Banking operations management and Process advisory

Our vast experience in the field of process advisory, coupled with our keen insight of business principles enables us to identify the problems faced by the CoC and RP and provide feasible solutions that cater to the specific need of each assignment.

Advisors to Interim Resolution Professional/ Resolution Professional/ CoC/ Consultant to creditors or stakeholders:

We offer to act as process advisory to IRP/RP / COC/ and Consultant to creditors or stakeholders. Our scope of work includes but not limited to:

Preparation and issuance of public announcement intimating initiation of CIRP and inviting claims.
Written communication to all promoters, directors & Key managerial persons of the Corporate Debtor, Bankers, employees and workmen’s, auditors, other regulatory bodies like MCA, ROC, SEBI, Department of Income Tax etc. to intimate Initiation of CIRP for Corporate Debtor and to seek information about Corporate Debtor as required.
Taking control over the management of the Corporate Debtor from the existing Board of Directors of the Company pursuant to the cessation of their powers.
Taking physical and virtual control and custody over operations and assets of the Corporate Debtor and maintaining its control and running the Corporate Debtor as a going concern on a best effort basis. Activities include:

To identify and visit all locations of the businesses and assets of the Corporate Debtor
To prepare a database of assets or businesses of Corporate Debtor including but not limited to pictures and videos of assets.
To insure and depute security guards the assets to ensure protection of assets and to prevent any fraudulent or unauthorized removal of property of the Corporate Debtor.

Represent and act on behalf of the corporate debtor with third parties, exercise rights for the benefit of the corporate debtor in judicial, quasi-judicial or arbitration proceedings.
Claim Verification:

To receive, collate, verify and admit or reject claims of financial creditors, operational creditors, workmen and employees, claims for statutory dues, other stakeholders etc.
To prepare a physical and digital database of claims received with regards to documentation, category (secured or unsecured), priority u/s 53, determination and verification of security interest, inter-creditor arrangement over security interest, etc.

Constitution the Committee of Creditors as per the provisions of the code and to convene meetings of the Committee of Creditors, as and when required. Activities include:

To prepare and circulate all notices, agenda and information to convene the Committee of Creditors.
Preparation and circulation of Minutes of meetings to the Committee of creditors.
To arrange for E-voting and circulation of results Committee of creditors.

Appointment of professionals and experts for the process:

Appointing two registered valuers to determine the fair value and the liquidation value of the corporate debtor.
To appoint professionals and experts for the process such as Transaction Auditors for determination of avoidable transactions u/s 43, 45, 50 and 66 of the Code; legal counsels, internal auditors, if approved; statutory auditors, if required and approved; industry expert, process consultant, if required; etc. and to get their fee approved from Committee of Creditors.

Raising interim finance subject to approval of Committee of Creditors, if required.
Transaction audit and filling an application with Hon’ble NCLT for avoidance of transactions u/s 43, 45, 50 & 66.
To prepare Information Memorandum of the Company.
Sharing of Information Memorandum with the Committee of Creditors and potential resolution applicants and obtaining necessary undertakings from such persons.
Resolution plan process:

Preparation of Expression of Interest (EOI) document.
Preparation and finalization of Eligibility criteria for prospective resolution applicants in consultation with RP/ CoC
Receiving and reviewing the EOI’s received to check whether applicants meet eligibility criteria
Facilitate execution of confidentiality undertaking
Preparation of virtual data room (“VDR”) in order to facilitate a competitive due diligence process
Due diligence with respect to applicability of Section 29A of the Code in order to provide a prima facie view by the RP.
Expression of Interest, call for resolution plans, release approved bid evaluation criteria,
Finalization of list of PRA’s from whom Resolution Plans may be invited
Preparation and circulation of Request for resolution Plan (RFRP)
Preparation and finalization of Evaluation matrix in consultation with RP/CoC
To evaluate all the resolutions plans received from various Resolution applicant and draw up a comparative analysis of the same.
Present resolution plans so received from the Resolution applicants to the Committee of Creditors for their due consideration.
Negotiate with the shortlisted Resolution Applicants on the instructions of the RP / CoC on terms and conditions of the Resolution Plans
Review final resolution plans and submit a summary to the RP
Assist the RP /CoC in issue of letter of intent, acceptance of letter of intent by successful resolution applicants, execution of definitive agreements and defining conditions subsequent to acceptance letter of intent
Liquidity management, Cash flow monitoring and Working Capital improvement in timebound manner.
To ensure compliance of the provisions of the code with the considered resolution plans.
Submission of the approved resolution plan to the Adjudicating Authority (NCLT) for approval.

