News Corp VCCircle Stressed Assets Investment Summit 2019
Indian banks continue to grapple with the mammoth challenge of bad loans worth $150 billion. The National Company Law Tribunal has admitted about 730 bankruptcy cases in the past two years since the Insolvency and Bankruptcy Code was notified. To be sure, IBC has synergized the closure of cases involving 382 companies and recovering close to $45 billion. The fact, however, remains that less than 50 of these found buyers and that, too, at massive discount. At the same time, high-profile cases of bankruptcy have seen intense litigation between owners or majority shareholders of companies concerned and the prospective buyers and investors. Offers, counter-offers, differences, litigations, missed deadlines have been some of the challenges that have kept the process of NPA resolution on a slow track.
The challenges notwithstanding, non-performing or stressed assets continue to be an attractive opportunity for investors and that is evident from the buzz at the end of Indian as well as global private equity funds and strategic investors announcing new structures and funds to participate in the spring cleaning happening at the Indian banks.
News Corp VCCircle organized its debut Stressed Assets Summit on July 25 earlier this year. We now present the second edition of the Summit to assess the progress in the past six months, the lessons learnt and to look at the road ahead.
09.45 – 10.00 AM
Opening address by Jaideep Mehta, CEO, News Corp VCCircle
10.00 – 10.20 AM
10.20 – 11.05 AM
Panel 1: IBC Report Card
Has the Insolvency and Bankruptcy Code been successful in effectively tackling the menace of NPAs? What have been the big roadblocks and what has been the success rate? Evaluating two years of IBC
11.05 AM – 11.50 AM
Panel 2: This vs That
IBC vs. Companies Act vs. Out of court settlement vs. Pre-packaged bankruptcy scheme – which one is the better route to effective resolution?
11.50 AM – 12.10 Noon
12.10 – 12.55 PM
Panel 3: The NBFC Shocker
NBFCs were holding the fort at a time when the economy and the sentiment were coming to terms with the massive challenge of NPAs and the resolution process was being carved. Saddled with bad loans, when banks almost stopped lending, NBFCs came forward to fill in their shoes and then, IL&FS collapsed and it crushed the already down sentiment further. What did IL&FS collapse do to the macro economy, the sentiment, lending, and what it meant for the immediate and the larger stakeholders?
12.55 – 02.00 PM
02.00 – 02.45 PM
Panel 4: Designer Funding
Sensing attractive opportunities, private equity and strategic investors are coming up with innovative structures, partnerships and platforms to get hold of complex assets. A look at these vehicles and how effective they have been.
02.45 – 03.30 PM
Panel 5: Picking good from bad
Steel, thermal power, renewable energy, consumer loans – which segments make for a good buy? Do investors have any sector preference? Are opportunities better in some sectors against some others?
Date: Jan 30, 2019
Venue: Taj lands End, Mumbai