WITWORTH CORPORATE PROFILE

04.03.2019

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 INTRODUCTION

 Witworth Insolvency Professional Entity (“WW”) is amongst the first three Insolvency Professional Entities recognized by IBBI
(IBBI/IPE/003). We work with the sole objective of arriving at time bound insolvency resolutions of corporate debtors to maximize the
value for, and balancing the interest of all the stakeholders under IBC.
 Led by a strong team of qualified IPs with substantial experience in several areas including inter alia distressed asset space, legal,
restructuring, accounting & management services relating to corporate debtors.
 Pan India presence with offices at Delhi, Mumbai, Hyderabad, Kolkata and Kanpur.
 Strong execution team comprising of CAs, CSes, Lawyers, Senior-Bankers, CXOs , Industry Sector Experts etc.
 Experienced Industry Specialists with specialization in varied industries including inter alia Infrastructure, EPC and construction, steel,
cement, food processing, sugar, electricals, hospitality, real estate, textile, auto ancillary, chemicals, petrochemicals, metals & mining etc .
 Access to a Credible Network of buyers / resolution applicants/ strategic investors which is our USP.
 Have a Panel of Professionals associated with us including Chartered Accountants, CA firms, Lawyers, Company Secretaries, CXOs, MBA,
industry specialists etc., for management of / taking control and custody of - operations, cash flows, assets.
 Tie ups with e-auction agents, GPS based real time tracking and Advertising agencies, Security agencies etc. for ensuring smooth
operations of CIRP processes.
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 SERVICES OFFERED

1. Interim Resolution Professionals

We provide services to Financials Creditors, Operational Creditors and other stakeholders to act as IRPs for initiating and
implementing Corporate Insolvency Resolution Process ('CIRP') as specified under the Insolvency & Bankruptcy Code, 2016.
2. Resolution Professional
We provide services to Financial Creditors, Operational Creditors and to the Corporate Debtors to act as a Resolution
Professionals under a Corporate Insolvency Resolution Process ('CIRP') as specified under the Insolvency & Bankruptcy Code,
2016.
3. Representation on Committee of Creditors
We provide services under section 21 (6C) and section 21 (6A) (b) of the Insolvency & Bankruptcy Code, 2016 to represent
specific Financial Creditor/ any Class of Creditors on the Committee of Creditors.
4. Liquidator
We provide all services as a Liquidator as specified under the Insolvency & Bankruptcy Code, 2016 such as verification of claims of
creditors, custody and control of the assets, preserve and protect assets of the company, carry out liquidation for the benefits of all
stakeholders.
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 SERVICES OFFERED - CONTD.

5. Corporate consulting for Resolution / Liquidation

We provide professional and strategic advice to all stakeholders in the IBC ecosystem for the best course of action to be
adopted for the resolution process in case of default by the Corporate Debtor
6. Preparation of RFRPs, Evaluation Matrix , Process Documents
We provide consultation to Corporates for preparation of RFRPs, Evaluation Matrix , Process Documents.
7. Identification of prospective resolution applicants, investors, lenders.
Given the vast Insolvency experience and associated business networks developed by our Senior IPs , we as a team have
substantial access to potential investors and Special Situation Lenders who could be potential Resolution applicants in any CIRP
matters.
8. Managing operations/cash flows of the entity under Insolvency.
Witworth has on its panel many industry experts from varied industry segments. These are senior and experienced
professionals with working knowledge of each industry having personally worked in those segments. These Industry Specialists
coupled with an experienced team of CAs, CSes, and finance and business professionals are available at all our branch locations
enabling us to manage the ongoing operations, control cash flows and payments for maintaining an entity under CIRP as a going
concern.
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 SERVICES OFFERED - CONTD.

