ipe registration number: ibbi/ipe/0064

20
1 An Insolvency Professional Entity IPE Registration Number: IBBI/IPE/0064 (Issued by Insolvency & Bankruptcy Board of India) : Directors: CA Ramchandra D. Choudhary CMA Ajit Kumar M. Com, FCA, IP, Certified Forensic Auditor M. Com, FCMA, IP CMA Ashish Garg CA Dhaval Mistry M. Com, FCA, CS, CMA, DISA, DIRM, LLB, IP M. Com, FCA, CS, IP, DISA (ICAI) CMA Mukesh Khathuria CA Dharit Shah MBA, FCMA, GMA (UK), IP M. Com, FCA, IP CA Ajay Milhotra CA Gordhan Godhani B. Com (Hons), FCA, CS, MBA (UK), IP, Valuer (S&FA) M. Com, FCA, DISA, IP CS Sandeep Chandna CS Ashish Singh M. Com, FCS, LLB, IP CS, LLB, IP CA Rajeev Bhatia CA Dakshesh Choksi M. Com, FCA, IP B. Com, FCA, CMA, IP Devendra Umrao Ex. Banker, B. Com (Hons), LLM, MBA, IP Address: 83, National Media Center, Nr. Shankar Chowk, Nr. Ambiance Mall, Gurugram, HR - 122002 Ahmedabad * Bengaluru * Chandigarh * Chhattisgarh* Delhi - NCR * Hyderabad * Indore * Jaipur * Mumbai * Surat * Vadodara

Upload: others

Post on 18-Dec-2021

24 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: IPE Registration Number: IBBI/IPE/0064

1

An Insolvency Professional Entity

IPE Registration Number: IBBI/IPE/0064 (Issued by Insolvency & Bankruptcy Board of India)

: Directors:

CA Ramchandra D. Choudhary CMA Ajit Kumar M. Com, FCA, IP, Certified Forensic Auditor M. Com, FCMA, IP

CMA Ashish Garg CA Dhaval Mistry M. Com, FCA, CS, CMA, DISA, DIRM, LLB, IP M. Com, FCA, CS, IP, DISA (ICAI)

CMA Mukesh Khathuria CA Dharit Shah MBA, FCMA, GMA (UK), IP M. Com, FCA, IP

CA Ajay Milhotra CA Gordhan Godhani B. Com (Hons), FCA, CS, MBA (UK), IP, Valuer (S&FA) M. Com, FCA, DISA, IP

CS Sandeep Chandna CS Ashish Singh M. Com, FCS, LLB, IP CS, LLB, IP

CA Rajeev Bhatia CA Dakshesh Choksi M. Com, FCA, IP B. Com, FCA, CMA, IP

Devendra Umrao Ex. Banker, B. Com (Hons), LLM, MBA, IP

Address: 83, National Media Center, Nr. Shankar Chowk, Nr.

Ambiance Mall, Gurugram, HR - 122002

Ahmedabad * Bengaluru * Chandigarh * Chhattisgarh* Delhi - NCR

* Hyderabad * Indore * Jaipur * Mumbai * Surat * Vadodara

Page 2: IPE Registration Number: IBBI/IPE/0064

2

Sun Resolution Professionals Private Limited

Registration Number: IBBI/IPE/0064 (issued by Insolvency & Bankruptcy Board of India)

Sun Resolution Professionals Private Limited (SRPPL) is Insolvency Professional

Entity (IPE) and is registered with Insolvency & Bankruptcy Board of India under

Insolvency & Bankruptcy Board with an aim to provide a complete Insolvency

Professionals Services to various stake holders.

Founders of the company SRPPL are very eminent professional chartered

accountants having rich professional experience in the field of NPA

Management, Business Restructure Plan, Business Turnaround, Corporate Laws,

Corporate Planning and advisory, Taxation and Auditing & Assurance services.

: Our Vision :

Our vision is to impart speedy and sound resolution, resulting into maximum

realization for all stake holders.

: Our Mission :

Provide a complete corporate insolvency advisory at one place

Optimize Corporate resources to resolve debtor-creditor conflicts

To raise a ray of hope to revive the corporate entities by various means

To maximize the value of assets of the Corporate Entity.

CONTACT DETAILS:

Head Office: 9B, Vardan Tower, Nr. Vimal House,

Lakhudi Circle, Navrangpura,

Ahmedabad – 380 014

Ph : 079-26566577, 9909903614 , 9327715892 9904547469

E-mail : [email protected] / [email protected]

Mumbai Office: 3-4 Floor, Indian Mercantile Mansion Extn,

Madame Cama Road, Colaba, Mumbai – 400005

Ph : 63524 32450

Delhi Office: 83, National Media Centre,

Shanker Chowk, Nr. Ambiance Mall /

DLF Cyber City , Gurugram – 122002

Ph : 09904547469

Page 3: IPE Registration Number: IBBI/IPE/0064

3

: Bengaluru :

#20, Padmalaya, 3rd

Main, Arekempanahalli,

10th Cross, Wilson

Garden, Bengaluru-

560027

: Chandigarh :

