Team

Asheesh Saxena - President

Insolvency Professional -IBBI/IPA-001/IP-P-02337/2021-2022/13737
M.B.A. Financial Markets, ITM Navi Mumbai
Chartered Engineer -AM -1005513
B.E. Chemical Engineer, M.B.M. Engineering College, Jodhpur

Professional Experience of 15+ Years in domain of –

  • Debt Restructuring/Financial Restructuring 
  • Insolvency Resolution 
  • Corporate Restructuring 
  • Mergers & Acquisition 
  • Capital (Debt & Equity) Raising
  • Project Feasibility Studies
  • Techno-Economic Viability Study
  • Modelling & Simulation Nuclear Reactor Research

Vishnu Saxena - Vice President

MBA Human Resource & International Business

Professional Experience of 15+ Years in following domains across various esteemed organisation –

  • Managing Human Resource of Reliance HR Services
  • Payroll and Performance Management at Hospitals, Hotels 
  • Management & Executive level Recruiter
  • Business Development of Transformplus
  • HR & Recruitment Division of Seven Bridge Advisors & Research Centre

Priyanka Saxena - Vice President

M. Sc. Biotechnology

Professional Experience of 15+ Years in following domains –

  • Managing the Administration of Seven Bridge Advisors
  • Educating & Training Graduates & above in space of Biotechnology
  • Setting up of River Bridge Consultants 
  • Setting up the Research Centre at Seven Bridge Advisors
  • Managing & supervising the operations

Clients & Case Studies

Scan Steels Limited

  • Scan Steels Limited, based out of Rourkela, Odisha, Plants at 3 locations in Odisha and 1 in Bellary 
  • 7 lenders, 170 Cr+ Debt, continued debt servicing without cash accrual just to prevent the account turn NPA, depleted substantial amount of working capital
  • Reason for downfall in profitability was slowdown in China & Cheap dumping of MS Ingots by China, Coal Prices Sky Rocketed, Even SAIL & TISCO faced challenge
  • Challenge was Brand Image of Promoters, none of lender was ready to believe that Promoter doesn’t have money as ‘Srishti’ was 3rd largest brand 
  • Adopted a different strategy, SBI post, TEV studies realized the need of the restructuring package, SBI ruled out the CDR but other lenders became bottleneck and majority could not be formed.
  • Convinced lenders to opt out of consortium agreement & resolve individually. SBI restructured their portion. 3 banks were given exit with small hair cuts
  • Today when the sector has turned around, company is in such a healthy position that it has made payment of Recompense Amount to lenders which is very rare in this time.

Nilachal CarboMetalicks

  • Nilachal CarboMetalicks Limited, Unit Based out of Jajpur, Odisha and Bhubaneshwar, engaged in manufacturing of Coke for Ferro Alloys Producers
  • 2 lenders, SBI & Allahabad Bank with Rs. 77 Cr. Peculiarity was that Account with SBI NPA due to Failed restructuring and throughout Standard with Allahabad Bank, not possible to restructure the loan due viability issues
  • No coke manufacturing unit of NCMPL size in terms of Plant Capacity can repay such a huge liability in 10 years hence Restructuring was ruled out.
  • SBI welcomed the compromise proposal which was supposed to be met through both promoter & Investor`s funds.
  • Problem was Allahabad being Standard, as per RBI norms if one bank was NPA then other member bank cannot keep its account standard.
  • Allahabad bank`s facility was only non-fund based, LCs, in nature. There was no fund-based facility in the system. 
  • SBI sanctioned the compromised, amount was paid along with applicable interest. 
  • Now company is generating healthy cash-accrual as Steel cycle has turned up.

Sectors & Clients Serviced

Key Transactions in Turnaround Space

Company

Sector

Scope of Service & Lenders

Anuspaa Heritage Products Pvt. Ltd.

Soap Manufacturing, Mumbai

Corporate Finance, Canara Bank, INR 100 MN

Scan Steels Limited

Steel Product Manufacturing, Rajgangpur Odhisa, 

Debt Restructuring, Cons. Of 7 Banks led by SBI, INR 1700 MN

Ambika Solvex Limited

Edible Oil, Indore

Debt Resolution OTS, Cons. Of 3 Banks led by SBI, INR 1880 MN

Alok Ispat Private Limited

Steel Product Manufacturing, Chhitsgarh

Debt Resolution, Punjab National Bank, INR 75 MN

Scania Steels & Power Limited

Steel Product Manufacturing, Chhitsgarh

Debt Resolution, Cons. Of 2 Banks led by SBI, INR 610 MN

Nilachal CarboMetalicks Limited

Coke Manufacturing, Odhisha

Debt Resolution OTS, Cons. Of 2 Banks led by SBI, INR 760 MN

Nizam Deccan Sugars Limited

Sugar Manufacturing, Telangana

Assist COC & RP, Cons. Of 4 Banks led by, AB, 1440 MN 

Indian Sugar Manufacturing Limited

Sugar Manufacturing, Maharashtra

Debt Resolution, Cons. Of 4 Banks led by BOB, INR 1550 MN

Oil Country Tubular Limited

Oil Rigs Manufacturing, Telangana

Debt Resolution, Cos of 3 Banks led by SBI, INR 1450 MN

Shivsagar Sugar and Agro Products Limited

Integrated Sugar Cogen, Maharashtra

Debt Resolution OTS, Cos of 5 Banks led by IOB, INR 3650 MN

Balaji Electrosteels Limited

Ferro Alloys Manufacturing, Jharkhand

Debt Resolution OTS, SBI, INR 356 MN

Narayan Trading Company

Trading Company, Indore

Debt Resolution OTS, Cos of 3 Banks led by UCO, INR 1330 MN

PMS Real Estate Pvt Limited

Real Estate, Indore

Debt Resolution OTS, PNB, INR 185 MN

Divya Jyoti Industries

Edible Oil, MP

Resolution Applicant Consultant