9. IBC Acquisition Strategy Advisory for resolution applicants for acquisition of assets / entities through the CIRP
/ Liquidation process
We advise clients who are looking to invest in distressed assets though the CIRP / Liquidation route. Their investment strategy
as well as handholding them through the process is part of our Advisory business.
10. Preparation of Resolution Plans
Our team of experts will help the resolution applicant to prepare an appropriate Resolution Plan for the business entity under
CIRP. As per Section 5(26) of the IBC, "Resolution Plan" means a plan proposed by any person for Insolvency Resolution of the
Corporate Debtor as a going concern. A resolution plan is prepared on the basis of the Information Memorandum given by the
Resolution Professional.
11. Legal Advisory Service / Representation
We provide legal assistance to our clients through empanelled advocates for initiating the Insolvency Resolution process. We
have established associations with reputed Legal firms to undertake cases with NCLT benches. All the needs of the client with
regard to the following are taken care of .
 Filing of CIRP application in Hon'ble NCLT
 Filing of pleadings
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 SERVICES OFFERED – CONTD.
 Representation on behalf of various stakeholders before different benches of NCLT, NCLAT and Hon'ble Supreme Court of
India.
12. Legal Advisory / Process Advisory services in CIRP matters
13. Interim Finance / Fund Syndications
The team is experienced in raising Interim Finance for companies under CIRP as well as implementing complex transactions
involved in arranging fund syndication and for raising funds from investors, special situation funds and NBFCs etc. for
restructuring, takeover etc. of financially distressed entities. The team advises on navigating bankruptcies, acquisitions, debt
restructurings, trading etc.

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TEAM WITWORTH
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 BOARD OF DIRECTORS & INSOLVENCY PROFESSIONALS

1. Nilesh Sharma – Founder Director - FCA, LLB, IP.

2. Sandeep Kumar Gupta – Director - FCA, DISA, IP.
3. Devendra Singh – Director -B.Com (Hon), FCS, IP.
4. Kapil Dev Taneja –Director- B.Com(H), ACMA, FCS, LLB, IP.
5. Hemant Sharma – Director –LLB, IP.
6. Anuradha Malik Suri – Director -M.Sc (Physics), PGDM – IIMA, IP.
7. Anil Kumar (GURUGRAM)- M.Com, C.A, IP.
8. Abhishek Mahavar- B.Tech, FCA, IP.
9. Mukesh Gupta (DELHI) - C.A, IP.
10. Jai Prakash Sharma (DELHI, MUMBAI)- B.E, M.Tech, LL.B, IP.

11. Krishna Mohan Gollamudi (HYDERABAD)- B.Com, CAIIB, IP.

12. Ashish Sharma (CHANDIGARH)- B.Com, C.S, LL.B, IP.

13. C.Dwarakanath (BANGALORE)- B.Com, LL.B, FCS, IP.

14. Atul Mittal (DELHI)- FCA, FCS, IP.

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15. Vakati Balasubramanyam Reddy (MUMBAI)- MBA, M.Sc, CAIIB.
 NILESH SHARMA
FOUNDER DIRECTOR : FCA, LLB, IP

 Registered Insolvency Professional with (IBBI/IPA-002/IP-N00104/2017-2018/10232).

 Over 25 years’ experience in Restructuring & Insolvency.
 Leads the IBC Team consisting of CAs, CSes, Lawyers, Bankers, Cost Accountants, IPs, Management
Advisors / Industry Experts to complete the CIRP in the manner prescribed in the Code.
 Has successfully led several IRP / RP mandates. Highly experienced in representation before
benches of NCLT on behalf of Banks, and financial creditors, public sector undertakings and other
stakeholders
 Regular Speaker at seminars on IBC, 2016.
 Contributed many articles to reputed National and International Journals.
 Consistently rated a leading professional in restructuring and insolvency by international journals
eg. Legal 500, Chambers & Partners, Asia Law Profiles and IFLR1000.
 Received Certificate of Appreciation by World Bank Group for contribution to “ Doing
Business,2019 : Training for Reform”

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SANDEEP KUMAR GUPTA – DIRECTOR : FCA, DISA , IP

 Registered Insolvency Professional with (IBBI/IPA-002/IP-N00115/2017-18/10280).