Plot # 396, Industrial

Area Phase#2,

Panchkula Tricity,

Chandigarh

: Chhattisgarh :

Jai Balaji Bhawan,

Bramha Road,

Ambikapur

Chhattisgarh-497001

: Delhi :

83, National Media

Centre, Shanker

Chowk, Nr. Ambiance

Mall / DLF Cyber City ,

Gurugram – 122002

: Hyderabad :

#15/8/550-551, S no 1,

Siddiamber bazaar,

Hyderabad -500012

: Indore :

301, Anmol Darshan

Building, 9/1, New

Palasia, Indore - 452001

: Jaipur :

17, Indraprastha

Colony, Ramnagar,

Sodala, Jaipur - 302006

: Kolkata :

4th Floor, 37, Canning

Street, Kolkata-700012

: Mumbai :

3-4 Floor, Indian

Mercantile Mansion,

Madame Cama Road,

Colaba, Mumbai –

400005

: Surat :

209 Rajhans Point,

Geetanjali,Varachha

Road, Surat - 395 006.

: Vadodara :

302, Centre point, R C

Dutt Road , Alkapuri,

Vadodara – 390007

:NASIK:

16, P.L.Apartment,

Racca Colony,

Sharanpur Road, Nashik,

Maharashtra-02

: Key Persons :

CA R.D. Choudhary - 9909903614

CMA Ajit Kumar - 9818228882

CA Dhaval Mistry - 9904547469

: Name of Qualified Associated Insolvency Professionals:

1. CA R D Choudhary

2. CA Dhaval Mistry

3. CMA Ajit Kumar (Delhi)

4. CA Ajay Milhotra (Delhi)

5. CMA Mukesh Khathuria(Mumbai)

6. CA Dharit K Shah (Baroda)

7. CA GR Godhani (Surat)

8. CS Sandeep Chandana

9. Devendra Umrao

10. CS Ashish Singh

11. CA Ashish Garg

12. CA Rajeev Bhatia

13. CA Dakshesh Choksi

14. CS Prawin Charan Dwary

15. CA Tejas Shah

16. CA Bhavi Shah

17. CA Veena Sharma

18. CA Kanak Jani

Page 4: IPE Registration Number: IBBI/IPE/0064

2

: Assignments as Insolvency Professionals/Associates: Sr.

No.