Advisors to Liquidator/ Consultant to creditors or stakeholders:

We offer to act as process advisory to Liquidator and Consultant to creditors or stakeholders. Our scope of work includes but not limited to:

Preparation and issuance of public announcement intimating initiation of Liquidation and inviting claims.
Written communication to all promoters, directors & Key managerial persons of the Corporate Debtor, Bankers, employees and workmen’s, auditors, other regulatory bodies like MCA, ROC, SEBI, Department of Income Tax etc. to intimate Initiation of Liquidation for Corporate Debtor and to seek information about Corporate Debtor as required.
Taking control over the management of the Corporate Debtor from the erstwhile IRP/RP/Liquidator.
Taking physical and virtual control and custody over operations and assets of the Corporate Debtor and maintaining its control and running the Corporate Debtor as a going concern on a best effort basis. Activities include:

To identify and visit all locations of the businesses and assets of the Corporate Debtor
To prepare a database of assets or businesses of Corporate Debtor including but not limited to pictures and videos of assets.
To insure and depute security guards the assets to ensure protection of assets and to prevent any fraudulent or unauthorized removal of property of the Corporate Debtor.

Opening of a separate Liquidation account.
Represent and act on behalf of the corporate debtor with third parties, exercise rights for the benefit of the corporate debtor in judicial, quasi-judicial or arbitration proceedings.
Institute or defend any suit, prosecution or other legal proceedings, civil or criminal, in the name of on behalf of the corporate debtor.
Claim Verification:

To receive, collate, verify and admit or reject claims of financial creditors, operational creditors, workmen and employees, claims for statutory dues, other stakeholders etc.
To prepare a physical and digital database of claims received with regards to documentation, category (secured or unsecured), priority u/s 53, determination and verification of security interest, inter-creditor arrangement over security interest, etc.

Filings before Adjudicating Authority:

Preparation and filling of Quarterly Progress reports,
Preparation and filling of Preliminary Report and Asset memorandum
Preparation and filling of List of stakeholders and modified version as and when required.

Appointment of professionals and experts for the process:

Appointing two registered valuers to determine the fair value and the liquidation value of the corporate debtor.
To appoint professionals and experts for the process such as Transaction Auditors for determination of avoidable transactions u/s 43, 45, 50 and 66 of the Code; legal counsels, internal auditors, if approved; statutory auditors, if required and approved; industry expert, process consultant, if required; etc. and to get their fee approved from Committee of Creditors.
Investigate the financial affairs of the corporate debtor to determine undervalued or preferential transactions and filling an application with Hon’ble NCLT for avoidance of transactions u/s 43, 45, 50 & 66.

Preparation of SCC (new regulation)
Sale of assets of corporate Debtor:

Preparation of strategy to sell the assets to maximize its value
Collation of all the title documents and other details and preparation of brief details of each asset for proper due diligence of prospective buyers.
Preparation of Virtual Data Room (VDR) for uploading all the relevant documents, title papers, list of assets, etc. for faster transfer of information to prospective bidders.
Preparation and publication of E-auction notice for sale of assets
Sale of assets in a private sale to maximize its value, if required.
Verify the eligibility of bidder under section 29A and other documents for receipt and examination of bids.
Execution of sale deeds, invoices etc. to complete the sale of assets.

Settling claims of stakeholders and distribution of proceeds from realization in accordance with the provisions of this Code
Filling final report prior to distribution along with application for dissolution of the company to Hon’ble NCLT