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Corporate Profile
Headway Resolution and Insolvency Services Pvt. Ltd.IPE Recognition No. IBBI/IPE/0021
Private & Confidential
Disclaimer:
The purpose of this presentation is limited to providing you with general
information on our services and philosophy. The material contained on this
website is for informational purposes only and Headway Resolution and Insolvency
Services Private Ltd. Is not soliciting any action of Insolvency, Bankruptcy, Recovery
or Resolution for any entity or person based upon such material. The material is
not to be construed as an offer or a recommendation for any corporate or
individual action nor it is to be construed as an investment advice.
Private & Confidential
Introduction
Headway Resolution and Insolvency Services Pvt. Ltd. Is an “Insolvency ProfessionalEntity (IPE)” recognised by Insolvency and Bankruptcy Board (IBBI) vide No.IBBI/IPE/0021.
The Company is led by qualified professionals who have closely worked with thedomestic and international Financial Institutes, Commercial Banks, DevelopmentalAgencies, Govt. Departments, Departments, NBFCs and Corporate in the areas ofResource Mobilisation, Debt Restructuring, Business Management & Turnaround,Mergers & Acquisition, Corporate Laws, Accounting & Taxation and StrategiesManagement services.
The team has combined experience of more than 100 years spanning the entire rangeof activities in infrastructure, manufacturing and service sectors.
We work with the sole objective of arriving at time bound Insolvency resolutions forCorporate to maximize the value of assets and balance the interest of all the stake-holders under IBC.
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Insolvency and Bankruptcy Code (“IBC”), 2016
Most of the businesses go through their “Highs and Lows” and sometimes despite best
efforts, companies do fail. The Insolvency and Bankruptcy Code, 2016 (“IBC, 2016”) is a
defining development in the evolution of a simplified, time-bound and equitable
regulation for resolution of debt of corporate and individuals. The Code has received
widespread acclaim and is expected to be an efficient mechanism for Banks, NBFCs, ARCs
and Corporate and Individual Debtors to resolve Stressed and Non Performing Assets.
Under the Code, Financial Creditor, Operational Creditor or Debtor appoint through NCLT
Insolvency Professional who act as IRP / RP to help Lenders such as Banks, Financial
Institution and NBFCs to resolve their debt exposure to various Corporate that are under
stress and have been defaulting on the payment of their interest or instalments. We assist
in facilitating a quick, transparent and efficient resolution plan and also manage liquidation
of the Debtor as a solution of the last resort.
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Our Services
Interim Resolution Professional (IRP): Our Team has qualified Insolvency Professionals who
can act as Interim Resolution Professional (“IRP”) of the Creditor or the Debtor
(“Applicant/s”) who have filed an application for initiating corporate insolvency resolution
process u/Sec.7, 9 or 10 of the Insolvency and Bankruptcy Code, 2016.
Resolution Professional (“RP”): We are qualified to be appointed by the Committee of
Creditors (“C-o-C”) as the Resolution Professional (“RP”) for any case admitted by NCLT for
resolution under IBC,2016.
Insolvency Advice: We provide professional and impartial advice to Debtors and
Creditors and their Lawyers, Accountants and Directors for the best course to be
adopted for the resolution process in case of default by the Debtor.
Representation in Committee of Creditors (“CoC”) – We can represent one or more
creditors jointly or the corporate debtor in the CoC, to articulate their point of view and
report the developments of the Resolution Process.
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Our Services
Voluntary Liquidation of a Corporate Person: For any of the companies or corporate
persons that intend to liquidate itself voluntarily, we can be appointed as the “Liquidator”
under Sec. 59 of Chapter V of the Code to carry out the Voluntary Liquidation of the
Corporate Person under the conditions and procedures specified therein.
Turnaround Finance: Sometimes, capital infusion can go a long way to resurrect the
fortunes of a company. We can arrange funds for turnaround of companies through
Strategic and Financial Investors.
Restructuring Advisory: We advise companies on restructuring their business through
closure of low-margin or loss making segments, selling non-core assets and expanding or
restricting operations in certain areas.
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Our Services
Assistance in Management and Administration of a Corporate Debtor: Immediately on the
appointment of an Interim Resolution Professional (“IRP”), the management of the affairs
of the corporate debtor shall vest in the IRP. We can help the IRP in management and
administration of the company, until the Insolvency Resolution Process is complete.
Arranging Joint Ventures, Strategic Acquisition and Private Equity Investments as part of
Resolution Plan: In our longstanding experience in Investment Banking we have done
several transactions involving Strategic Investors, Private Equity Investments and M&A. We
have deep and widespread relationships with PE and Venture Capital Funds, Strategic
Investors and promoters across various industries. This helps us to provide effective and
compliant resolution plans.