Name of the Corporate Debtor Debt Size

Rs in Crores

Industry

1. Radheshyam Fibers Pvt. Ltd. 50.00 Cotton Ginning

2. Steel Konnect India Pvt Ltd 220.00 Steel

3. ABXL Retail Private Limited 10.00 Retail

4. Rainbow Papers Limited 1800.00 Paper Manufacturing/ Power

Plant

5. Anil Limited 1600.00 Starch Products

6. Anil Nutrients Ltd. 100.00 Food Products

7. Forever Precious Jewellery & Diamond Ltd 3950.00 Jewellary & Ornaments

8. Winsome Jewellery & Diamond Ltd. 8300.00 Jewellary & Ornaments

9. J.R. Diamonds Private Limited 10.00 Jewellary & Ornaments

10. Kohinoor Diamonds Private Limited 8100.00 Jewellary & Ornaments

11. Jai Hind Infra Tech Projects Limited 800.00 Infrastructure Developments

12. Shree Vinayak Foods & Fabrics Pvt Ltd 13.00 Packaged Food

13. A & I Hospitality Pvt. Ltd. 20.00 Warehousing

14. Well Pack Papers & Containers Ltd. 5.00 Paper Products

15. Varia Aluminium Pvt. Ltd. 200.00 Aluminum Products

16. Vikram Hospital Pvt. Limited 95.00 Hospital

17. Diamond Power Infrastructure Ltd 3000.00 Cable & Transformers

18. Padmadevi Sugars Private Limited 550.00 Sugar Mill, Power and Distillery

19. Maharashtra Shetkari Sugar Limited 500.00 Sugar Mill, Power and Distillery

20. Tanisa Denims Pvt Ltd 15.00 Fabric Man.

21. Jadoun International Pvt Ltd 5.00 Trading

22. R P Basmati Rice Limited 300.00 Rice Mill

23. Alps Leasure Holidays Pvt Ltd 15.00 Hotel & Resort

24. V.S. Texmill Pvt Ltd 16.00 Textile

25. H V Synthetic Pvt Ltd 3.00 Textile

26. Kamrup Housing Project Limited 86.00 Real Estate Project

27. Neesa Leisure Limited 1800.00 Hospitality Industry

28. Care Office Equipment Limited 120.00 Trading IT Products

29. Oasis Tradelink Limited 50.00 Edible Oil

30. HM Industrial Private Limited 150.00 Steel & Agro

31. Raj Rayon Industries Limited 1500.00 Woven Fabric

32. Lokhandwala Kataria Construction Pvt Ltd 1700.00 Minerva Projects in Mumbai

33. Lokhandwala Infrastructure Pvt. Ltd. 225.00 Construction and Builder

34. Rathi TMT Saria Limited 156.00 TMT Bars and saria

35. Jailaxmi Sugar Products Pvt Ltd 100.00 Sugar

36. Sikka Papers Limited 250.00 Paper

37. SVMR Logistics Pvt Ltd 0.70 Logistics

38. Geo Express Pvt Ltd 1.50 Export & Import of Rice & Logistics

39. KST Infrastructure Limited 75.00 Infrastructure

40. Krrome Glass Pvt Ltd 90.00 Glass manufacturing

41. Rutika Creations Pvt Ltd 5.00 Embroidery

42. Omkar Gratings Pvt Ltd 20.00 Steel Trading

43. Galaxy Cotton and Textiles Pvt Ltd 45.00 Cotton

44. Thomson Nusa Metals Pvt Ltd 450.00 Metals

45. Neoteric informatique Limited 250.00 Computer

46. V.A.M Resorts & Hotels Pvt Ltd 21.00 Real Estate

47. RRC International Freight Services Ltd 38.00 Transportation

48. ASP Sealing Products Limited 20.00 Auto Industries

49. Vijay Timbers Pvt Ltd 185.00 Plywood manufacturing

50. K-Lifestyle & Industries Limited 800.00 Fabric & Garment

Total Debt Size 37815.20

Page 5: IPE Registration Number: IBBI/IPE/0064

3

: Bank-wise Assignments as IP: : State Bank of India :

1. Anil Ltd.

2. Radheshyam Fibers Pvt. Ltd.

3. Steel Konnect India Pvt. Ltd.

4. Winsome Jewellery & Diamond Ltd.

5. Kohinoor Diamonds Pvt. Ltd.

6. Jaihind Infra Tech Projects Ltd.

7. Diamond Power Infra Ltd

8. Care Office Equipment Limited

9. Neesa Leisure Limited

10. Raj Reyon Industries Limited

11. RP Basmati Rice Limited

12. Galaxy Cotton & Textiles Pvt Ltd

: Bank of India :

1. Anil Ltd.

2. Anil Nutrients Ltd.

3. Rainbow Papers Limited

4. Forever Precious Jewellery & Diamond

Ltd.

5. Winsome Jewellery & Diamond Ltd.

6. Kohinoor Diamonds Pvt. Ltd.

7. Diamond Power Infra Ltd

8. Tanisa Denims Pvt. Ltd.

13. Care Office Equipment Limited

14. Neesa Leisure Limited

: Punjab National Bank :

1. ABXL Retail Pvt. Ltd.

2. Rainbow Papers Ltd.

3. Anil Ltd.

4. Forever Precious Jewellery & Diamond Ltd.

5. Winsome Jewellery & Diamond Ltd.

6. Kohinoor Diamonds Pvt. Ltd.

7. Jaihind Infra Tech Projects Ltd.

8. Shree Vinayak Foods & Fabrics Pvt. Ltd.

9. Maharashtra Shetkari Sugars Ltd

10. Oasis Tradelink Limited

: IDBI Bank :

1. Anil Ltd.

2. Forever Precious Jewellery & Diamond

Ltd.

3. Winsome Jewellery & Diamond Ltd.

4. Kohinoor Diamonds Pvt. Ltd.

5. Jaihind Infra Tech Projects Ltd

6. Thomson Nusa Metals Pvt Ltd

: Axis Bank :

1. Rainbow Papers Ltd.

2. Anil Ltd.

3. Winsome Jewellery & Diamond Ltd.

4. Kohinoor Diamonds Pvt. Ltd

5. Diamond Power Infra Ltd

: Canara Bank :

1. Forever Precious Jewellery & Diamond Ltd.

2. Winsome Jewellery & Diamond Ltd.

3. Kohinoor Diamonds Pvt. Ltd

4. Jaihind Infra Tech Projects Ltd

5. V S Texmill Pvt. Ltd.

6. Care Office Equipment Limited

: Bank of Baroda :

1. Steel Konnect India Pvt. Ltd.

2. Jaihind Infra Tech Projects Ltd.

3. Varia Aluminium Pvt. Ltd.

4. Diamond Power Infra Ltd

5. HM Industrial Private Limited

: Vijaya Bank:

1. Forever Precious Jewellery & Diamond Ltd.

2. Winsome Jewellery & Diamond Ltd.

3. Kohinoor Diamonds Pvt. Ltd

Central Bank Of India

1. Forever Precious Jewellery & Diamond Ltd.

2. Winsome Jewellery & Diamond Ltd.

3. Kohinoor Diamonds Pvt. Ltd

4. Varia Aluminium Pvt. Ltd.

IFCI Ltd

1. Rainbow Papers Ltd.

2. Anil Ltd.

3. Diamond Power Infra Ltd

4. Maharashtra Shetkari Sugars Ltd

5. Neesa Leisure Limited

Phoenix ARC Pvt. Ltd.