 Nearly three decades of experience in rendering advisory / litigation services in the area of
corporate law, banking and insolvency law, management dispute resolution,
corporate restructuring, revival of distressed companies in various industrial verticals,
merger and acquisition, schemes of arrangement, share purchase transactions ,
liquidation of companies, etc.
 Actively engaged in rendering strategic advisory in several IBC assignments, in preparation
of Resolution Plans, setting up systems and procedures necessitated under IBC etc.
 Substantial experience in debt restructuring under the erstwhile CDR /JLF/ SDR or S4A
refine and restructuring through the Insolvency Court.
 Contributed many articles on IBC to various International Journals.
 Was one of the first six IPs registered by IBBI under regulation 7 read with regulation 9 of
IBBI regulations 2016. 10
DEVENDRA SINGH – DIRECTOR : FCS, IP

 First Insolvency Professional in the Country registered with IBBI vide Regn. No.
IBBI/IPA002/IP-N00001/2016-17/10001.
 Experience of three decades of rendering expert services in financial restructuring
proposals for revival and rehabilitation of financially stressed units.
 Experienced in handling complex IBC matters (Moser Baer India Limited as RP,
etc.,) having multiple stakeholders. Successfully dealt with NCLT, local
administration, various statutory authorities & conduct of large CoCs to steer the
CIRP process.

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KAPIL DEV TANEJA– DIRECTOR : ACMA, FCS, LLB, IP

 Registered Insolvency Professional with (IBBI/IPA-003/IP-N00069/2017-18/10547).

 Over three decades of experience of working with leading MNC’s in industries like
engineering, auto- ancillaries, supersonic missile manufacturing, as General
Counsel/Head Legal of large MNCs.
 Well versed in various compliances of Companies Act, related statues etc.
 Actively involved in litigation and arbitration for various corporates.
 Expertise in best practices in corporate governance. He has also served in various
committees of professional institutes viz. Institute of Company Secretary of India and
Institute of Cost & Management Accountant of India, besides serving on IBC
committee of PHD Chamber of Commerce.
 Registered as an Insolvency Professional with ICAI and with IBBI.

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HEMANT SHARMA– DIRECTOR : LLB, IP

 Registered Insolvency Professional with (IBBI/IPA-002/IP/N00015/2016).

 Experienced in rendering advisory services and corporate litigation for last more than a
decade in the area of corporate law, banking and insolvency law, management dispute
resolution and corporate restructuring and other related advisory services.
 Actively engaged in rendering strategic advisory and appearances as a corporate lawyer
before various corporate forums, courts and tribunals such as Company Law Board, Debt
Recovery Tribunal, National Company Law Tribunal.
 Handled numerous restructuring transactions encompassing revival of distressed
companies in numerous industrial verticals, merger and acquisition, schemes of
arrangement.
 Authored several articles on Bankruptcy and Insolvency Laws in India for several leading
Journals published by Institute of Company Secretaries of India.
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ANURADHA MALIK – DIRECTOR: MSC, MBA (IIM-A)

 Registered Insolvency Professional with IBBI(IBBI/IPA-001/IP-P00979/2017-2018/11609)

and a member of IIIP-ICAI (IP/P-00979)
 Corporate banker with expertise in senior stakeholder management, business
development, Credit, Risk and Distressed Debt portfolio management and Real estate
project management.
 Has experience of around two decades in the financial services industry in senior
Management roles covering the Distressed Asset Business and now the insolvency
industry.
 Expertise in assessing creditworthiness and financial deal structuring in the corporate
banking/NBFC/insolvency industry.
 MBA from Indian Institute of Management, Ahmedabad and a qualified IP.

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ANIL KUMAR-DIRECTOR: M.COM, C.A, IP

 Registered Insolvency Professional with IBBI/IPA-001/IP-P00144/2017-18/10308

 A seasoned Finance Professional with extensive experience of more than 29 years of
working in leadership roles by holding management positions and / or as a consultant
to head Finance & Accounts function of reputed conglomerates engaged in varied
manufacturing and service sectors.
 Has international exposure of more than 12 years working with Multinationals at a
senior level with management responsibilities.
 Has handled several cases of CIRP in the capacity as IRP , RP and as advisors to other
IRP , RP AND IPE during the last two years.

