Professional Documents
Culture Documents
07.05.2019
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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
Our IPs 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
Our IPs 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
Our IPs 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
Our IPs 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.
9. IBC Acquisition Strategy Advisory for resolution applicants for acquisition of assets / entities through the
CIRP / Liquidation process
Our IPs 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 IPs 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
Our IPs 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
Our IPs are 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. Neelam Rattan- FCA, IP.
8. Anil Kumar (GURUGRAM)- M.Com, C.A, IP.
9. Abhishek Mahavar- B.Tech, FCA, IP.
10. Jai Prakash Sharma (DELHI, MUMBAI)- B.E, M.Tech, LL.B, IP.
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SANDEEP KUMAR GUPTA – DIRECTOR : FCA, DISA , 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
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HEMANT SHARMA– DIRECTOR : LLB, IP
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ANIL KUMAR-DIRECTOR: M.COM, C.A, IP
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ABHISHEK MAHAWAR-DIRECTOR: B.TECH, C.A, IP
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JAI PRAKASH SHARMA- DIRECTOR: B.E, M.TECH, LL.B, IP
(NEW DELHI,
MUMBAI)
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KRISHNA MOHAN GOLLAMUDI- DIRECTOR: B.COM, CAIIB, IP
(HYDERABAD)
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. 18
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
VAKATI BALASUBRAMANYAM REDDY- DIRECTOR: MBA, M.SC, CAIIB, IP
(MUMBAI)
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SOME OF THE PROFESSIONALS ASSOCIATED/ WORKING WITH US
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. IRP Completed term as IRP 40
Ltd.(Sec 7)
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 -
Rs 7000 cr across all three26
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PRE - IBC INSOLVENCY / RESTRUCTURING EXPERIENCE
- SOME OF THE CASES
STRATEGISING / FORMULATION OF CORPORATE / FINANCIAL RESTRUCTURING SCHEMES FOR THE FOLLOWING COMPANIES:-
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. Allahabad Bank
2. Axis Bank
3. ARCIL
4. Bank of Baroda
5. Bank of India
6. Dena Bank
7. IDBI Bank
8. Indian Overseas Bank
9. Oriental Bank of Commerce
10. State Bank of India
11. Union Bank of India
Note: Applications for empanelment with other banks/ F.Is are under process. 31
CONTACT US
Corporate Office:
C-124, Ground Floor, Lajpat Nagar-1,New Delhi -110024
Registered office:
93, DDA Site-1, Shanker Road, New Rajinder Nagar, New Delhi -110060
Email:
contact@witworthipe.com
Phone:
011-40567644 | 41320061 | 41320062
Branch offices:
Bangalore | Chandigarh | Hyderabad | Kanpur | Kolkata | Mumbai