1. Anil Ltd.

2. Anil Nutrients Ltd.

3. Raj Rayon Industries Limited

State Bank of Mauritius

1. Forever Precious Jewellery & Diamond Ltd.

2. Winsome Jewellery & Diamond

3. Kohinoor Diamonds Pvt. Ltd.

Union Bank

1. Rainbow Papers Ltd.

2. Winsome Jewellery & Diamond Ltd

3. Kohinoor Diamonds Pvt. Ltd

4. Maharashtra Shetkari Sugars Ltd

Bank of Maharashtra

1. Jaihind Infra Tech Projects Ltd

2. Winsome Jewellery & Diamond Ltd

3. Kohinoor Diamonds Pvt. Ltd.

4. Diamond Power Infra Ltd.

Reliance Commercial Finance Ltd.

1. Steel Konnect India Pvt. Ltd

2. Anil Ltd.

3. Anil Nutrients Ltd.

4. V.S Texmills Pvt. Ltd.

5. Rutika Creations Pvt Ltd

HDFC Bank Ltd.

1. Steel Konnect India Pvt. Ltd.

2. HM Industrial Pvt Ltd.

TFCI Limited

1. Rainbow Papers Ltd.

Indian Overseas Bank

1. Rainbow Papers Ltd.

2. Diamond Power Infra Ltd.

3. Rathi TMT Saria Pvt Ltd

Dena Bank

1. Rainbow Papers Ltd.

2. Diamond Power Infra Ltd

SIDBI

1. A & I Hospitality Pvt. Ltd

2. Alps Leisure Holiday P. Ltd

3. Neesa Leisure Limited

Allahabad Bank

1. Rainbow Papers Ltd.

2. Diamond Power Infra Ltd.

Standard Chartered Bank

1. Winsome Jewellery & Diamond Ltd

2. Kohinoor Diamonds Pvt. Ltd

Oriental Bank of Commerce

1. Winsome Jewellery & Diamond Ltd

2. Kohinoor Diamonds Pvt. Ltd.

3. RP Basmati Rice Limited

4. Sikka Papers Pvt ltd

Exim Bank

1. Winsome Jewellery & Diamond Ltd.

2. Kohinoor Diamonds Pvt. Ltd.

3. Diamond Power Infra Ltd.

Syndicate Bank

1. Forever Precious Jewellery & Diamond

Ltd

2. Diamond Power Infra Ltd

Co. op. Rabo Bank UA

1. Anil Limited

IFCI Venture Cap. Fund

1. Anil Limited

Corporation Bank

1. Rainbow Papers Ltd

2. Diamond Power Infra Ltd

3. Neesa Leisure Limited

4. Krrome Glass Pvt Ltd

ACRE Limited

1. Rainbow Papers Ltd

2. Neesa Leisure Limited

Hero Fincorp Limited

1. Steel Konnect (India) Pvt. Ltd.

TFCI 1. Diamond Power Infra Ltd

L&T Finance Ltd 1. Diamond Power Infra Ltd

ICICI Bank 1. Diamond Power Infra Ltd

UCO Bank

1. Diamond Power Infra Ltd

Andhra Bank

1. Maharashtra Shetkari Sugars Ltd

ARCIL

1. Neesa Leisure Limited

Indiabulls Housing Finance Ltd 1. V.A.M Resorts & Hotels Pvt Ltd

2. RRC International Freight Services Ltd

Page 6: IPE Registration Number: IBBI/IPE/0064

4

: Audit Experience:

: Bank Branch Concurrent Audit :

1. Palanpur Branch, Bank of India

2. SiddhpurBranch, Dena Bank,

3. Deesa Branch, Union Bank of India

4. Kandla Branch, United Bank of India

5. Nadiad Branch, Allahabad Bank

6. Income Tax Branch , Ahmedabad, Central Bank of India

7. Gurukul Branch, Ahmedabad, Corporation Bank

8. Vishanagar Branch, SBI

9. Vijapur Branch, SBI

10. Dena Gujarat Gramin Bank

And other RRBs

: Major Corporate / Government Audits :

1. Sintex Industries Limited (T/O 2800+ Cr.)

2. Sintex Plastics Technology Ltd (T/o 6000+ Cr.)

3. Dudh Sagar Dairy, Mehsana (T/o 4500+ Cr.)

4. Sarva Sikhsa Abhiyan (Grant 30,000+ Cr.)

5. MNREGA, Gandhinagar (Grant 1500+ Cr.)

6. Swachh Bharat Abhiyan (Grant 1500+ Cr.)

: Our Empanelment: 1. State Bank of India

2. Bank of Baroda

3. Union Bank of India

4. Syndicate Bank

5. Indian Overseas Bank

6. Dena Bank

7. Punjab National Bank

8. Oriental Bank of Commerce

9. Bank of Maharashtra

10. Small Industrial Development

Bank of India

11. ARCIL

12. IDBI Bank

13. Andhra Bank

14. Central Bank of India

15. Bank of India

16. Indian Bank

17. United Bank of India

: INFRASTRACTURE:

HO at Ahmedabad having 5500 SQ Fts office with in-house video conference hall

40 seating capacity for COC purpose.