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ABHISHEK MAHAWAR-DIRECTOR: B.TECH, C.A, IP

 Registered Insolvency Professional with – (IBBI/IPA-001/IP-P00944/2017-

2018/11564)
 A Chartered Accountant and an Electronics Engineering Graduate with almost 20+
years of experience.
 Has approx. 15 years of practicing experience focusing into Corporate advisory and
Banking services. Started his career with Infosys Ltd and executed various projects
for Fortune 100 Customers on a techno functional role.
 He is also into the Board of Indian Renewable Energy Development Agency Ltd ( a
Mini Ratna (Category – I) Government of India Enterprise under Ministry of New
and Renewable Energy) and Geschäft Formulae India (P) Limited ( a technology
start-up focusing on S4/HANA based solutions) as Independent Director.

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MUKESH GUPTA- DIRECTOR: CA, IP
(NEW DELHI)

 Registered Insolvency Professional with –(IBBI/IPA-001/IP-P-01494/2018 -2019/12254)

 A Chartered Accountant having an extensive experience of nearly 30 years’ out of which
spent the first 14 years on predominantly finance / commercial functions with business
strategies as secondary function.
 A well-rounded professional with strong skill set in managing businesses, team
leadership, funds raising, contributing to business strategy with an ability to take a
holistic view of businesses along with the promoters / stakeholders . Well versed
handling M&A / foreign joint venture transactions / international funds raising which
could be very crucial for expeditious growth of any business.

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JAI PRAKASH SHARMA- DIRECTOR: B.E, M.TECH, LL.B, IP
(NEW DELHI, MUMBAI)

 Registered Insolvency Professional with – (IBBI/IPA-003/IP-N000105/2017-2018/11217)

 B.E Civil, M. Tech, In Bldg. Sc. & Construction Mgmt. (IIT-Delhi), LLB (Lucknow University),
Chartered Engineer, Member of ICA and Registered IP with IBBI
 Consulting as Procurement Specialist for Inland Waterways Authority of India, PwC (Lead
Partner), SA Infrastructure Pvt. Ltd with rendering services in contracts and claims and
dispute resolution including arbitration.
 Has a proven record of turning around business operations commercially /improving
viability in Food Processing/ Dairy.
 Key Skills / Experience - Handling of Infrastructure Projects of Industrial (Continuous
Operation), Agriculture, Health, Railway/Metro, Highways, Power & Waterways infra-
projects with regard to Project Planning / Monitoring / Execution, Planning, monitoring,
funding management with successful closure of projects/handing over to clients.

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KRISHNA MOHAN GOLLAMUDI- DIRECTOR: B.COM, CAIIB, IP
(HYDERABAD)

