARIKH

Leader, Private Equity and M&A, Nishith Desai Associates

Vaibhav Parikh heads Mergers & Acquisitions and Private Equity Practice at the firm. He is a lawyer with background in engineering. He has led several high profile M&A and Private Equity deals and specializes in legal and tax structuring of complex cross-border transactions. Vaibhav Parikh is an expert in technology (including e-commerce), media and telecom space.

He also advises major MNCs on Corporate & Securities laws, Structuring of Inbound/ Outbound Investments, Private Equity Investments, IP laws and Exchange Control Law.

VYAPAK DESAI

Leader - International Litigation and Dispute Resolution, Nishith Desai Associates

Vyapak Desai heads the International Litigation & Dispute Resolution Practice at the firm. Vyapak holds a Bachelors degree in law and a Masters degree in Commercial Laws. He is also a trained Mediator and is also a member of Arbitration Committee of the International Bar Association (IBA) and the Bar Council of Maharashtra & Goa.

Vyapak represents clients in a wide-range of services with a special focus on cutting edge cross-border and complex litigations and international commercial arbitrations. He is a leading attorney representing clients involved in media, entertainment, franchising, oil and gas, and financial services sectors for pragmatic and effective pre-litigation strategies, arbitrations and litigations before various forums including the Supreme Court, High Courts and before international arbitration centers such as the LCIA, SIAC, ICC, and ICDR- AAA amongst others.