At Delhi having 4500 Sq Fts Office with in-House VC hall 30 seating capacity for

COC purpose and in addition to this adequate set up at other office locations

across India.

At Mumbai having 5000 sq.ft. office with in house VC hall having 20 seating

capacity for COC purpose

:OUR STAFF STRENGTH :

Qualified CAs /CSs / CMAs 30

Qualified Law Graduates 17

Qualified MBAs 3

Intermediate CA / CS / CMA 25

On Field Staff 52

Supportive staff (Computer Operator, Bank Office) 20

Industrial Experts 04

Page 7: IPE Registration Number: IBBI/IPE/0064

5

: BRIEF PROFILE:

CA Ramchandra Choudhary, M.Com, F.C.A., IP

IP Reg. No: IBBI/IPA-001/IP-P00157/2017-18/10236

ICAI Membership No: 043979

He is the founder and driving force behind the startup

of SRPPL; He is in full time practice as Insolvency

Professional.

He began his career in 1989, by becoming the Associate Member and then a

Fellow Member of the Institute of Chartered Accountants of India, in the year

1995.

At an Initial Stage, worked for two years with a reputed firm, later on, started

as proprietorship and now a partnership firm in the name of R. CHOUDHARY &

ASSOCIATES; practicing as professional Chartered Accountant since 1990

and at present successfully dedicated to the profession.

Specialized in NPA Management, Government Audit and Project Financing,

he looks after the NPA Management Division and Government Audit divisions

of the firm. Continuing in the profession, is now moving to greater heights

along with strong, enthusiastic, committed young team of most talented

Chartered Accountants and associates to the firm. He also has successfully

completed assignments of issued related SARFAESI, DRT, Restructuring BIFR /

AIFR etc

He was past member of Information Technology Committee of Western

Region of ICAI.

He is present member of PDICAI (Professional Development Committee of

ICAI) and serving the Institute.

He has successfully completed Certificate course of Forensic Audit and Fraud

Prevention (FAFP) from ICAI in the year 2016.

Page 8: IPE Registration Number: IBBI/IPE/0064

6

CMA Ajit Kumar Jha, M.Com, FCMA, IP

IP Reg No: IBBI/IPA-003/IP-N00062/2017-18/10548

Ajit is having 21 years of industrial experience. He worked

with DLF Ltd for more than 10 years and executed many

residential and commercial projects along with corporate

finance and FDI, JDA’s and shareholding agreements etc.

Apart from real estate, he has experience of construction

and worked with Laing O’Rourke (Large Infrastructure construction

Company). In 2017, he came into full time practice as Cost Accountant and

Insolvency Professional.

He has rich experience in Project Management, Project Financing, Working

Capital Financing, Financial Re-Engineering & Restructuring, General

Insurance, Financial Modeling, Investment, Investor Relationship, FDI, FEMA

matter. His managerial capabilities include strategic planning, M & A, new

entity set up, due diligence, change management, resource optimization,

turnaround management, corporate governance system implementation

and people management. He is Delhi University graduate and a fellow

member of Institute of Cost Accountants of India and Insurance Institute of

India.

He has got his first assignment as IRP through IBBI in matter of Preet Tractors

Pvt Ltd. Where he appointed as IRP and later reappointed as RP through CoC

and matter was resolved well in timeline. He presented resolution before AA

in less than two months. He is now appointed as liquidator in Geo Express Pvt

Ltd. He has been pleading for himself for all his matters in NCLT.

CA DHAVAL MISTRY, M.com, FCA, CS, DISA, IP, Certified Forensic Auditor

IBBI/IPA-001/IP-P01853/2019-20/12849

ICAI Membership No.133387

Well qualified young and dynamic Chartered Accountant in

the profession having worked for over a period of more than

ten years with the firm; as a Partner since August 2009.

He has rich experience in Income Tax Matters, Corporate Law Matters,

Internal audits, Statutory audits, Tax audits of small firms, Companies,

Corporate, Statutory and Concurrent Audits of Nationalized Banks; GST

Matters besides rendering management consultancy and Project financing

professional services of high standards to meet the financial needs of working

capital and term loans of clients.

His expertise also includes exposure in restructuring borrowings of Companies;

planning and developing internal control/MIS systems to suit any industries,

project financing; thereby rendering valuable to clients.

Page 9: IPE Registration Number: IBBI/IPE/0064

7

He is exclusively engaged in the Insolvency Resolution Professional Service

since April, 2017 and having working experience of handling small to mid-size

corporate units ranging from Rs. 50 Cr. to Rs. 2500 Cr debt size.

He has completed Certificate Course on Concurrent Audit of Banks,

Certificate Course on Forensic Accounting and Fraud Detection and

Diploma in Information System Audit (DISA).

CA. Dharit K Shah, M. Com, L.L. B., FCA, IP

IP IBBI/IPA-001/IP-P00993/2017-2018/11640

ICAI Membership No: 116748

He is Practicing Chartered Accountants since 23.02.2004 as

partner in Bipin & Co Chartered Accountants, which was

established in the year 1968, having 7 fellow ICAI partners

and having wide experience of more than 49 years.