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Team - Headway
Headway has a multi-disciplinary team of professionals with diverse background and
complimentary skills including: Insolvency Professionals, Chartered Accountants, Lawyers,
Retired IAS Officers and Senior Management Professionals.
It has a robust in-house support system to execute any large and complex assignment. The
team has a combined exposure to both old economy sectors like, Infrastructure, Power,
Steel, Textiles, Cement and Agro and new age industries like Telecom, IT and ITES.
Headway has access to the best professionals in the Area of Law, Corporate Governance,
Taxation, Banking and Business Management.
The Team has a combined experience of more than 100 years in Corporate Debt
Restructuring / Strategic Debt Restructuring, Scheme of Arrangement under Companies
Act, Winding Up of companies, BIFR cases under Sick Industrial Companies (Special
Provisions) Act, Financial Restructuring / Change in management of companies,
Management of companies.
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Board of Directors & Insolvency Professionals
Board of Directors
1. Shri. Ram Ratan Kanoongo Managing Director & IP
2. Shri. Hari Das Khunteta Director
3. Shri. I. Suresh Babu Director
4. Shri Anuj Bajpai Director & IP
5. Shri. Shailesh B. Desai Director & IP
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Ram Ratan KanoongoManaging Director and Insolvency Professional
Mr. Kanoongo, is a Chartered Accountant, has a professional career of more
than 35 years and has handled multiple assignments in the field of
Management, Finance, Turnaround / Re-structuring, Capital Market, Debt
Syndication, Corporate Laws, Taxation, Auditing, Risk Assessment &
Management Consultancy. Mr. Kanoongo has gathered an invaluable blend
of board level and senior management level operational expertise in
Businesses, Strategic Finance, Corporate Law & Governance and an in-depth
understanding the Legal and Ethical implications of corporate financial
decisions. He is at present Insolvency Professional and Managing Director of
Headway Resolution and Insolvency Services Pvt. Ltd an Insolvency
Professional Entity, recognized by IBBI. He is a Member of INSOL India.
Currently, he is empanelled with the State Bank of India, Union Bank of
India, Syndicate Bank and Bank of Maharashtra to act as an IRP / RP.
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Hari Das KhuntetaDirector
Mr. Hari Das Khunteta, CA, retired as Director (Finance and Accounts),
on Board of Rural Electrification Corporation Limited, New Delhi after
serving as board member from May 2004 to July2012.
Earlier, he also held additional charge as Chairman & Managing Director
of the company from April 16, 2011 to November 29, 2011.
He had also served as Executive Director (Finance) in NHPC Ltd., Sr.
position in Renusagar Power Co. unit of Hindalco, Aditya Birla Nuvo
Ltd. etc.
Mr. Khunteta is a veteran professional of the power sector and has
remarkable experience in Financial Planning, Business Analysis,
Strategic Planning, Human Resources, treasury Management, Raising of
resources including Hedging/ Swap transaction to reduce cost of
borrowing. At present, he is a Director with Headway Resolution and
Insolvency Services Pvt Ltd and in-charge of our New Delhi Office.
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I. Suresh BabuDirector
Mr. I. Suresh Babu, IRS (retd), retired as Principal Chief
Commissioner of Income Tax, Andhra Pradesh and Telangana in
April 2017. He has 37 years of rich experience in Tax
Administration, Appellate Functions, Technical and Non-technical
matters, addressing public grievances etc. During his service
tenure, he has handled large Corporate and Public Sector
Undertakings of varied businesses like Banks, Financial Institutions,
Foreign Institutional Investors, Infrastructure Companies etc. He
had interactions with various Departments of Central and State
Governments on a regular basis and therefore got acquainted with
the functioning of the Govt. At present, he is a Director with
Headway Resolution and Insolvency Services Pvt Ltd and in-charge
of our Hyderabad Office.
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Anuj Bajpai Director and Insolvency Professional
Mr. Bajpai has nearly 20 years of professional experience in the areas of
Financial Services and Business Development. He has hands on
experience in business operations of large corporations and has
worked extensively in the areas of Private Equity, Venture Capital and
Start-Up Investments, Structured Finance, Debt Syndication and
Restructuring of mid-size companies. He has interacted with a number
of Banks, NBFCs, Mutual Funds, Private Equity Funds and Family Offices
to identify potential investment opportunities in Debt and Equity. Mr.
