19:00 Opening remarks
19:05 Panel discussion - Taking the leap: Opportunities for distressed debt investors in India
Offshore funds have so far mostly limited their actions in Indian distressed assets by testing the Insolvency and Bankruptcy Code (IBC) process through secondary loan transactions. This is set to change, as foreign investors now have various other options to participate in the Indian distressed market – both within and outside the IBC process – thanks to the rapidly deteriorating shadow banking and real estate sectors. The panel will discuss:
- Opportunities for distressed funds to participate in non-banking financial companies and the real estate sector
- How to bypass a potential Lehman crisis for Indian shadow-banking sector
- Out-of-court restructurings versus in-court resolutions: What's preferable and why?
- What will encourage offshore participation in secondary trading of rupee bonds or loans?
20:00 Panel discussion – Tacking resolutions: the distressed debt investor perspective
The government has introduced significant amendments to the IBC in recent years, including disallowing enforcement actions against companies in their post-bankruptcy resolution forms. The changes have been made to address growing concerns the IBC is no longer the preferred route to deal with defaulters, thanks to interminable delays and inquisitive federal enforcement agencies. This panel will include a discussion on the recent changes in the IBC and answer questions such as:
- Do legal/regulatory incentives available for NCLT resolutions trump out-of-court restructuring?
- Potential pitfalls in the 7 June RBI notification and the ICA framework with solutions
- RBI’s proposed secondary loan trading regulations
- Cross border insolvencies and implications for distressed debt investors
20:55 Closing remarks
21:00 Cocktail reception
*Agenda is subject to change
- Amit Agarwal, Senior Executive Vice President, Edelweiss Stressed Asset Investment
- Anurag Das, Managing Director & CEO, International Asset Reconstruction Company
- Eshwar Karra, CEO, Kotak Situations Fund
- Ankit Thaker, India Business Head, SC Lowy
- Mihir Chandra, Managing Director, Head of Trading Strategy, Deutsche Bank AG
- Ashwin Bishnoi, Partner, Khaitan & Co.
- Manish Aggarwal, Partner & Head of Special Situations Group, KPMG India
- Siddharth Suri, Partner, Special Situations Group, KPMG India
- Vishal Gupta, Senior Vice President, SBI Capital Markets