Statutory audit of Nuclear Power Corporation of India Limited, kakrapar Site

and Internal Audit of Bharat Sanchar Nigam Limited – Vadodara & Nadiad

SSA , Sona Alloys Ltd , Special internal audit assignment on behalf of State

Bank of India (having Bank Exposure of Rs 1082.00 Crores) carried out

He is also having experience of Bank Branch Statutory Audit of Indian

Overseas Bank, Canara Bank as well as concurrent audit of State bank of

India, Union Bank of India, Syndicate Bank and Central bank.

Banking related important Exposure:

He is having vast experience of approx 1023 stock and receivable audit

assignments from banking sector. The companies belong to various diversified

fields.

Certificate course of Forensic Audit and Fraud Detection by ICAI.

CA Ajay Milhotra B.Com (Hons) Eco, FCA, CS, MBA (UK), IP, Valuer (S&FA)

IP Reg No: IBBI/IPA-001/IP-P-01688/2019 -2020/12594

Ajay Milhotra has over 27 years of work experience. He has

worked as a CFO, for various listed and unlisted companies

both domestic and international in different industry

verticals.

He specialises in diverse areas of finance including accounting, strategic and

business planning, investor relations, corporate law, taxation, corporate

Page 10: IPE Registration Number: IBBI/IPE/0064

8

governance, risk management, compliance, financial management,

financial reporting, capital markets, fund raising and the like.

He has worked for Indian and globally listed organisations in sectors such as

Visa Processing, IT (Fintech), Real Estate, Logistics, Education, Manufacturing

(in varied industries) and Consulting. He has also developed a set of skills in

M&A, budgeting, cash flow management, financial controls and systems

implementation with a track record of transferring these skills across industries.

CS Sandeep Chandna M.Com, FCS, LLB, IP

IBBI/IPA-002/IP-N00447/2017-2018/11237

A Fellow Member of the Institute of Company Secretaries of

India, having more than 19 years of extensive hands-on

experience in legal, compliance, reporting, financing

documentation, IPO, takeover, merger, matters relating to

RBI, FIPB, CLB, RoC, RD, SEBI, stock exchanges, trademarks and copy rights,

environmental and pollution matters, Human Resources, insurance and

liaisioning with government bodies and departments.

During his career, he has handled various Secretarial Matters, Contracts,

Litigations, Compliances, JVs, Private Equity, Business Acquisitions, FEMA/RBI,

Intellectual Property matters, Real estate advisory, Drafting & Pleading, and

Human Resources etc.

He has handled various Insolvency Assignments and empanelled with major

PSU banks as an Insolvency Professional

CA GR Godhani, M. Com, FCA, DISA(ICAI), IP

Mem. No :IBBI/IPA-001/IP/P-01201/2018 -2019/11921

ICAI Mem. No : 108192

Partner of Dhondge Patil Godhani & Co, Chartered

Accountants located at Surat & Nasik , Mainly into auditing

and Taxation and Project Finance and having customer

base engaged in wide range of industries products and trading house.

Worked as a self-employed in UK in the accountancy practices, taxation,

portfolio and other business matters. Well verse with IAS and UKGAAP.

Worked with one of the leading company namely LA Vision Ltd Manager

accounting and finance.

Secured 38thRank in CA final exam [Nov 1999] held by The Institutes of Chartered Accountants of India and Secured 5th Rank in Masters of Commerce, [Nov 1998] from M S University, Baroda.

Page 11: IPE Registration Number: IBBI/IPE/0064

9

He is master in various accounting software, IRIS, Sage Accounts, Sage Line50, Sage payroll, Tally, MS Excel and word. He is

1) Qualified Systems Auditor, DISA (ICAI)[ June 2016 ]

2) Certificate in Concurrent Audit of Bank branches. [ Nov 2016 ]

Devendra Umrao B. Com(Hons.) LLM, MBA

IBBI Reg No: IBBI/IPA-003/IPA-ICAI-N-00223/2019 -2020/12640

He has more than 25 years of managerial experience in the

field of Corporate Finance; Banking & Factoring domain

having worked with NBFCs, Factoring companies & Banks

including Maharashtra Apex Corporation Ltd., Fullerton India -

(wholly owned subsidiary of Temasek Holdings, Singapore), Centurion Bank,

HDFC Bank, India Factoring (subsidiary of PNB and FIM bank) among others.

His last stint, before joining Consultancy companies, was as Head of Credit &

Marketing for IFCI Factors Ltd. (a wholly owned subsidiary of IFCI Ltd).

Devendra Umrao has also been associated with African Export Import Bank-

AFREXIM (a multilateral financial institution with over 35 African countries as its

shareholder), Cairo as a Consultant in Trade Finance & Factoring.

Throughout his Corporate Finance tenor, Devendra had to deal with Debt

restructuring and revival strategies for Corporates which have stress on their

Balance Sheets. This experience along with his keen interest in Insolvency &

Bankruptcy field inspired him to become an Insolvency Professional. Mr.