 Registered Insolvency Professional with IBBI/IPA-003/N/000161/2018-19/11952

 Bachelor of Commerce, with specialization in Costing from Andhra University and CAIIB from
Indian Institute of Banking Finance.
 An ex-Asst. General Manager, State Bank of Hyderabad, worked for the Bank in various capacities
viz., as Branch Head right from Rural Branch, Semi-urban, Urban to Metros like Hyderabad and
Bangalore including National Capital New Delhi, as Credit Analyst in Credit Department at
Corporate Office, as Head of Credit Wing (for conventional advances) in the Corporate Office and
as Asst. General Manager of Corporate Finance Branch, Nehru Place, New Delhi and Regional
Head of Khammam Region (Dist headquarters of erstwhile AP).
 Out of 36 years of service in Bank, worked for more than 20 years in Corporate Finance and
International Banking right from Credit Analyst to Head of Corporate Finance Branch in New
Delhi. Handled high value advances to large to very large Corporates both in Private sector and
Public sector engaged in both manufacturing and service sectors
 Ex-member (Independent External Expert) on the Committee for MSME Related matters as per
“Frame work for Revival and Rehabilitation of Micro, Small and Medium Enterprises (MSMEs)” of
Bank of India, Hyderabad ZO for AP & Telangana. 19
ASHISH SHARMA-DIRECTOR: B.COM, CS, LL.B, IP
(CHANDIGARH)
 Registered Insolvency Professional with (IBBI / IPA-002/IP-N00657/2018-19/12028)
 A Qualified commerce Graduate and a Fellow Member of the Institute of Company Secretaries of India , a
Law Graduate and an Insolvency Professional registered with the Insolvency and Bankruptcy Board of India
has served at Top level assignments in Company Secretarial/ Legal Functions/ Corporate Governance/
Company Law Matters with a high growth oriented organization.
 Has extensive experience of over 29 years in Company Secretarial & Legal Functions. Having served many
top level positions in reputed large listed Corporates as Company Secretary (General Manager) & Head
Legal. Has a vast experience of issues of shares/ debentures GDRs / Mergers and Amalgamation apart from
exposure to the Corporate restructuring/ re-work at CDR platform. Has been actively involved in making
reference to the Honourable BIFR bench, attending and making various representations before the same.
 Has a good amount of exposure to the new regime of Insolvency and Bankruptcy code 2016. Proficient in
performing secretarial functions of conducting meetings, preparing & filing statutory documents / returns
and managing public issues (IPOs).
 Well versed with the provisions of The Companies Act, FEMA and other corporate laws with proven ability
of drafting legal documents. Practical and business focused approach to achieve organisational goals &
coupled with strong inter personal skills. An effective communicator with exceptional relationship
management abilities.
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 In the field of Legal fraternity has an extensive exposure, also filed various writ petitions in various high
courts and Special Leave Petitions in the Honourable Supreme Court of India. Has an exposure with many
Top leading law firms of the country.
C DWARAKANATH-DIRECTOR: B.COM, LL.B, FCS, IP
(BANGALORE)
 Registered Insolvency Professional with IBBI/IPA-002/IP/N00711/2018-2019 /12318
 Elected to the Managing Committee of the Bangalore Chapter of ICSI for the term 2004-2006 & re-elected for
the term 2007-2010 and was the Chairman of the said Chapter for the year 2008.
 Elected to the Southern India Regional Council (SIRC) of ICSI for the term 2011-2015 and served as the
Chairman of SIRC of ICSI during the year 2013-2014.
 Has worked as a Company Secretary during 1992- 2002 for various reputed companies including listed
companies and subsidiary of foreign companies.
 Has great experience in handling assignments on voluntary winding up of companies, striking off of name of
companies under Simplified Exit Scheme and in handling assignments relating to alteration to Articles of
Association; alteration to share capital including increase, sub- division, consolidation, re-classification; issue
of shares at discount, premium; issue of bonus and right shares; private placement/preferential offer of
securities; redemption of preference shares, conversion of securities, transfer, transmission, split and issue of
duplicate share certificates; buy-back of securities.
 Has experience in handling a matter related to a services company which is into tourism and hospitality as
Resolution Professional under the provisions of the Insolvency and Bankruptcy Code, 2016.
 Handled various corporate restructuring assignments including conversion of companies from public limited
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to private limited and vice-versa
 Handling of matters for clients before the NCLT including filing of various petitions and representations
ATUL MITTAL-DIRECTOR: FCA, FCS, IP
(NEW DELHI)

 Registered Insolvency Professional with IBBI/IPA-001/IP-P00439/2017-18/10762.

 Has provided support to Interim Resolution Professional (IRP)/ Resolution Professional
(RP) from own IP Entity (IPE) in 3 cases during Corporate Insolvency Resolution
Process (CIRP) process, filed under section 10 of IBC, with COC comprising of reputed
banks.
 Has been appointed as IRP by Adjudicating Authority and RP by COC, in 1 CIRP process
of a listed entity, initiated u/s 10. Liquidation proposed to AA, as no resolution
presented before the COC.
 Has worked as Chairman in monitoring committee in 1 case to implement resolution
plan approved by Adjudicating Authority.
 Has concluded Voluntary liquidation of 1 entity u/s 59 of the IBC 2016, involving
foreign stakeholders.
 Has worked as Authorized Representative for a class of creditors comprising of over
1200 home buyers, holding about 90% of voting rights.