Bajpai was associated with many a reputed industrial conglomerates
like TATA, Godrej, Lalbhai and others. He is an MBA from ICFAI Business
School, Kolkata and also a B.E. in Electronics and Power Engineering.
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Shailesh Desai Director and Insolvency Professional
Mr. Desai has more than two decades of experience in Financial
Services, Legal, Due Diligence and Compliance. He has a wealth of
understanding in the intricacies of financial services and specializes in
the secondary market related businesses of Investment Banking. He is
a graduate in Law from Mumbai University and has a Masters in
Business Administration in Human Resources.
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Members of Support Team
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Members of Support Team
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Selective Assignments
Restructuring of a Rs.1800 Crore, Gas based Power Plant - Meeting various consortium
lenders and appraising them of the progress of the project, Appropriately presenting the
case for Debt Restructuring the Company, Assisting in negotiation and completion of long
term and short term PPAs with various state Discoms, Estimation and appraisal of Working
Capital facilities after achievement of COD, Hiring Legal Advisors empanelled with the Bank
for drafting of “Joint Documentation” work and Facilitating Consortium members agree to a
common restructuring plan through JLF as CAP.
Rehabilitation of a Listed E-commerce Co - Rehabilitation of the company, which was an
earlier BIFR unit, through a OTS with lenders, changing the entire “Business-Model” of the
company, successfully arranging working capital facility from a PSU Banks.
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Selective Assignments
BOT Road Project - Project Identification, TEV Evaluation, Fund-raising, completion, toll
establishment, debt restructuring and successful exit by sale to Infra Company.
Financial Restricting and strategic sale of a division & subsidiary Company of a leading
Pharmaceutical Company based in Hyderabad.
Representation at BIFR and arranging the discharge from BIFR for three manufacturing
companies based in Mumbai.
Expansion & Debt Restructuring of Paper Company - Arranging for the Capital raising
through GDR & Debt from Indian Banks, assisting in a USD 50 Million EPBG backed Trade
Finance Deal for the Co. for Debt Restructuring, carving out the Power Division of the
company Debt Restructuring, negotiating with Banks for the Debt and Working - Capital
limits and Assistance for the TEV Reports, Debt Rating & appointed of Valuer.
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Selective Assignments
Advising the rehabilitation from BIFR, restructuring and funding of a Power and Steel
Company based in Kandla, Gujarat.
Restructuring a Logistics Co. - Understanding the problems affecting the company,
strategy for exiting loss making businesses and downsizing and Consolidation of
different companies into a single entity, presenting the Company’s plans to a strategic
investor, Negotiation of Benchmark Performances and finalisation of the Term Sheet and
Assistance in Financial Due Diligence, Regulatory Approvals & Shareholders Agreement.
Restructuring and Capital Induction for Financial Services Company with Gulf based Bank-
Restructured the entire business by creating Holding/ Subsidiary Company & presenting it
to the PE Funds and Strategic Investors, assistance in Financial Due Diligence and
finalisation of Shareholders Agreement
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Selective Assignments
PE Investment and Exit of in-house investment in Digital Education Company-
Understanding the Business, discussion of Roadmaps, Negotiation of Valuation, Review of
company progress and performance, Participation in board meetings, Exploring exit
opportunities and Successful Exit.
Successfully completing Private Equity deals in upcoming companies with one of the
biggest Media Groups in the country for brand building – Understanding the Mechanism,
Presentation of Company Profile and Business Plans, Estimating Media Expenditure, Review
of Valuation and Term Sheet.
Capital Restructuring of a NBFC by mobilization of Long Term Finance through NCDs.
Strategic sale of a bulk-drug manufacturing pharmaceutical Company to an Indian
Multinational.
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Selective Assignments
Arranging Strategic JV between a Mumbai based textile company with a Singapore
based Knitwear, Hosiery and Children wear Company.
Restructuring and Funding of Mumbai based embroidery Company
Advising Change of Management of a mineral water plant in Pithampur, M.P.
Change of Management and Restructuring of HDPE woven sacks units based in Hyderabad.
Advising the Capital & Organisational Restructuring of a Mumbai based Garments,
manufacturing Group of Companies.
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Contact
Mr. Ram Ratan Kanoongo, Managing Director
Headway Resolution and Insolvency Services Pvt. Ltd.
IPE Recognition No. IBBI/IPE/0021
Regd. Off - 1006, Raheja Centre, Free Press Marg, Nariman Point, Mumbai 400 021
Tel: +91 22 66107430 Cell: +91 9821031996 : E-mail: [email protected]
Branches at New Delhi, Kolkata and Hyderabad.
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Thank You
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