Umrao is now a professional member of Insolvency Professional Agency of

Institute of Cost Accountants of India and duly registered with Insolvency &

Bankruptcy Board of India.

CMA Mukesh Khathuria [MBA, CMA, GMA (UK), IP]

IBBI Reg No: IBBI/IPA-001/IP-P01216/2018-19/11925

Mukesh Khathuria, is a finance professional with experience of

over 22 years in managing the entire gamut of Financial

Management, Corporate Finance, Debt Resolution & Advisory

He has wide and varied experience in different Industries – Manufacturing,

Infrastructure, Housing Finance, Real Estate and Logistics. I started my career

with Core Emballage Limited as Finance Executive in Dec 1995. Then moved

on to various organisations viz. Gruh Finance Limited, Adani Enterprises

Limited, K. Raheja Corp, etc. The last assignment held by me was with Arshiya

Group as Vice President – Finance. He also held the position of Chief

Financial Officer (CFO) for one of the Group Company – Arshiya

Infrastructure & Developers Pvt Ltd.

Page 12: IPE Registration Number: IBBI/IPE/0064

10

He has wide experience in the field of Project Finance, Due Diligence,

Working Capital Management, Dealing with stakeholders, Debt restructuring,

cost control, management and rationalization.

CA Ashish Garg (M. Com, FCA, FCMA, FCS, DIRM, DISA(ICAI), LLB, IP)

Reg. No. IBBI/IPA-001/IP-P01284/2019-20/12574

He has over 12 years of experience in his areas of practice of

and has a brilliant academic record. He is a Senior Fellow

Member of the Institute of Chartered Accountants of India

(ICAI) since 2006 and a qualified Information System Auditor

(DISA). He is also an fellow member of the Institute of Company Secretaries of

India (ICSI) and of The Institute of Cost Accountants of India (ICMAI). He was

placed in the All India Merit List of the Final Exams of the Institute of Cost

Accountants of India (with top rank in Chhattisgarh) in 2014.

He has also completed bachelor degree in commerce and in law and

successfully completed Certificate Course in International taxation. He has

also obtained Diploma in Insurance Risk Management (DIRM) from the

Institute of Chartered Accountants of India.

He has acted as a speaker at various forums relating to his area of expertise.

He has immense experience in the field of Audit & Assurance and Direct &

Indirect Taxation (domestic and cross-border) assignments. He has over the

last decade, worked in different practice areas both externally with law firms

and the industry and internally within the Firm, including auditing, domestic

taxation, financial and corporate advisory. He is also very active in various

social forums working for the noble cause and welfare of the society.

CS Ashish Singh [CS, LLB, IP]

Reg No. IBBI/IPA-002/IP-N00416/2017-2018/11230

He is a fellow member of Institute of Company Secretaries of

India having more than 15 years of rich experience in various

reputed Corporates consist of Corporate litigations,

Corporate Governance, Corporate Restructuring, Corporate

Law Compliances, SEBI related Compliances and other related matters,

served many reputed Corporates.

He came into legal practice in August, 2017, after enrolling with Delhi Bar

Council in September, 2017. He is proprietor of Legal Firm Namely M/S LSA &

Associates dealing in Corporate Litigations, Corporate Consultancy, tax

related compliances, secretarial compliances.

Page 13: IPE Registration Number: IBBI/IPE/0064

11

CA Dakshesh Choksi [B.Com., F.C.A., A.C.M.A., IP]

IP Reg No: IBBI/IPA-001/IP-P00718/2017-2018/11300

ICAI Membership No: 43371

ICWAI Membership No. 21184

Dakshesh Choksi, having brilliant academic career, qualified

as Cost Accountant in 1988 and as a Chartered Accountant in 1989. He was

awarded National Merit Scholarship and is an All India Rank Holder in C.A.

Intermediate examination.

He brings 3 decades of extensive experience across a diverse range of

services in Corporate Management & Finance including Resource

Mobilisation, Financial Restructuring, Promoters’ Equity Funding, Legal &

Taxation. He is a Specialist in Turnaround of Stressed Businesses. He provides

an "all-rounder" solution to the organisation to create value-addition from the

resources within.

He is a Senior Partner of the Chartered Accountancy firm M/s DJP &

Associates, having total partner strength of “5” and Founder Director of “4C

Strategic Advisors Private Limited”, a company providing complete financial

solutions to Corporates to turnaround. Mr. Choksi provides solutions to the

Corporates in stressed financial situation and helps the sick / potential sick

units to turnaround. Before forming the “4C”, he has worked in large

corporate houses of Ahmedabad taking care of entire gamut of

Management, including Finance & Banking, Accounts & Auditing, Taxation &

Legal and MIS & Operations Management. Having versatile experience with

Industry at a senior management level, he has got an edge to handle and

manage the responsibilities as an Insolvency Professional.