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VAKATI BALASUBRAMANYAM REDDY- DIRECTOR: MBA, M.SC, CAIIB, IP
(MUMBAI)

 Registered Insolvency Professional with IBBI/IPA-001/IP-P00662/2017-2018/11131

 Has Extensive experience of over three decades in Banking and financial services industry in Senior
Management roles covering corporate Credit appraisal, Sanction, dibursement ,monitoring and Follow
up for Recovery.
 Handled case of BIFR for Revival and Recovery and management of Stressed Assets (NPA).
 Gained Expertise in assessing the credit worthiness of the corporate Entities to do Restructuring for
revival and rehabilitation of financially stressed units in the corporate banking.
 Experienced in rendering Financial advisory services for Corporates From Start ups to Grown ups .
 Handled OTS proposals from Analysis, Preparation and Final sanction for SMEs and Large corporates.
 Arranged funds for NPA accounts and OTS sanctions through ARCs, NBFCs and Private sources through
Joint Ventures.
 Advised Corporates in the matters of DRT and SARFACE Act. Substantial experience in debt restructuring
under the erstwhile BIFR/CDR /JLF for revival and rehabilitation of financially stressed units in the
corporate banking.
 Regular Speaker /Faculty at Lectures, Trainings and seminars on IBC, 2016,Finance and Banking
Subjects for over 15 years.
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 SOME OF THE PROFESSIONALS ASSOCIATED/ WORKING WITH US

DIPESH DIPU (HYDERABAD) – POWER & TELECOM EXPERT

 B.Tech (Mining Engineering) from Indian Institute of Technology, Dhanbad and MBA (Finance)
 Expertise in EPC, power and telecom companies, Advised TSIIC, NTPC, Hindustan Copper Ltd. APEB
 Worked with Deloitte Hyderabad, PwC Hyderabad amongst others
V.P ANAND (HYDERABAD) -- FCA
 30 years of experience in project finance, finalizing NPA restructuring proposals with banks FIS, ARCs;
 Experience in raising resources – long term / short term, debt / equity
 Has been a mentor to Anant Rao Malik, CA, Hyderabad, who are in practice for over 30 years and provide Assurance Services,
Taxation, Project cash flow monitoring etc.
V. ANANT RAO C/o ANANT RAO & MALLIK (HYDERABAD) -- FCA, DISA, CISA, CISSP, CISM
 Practising Chartered Accountant with experience in Auditing and evaluation of security system
 Team of about 25 qualified CAs, Cost Accountants, Companies Sectaries, MBAs, Advocates
 Work on the ground in monitoring operating units, their cash flows , operations, payments , financial strategy etc.
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SOME OF THE PROFESSIONALS ASSOCIATED/ WORKING WITH US
- CONTD.

ASHISH GUPTA (MUMBAI)

 Founder Promoter of Finman Advisory Services Pvt. Ltd.
 Worked with Alok Industries Ltd. and Arch Pharmalabs Ltd. for a decade, Head of Finance / CFO of Arch Pharmalabs Ltd. from
2004-08
 13 years experience dealing with FIs, Banks, Mutual Funds, Venture Funds (PE funds) for debt / equity fund raising.
AKHILESH GUPTA (MUMBAI)
 Investment Banker and with specialist skills in complex transactions involving banks, financial institutions, PE funds, regulators
and rating agencies
 Worked in a leading Pharmaceutical Company responsible for debt / equity fund raising of more than Rs. 2000 crores involving
various lenders
PRAKASH DANGAYACH (MUMBAI)
 FCA, MBA, Diploma in Banking and Finance, experience in banking, credit analysis, debt syndication, taxation, commercial
 Over 13 years of experience with varied industries viz manufacturing, banking and service industry sectors
 Debt syndication - providing financial, compliance and taxation consultancy
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 Worked as Head - commercial for a Manufacturing industry.
 SOME OF THE PROFESSIONALS ASSOCIATED/ WORKING WITH US
- CONTD.
ARIHANT NENAVATI (MUMBAI)
 Partner of a reputed Chartered Accountants firm and fellow member of ICAI
 Leads the Mumbai branch of the firm and manages Audit/Consultancy of Banks, Financial Services Companies, PSUs, NBFCs ARCs
and large partnerships and Proprietary Concerns

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OUR STRENGTH – OUR EXPERIENCE
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 IBC MATTERS: HANDLED BY DIRECTORS OF WITWORTH

S. No. NAME OF COMPANY IRP / RP / Liquidator STATUS DEBT SIZE (Rs Crores)
1 Ramsarup Industries Limited (Sec 10) IRP Completed term as IRP 5217
2 FE (India) Limited (Sec 7) RP Ongoing CIRP 280
3 Dynamic Shells (India) P. Ltd. (Sec 7) IRP /RP Ongoing CIRP 84
4 Moser Baer India Limited (Sec 7) IRP /RP Completed term as IRP/RP 5200
5 Gupta Coal India Pvt. Ltd. (Sec 10) IRP Completed term as IRP 3250
6 BK Coalfields Pvt Ltd (Sec 9) IRP Completed term as IRP Only Operational Creditors
7 Varanasi Auto Sales Pvt. Ltd (Sec 10) IRP Completed term as IRP 70
8 Suvarna Karnataka Cements P. Ltd.(Sec 7) IRP Completed term as IRP 40
9 Stewarts & Lloyds of India Ltd (Sec 7) RP Completed term as IRP -
10 Clutch Auto Limited (Sec 7) RP/ Liquidator Liquidation in process 650
11 Vandana Vidhyut Limited (Sec 7) IRP Completed term as IRP 2800
12 Vedika Nut Craft & Pvt. Ltd (Sec 10) RP Completed term as RP 100 (approx.)
13 White Metals Ltd (Sec 7) RP Ongoing CIRP 425
14 Vishwa Infra & Services (P)Ltd (Sec 7) IRP/RP Ongoing CIRP 1400
15 Shamken Multifab (Sec 7) RP Ongoing CIRP Section 7 , total debt size -
16 Shamken Spinners (Sec 7) RP Ongoing CIRP Rs 7000 cr across all three
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17 Shamken Cotsyn (Sec 7) RP Ongoing CIRP companies.
 IBC MATTERS: HANDLED BY DIRECTORS OF WITWORTH

S. No. NAME OF COMPANY IRP / RP / Liquidator STATUS DEBT SIZE (Rs Crores)
18 Exit 10 Marketing (Sec 9) IRP/RP Ongoing CIRP 0.25
19 Apex Drugs (Sec 7) RP Ongoing CIRP 197
20 Monnet Exports Pvt. Ltd. IRP/ RP Ongoing CIRP 5.86
21 JMD Oils Pvt. Ltd. IRP/ RP Ongoing CIRP 1530
22 Basai Steel and Power RP Completed term as RP 1000
23 Polyblends India Pvt. Ltd. IRP Ongoing CIRP
24 Stride AutoParts Pvt. Ltd. IRP Ongoing CIRP 600
25 Hwashin Industries IRP/ RP Ongoing CIRP 2.2
26 PSL Limited IRP Ongoing CIRP

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 IBC MATTERS: HANDLED BY DIRECTORS OF WITWORTH (CONTD.)

S.No Name of the Company Bench Role Status

26 Brown Paper India Ltd. Mumbai Provided Corporate Advisory Services Completed the assignment
27 MBL Infrastructure Ltd. Kolkata Provided advisory to PNB/IDBI Completed the assignment

28 Suratgarh Bikaner Toll Delhi Provided advisory to PNB/IDBI Completed the assignment
Road Co. Ltd.
29 Divine Infracon Ltd. Delhi Provided advisory to PNB/IDBI Completed the assignment

30 Supreme AKT Tollways Hyderabad Resolution Process Advisor to JLF Completed the assignment
Pvt. Ltd (outside IBC)

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 SUCCESSFULLY CONCLUDED CIRP CASES
Sl. No. Name of the company
1 Basai Steel & Power Ltd
2 Palogix Infrastructure Pvt. Ltd.
3 Marmagoa Steel Ltd
4 Hotel Gaudavan Ltd.
5 Athena Demwe Power Ltd
6 Vardhaman Industries Ltd
Bench Role
Hyderabad Hemant Sharma appointed IRP / RP in the matter. Resolution Plan approved
by Hon’ble NCLT Hyderabad
Kolkata CIRP Advisory - Preparation of resolution plan and resolution advisory to the
successful resolution applicant. Resolution Plan has been approved by all the
lenders and Hon’ble NCLT, Kolkata.
Resolution Advisory to successful Resolution Applicant. Resolution plan
approved
New Delhi Nilesh Sharma, Sandeep Gupta provided advisory to majority Financial
Creditor . Resolution Plan approved by Hon’ble NCLT Delhi
New Delhi Nilesh Sharma and Sandeep Gupta along with their team provided Process
Advisory services to RP services include assisting in Data room, drafting
Process Memorandum, examining the status of Section 29A for resolution
applicants, evaluating the resolution plan, presenting a compliant resolution
plan to CoC and Hon’ble NCLT for approval. The resolution Plan was approved
by CoC and is under the consideration of Hon’ble NCLT .
New Delhi Nilesh Sharma and Sandeep Gupta along with the team provided Legal /
Resolution Advisory to RP including examining the resolution plan to ensure
compliance with IBC, to put up a fully compliant plan before the CoC. The 31
Plan stands approved by CoC and is pending approval by NCLT.
 SUCCESSFULLY CONCLUDED CIRP CASES - CONTD.
Sl. No. Name of the company Bench Role
7 Jalan Intercontinental Hotels Kolkata Resolution Plan prepared and Legal / Resolution Advisory provided to Shriram
Residancy (successful resolution applicant). Plan approved by Hon’ble NCLT
Kolkata.
8 Rajpur Hydro Power Pvt. Ltd. Chandigarh The team provided Legal / Resolution Advisory to RP including examining the
resolution plan to ensure compliance with IBC, to put up a fully compliant plan
before the CoC. The Plan stands approved by CoC and by NCLT.

32
 PRE - IBC INSOLVENCY / RESTRUCTURING EXPERIENCE
- SOME OF THE CASES

STRATEGISING / FORMULATION OF CORPORATE / FINANCIAL RESTRUCTURING SCHEMES FOR THE FOLLOWING COMPANIES:-

S.NO NAME S.NO NAME

1. India Foils Limited 13. Maneesh Pharmaceuticals Limited
2. Windsor Machines Limited 14. Faze Three Limited
3. Gangadharan Appliances Limited 15. Moser Baer India Limited
4. Shalimar Wire Industries Limited 16. Helios Photo Voltaic Limited
5. Indo Gulf Industries Limited 17. Jyoti Limited
6. Hind Lamps Limited 18. NITCO Limited
7. Pasupati Spinning & Weaving Mills Limited 19. Moser Baer Solar Limited
8. Datar Switchgear Limited 20. Ind Swift Limited
9. Lords Chloro Alkali Limited 21. DC Industrial Plant Services Pvt Ltd
10. Onida Savak Limited 22. Alps Industries Limited
11. BPL Display Devices Limited 23. Sir Shadi Lal Enterprises Limited 33

12. Narmada Cement Company Limited 24. Pranav Agro Industries Limited
 EMPANELMENTS WITH BANKS
WITWORTH IPS ARE EMPANELLED WITH THE FOLLOWING FINANCIAL INSTITUTION AND BANKS :-
1. State Bank of India
2. Bank of Baroda
3. Bank of India
4. Union Bank of India
5. Oriental Bank of Commerce
6. Dena Bank
7. Indian Overseas Bank
8. ARCIL
9. IDBI Bank
10. Axis Bank
11. Allahabad Bank

Note: Applications for empanelment with other banks/ F.Is are under process. 34
 OUR LOCATIONS

Corp. Office
C-124, Ground Floor, Lajpat Nagar-1,New Delhi, National Capital Territory of Delhi, 110024
Registered office
93, DDA Site-1, Shanker Road, New Rajinder Nagar, New Delhi 110060
Branch offices at following locations-
1. Mumbai
2. Hyderabad
3. Kanpur
4. Kolkata
5. Bangalore
6. Chandigarh