He has raised Funding for Mega Projects involving debt size of hundreds of

crores of rupees and made arrangements for Working Capital facilities, Line

of Credit facilities, Bills Discounting facilities. Total debts of Rs. 5000 Crores

raised for Corporates in the Textile Industry, Pharmaceutical Industry,

Chemical Industry, Metal & Steel Industry and NBFC as their Finance

Executive. He has also carried out Debt Restructuring exercise for large

corporates. He has presented rehabilitation schemes before BIFR for

providing solutions to the sick companies. He has also handled Right Issue

and Public Issue of Equity Shares. He provides an all-round solution to the

corporates for devising their revival and growth strategy.

Page 14: IPE Registration Number: IBBI/IPE/0064

12

CA Rajeev Bhatia [B.Com. F.C.A., IP]

IP Reg No: IBBI/IPA-001/IP-P01384/2018-2019/12158

ICAI Membership No: 041626

Rajeev Bhatia has over 30 years of post-qualification

experience spread across diverse industries including

Contracting, Real Estate, Marine EPCC, Surveys and Geotech

Engineering, Logistics, NBFC etc.

In the initial period of his career he worked as Assistant Editor of Dalal Street

Journal (Investment Magazine) and worked extensively with corporate,

intermediaries and regulators.

In addition to being an Insolvency Professional he is a Consulting CFO to

medium sized corporate having turnover ranging from INR 50 Crores to INR

300 Crores.

He brings with him key skills in the area of Treasury Management, Litigation,

Dispute Resolution JV negotiation and formation, Working Capital

Management, MIS, Compliances, Fund Raising, Risk Management.

He currently handles Treasury of over INR 200 Crores as a Consulting CFO

including Direct Equity, Equity Mutual Funds, Debt Mutual Funds, Forex and

International Bonds.

He is Graduate from Mumbai University and qualified as Chartered

Accountant in November 1987. Additionally, he has done Certificate Courses

in Arbitration and Valuation conducted by ICAI.

Page 15: IPE Registration Number: IBBI/IPE/0064

13

Professional Expertise:

We are providing the professional consultancy service in various areas since

the year 1990 particularly in the field of:

A. Project Finance;

Preparation of Project Reports for Medium and Large scale units;

Liaison with bankers and other departments/institutes/agencies for

execution of projects;

Funding from Nationalized Banks and other FIs in form of fund based

and non-fund based Exposures;

B. Management Consulting

Advisory to start ups;

Strategy Development;

Operational Improvement Services;

Cost Benefit Analysis;

Corporate Advisory & Planning;

Marketing Analysis and Support;

C. Corporate Restructuring

Advising on Corporate Mergers, Acquisitions, Take Over;

Resolution Process under BIFR / AIFR

CDR

D. NPA / Liquidation Management (Specialization) :

Managing NPA Portfolio for more than 15 years

Pre-bid assessment of the property, its valuation, economic viability,

marketability etc;

Participation in the bidding process and auctions for purchase of

property through Bank Auctions under SARFAESI Act, 2002, Official

Liquidator through High Court, Debt Recovery Tribunals (RDDBFI Act,

1993), Charity Commissioners (For Trust Properties);

Services for various documentation & execution of deeds of the

concerned properties, clearance of various dues, liasoning with various

government and non-government authorities, creditors and get the

appropriate orders to make the property marketable;

Dispose of the properties to the prospective investors/buyers;

Handling Legal Suits with various adjudicating authorities and courts like

DRT, DRAT, CLB, NCLT, NCLAT, High Courts and Supreme Court

Participated on behalf of clients into more than 100 auctions and

completed almost 30 projects on turnkey basis. Out of which certain

large scale projects successfully executed are mentioned below:

Page 16: IPE Registration Number: IBBI/IPE/0064

14

E. Auditing & Assurance

Statutory Audits (PSUs, Public and Private Companies)

Concurrent, Revenue & Stock Audits

Tax Audits

Special Audits

Financial Due Diligence

Management & Internal Audits

Forensic & Fraud Investigation

Review of Internal Control over Financial Reporting

Information System Audits

IFRS Implementation

Other Attestation Service

F. Special Assignments

Forensic Audit

Employee Check

Business Process Designing

Designing and Implementing SOPs

G. Transactional Audit

Preferential Transaction

Undervalued Transactions

Transactions Defrauding Creditors

Extortionate Credit Transactions

H. Due Diligence - Process of Resolution Plan

Compliance and requirements

Contravention of the provision of the laws

I. Eligibility under Section-29A of IBC, 2016

Of the Resolution Applicant

Disqualifications / Convictions/Offence

Willful Defaulters / N.P.A.

Disability under the Law in the jurisdiction outside India

Connected Person-Ineligibility

Related Party- Ineligibility

Prohibited by SEBI

J. Evaluation Matrix

Industry Based Matrix Preparation

K. Post Resolution Plan

Implementation and Supervision of the Resolution Plan

DISCLAIMER: All the aforesaid services are provided to the IPs who are directors of the IPE.

Page 17: IPE Registration Number: IBBI/IPE/0064

15

OUR KEY TEAM MEMBERS

Sr. No. Name Qualification

1. CA R. D. Choudhary M. Com, FCA, IP, Certified Forensic Auditor

2. CMA Ajit Kumar M. Com, FCMA, IP

3. CA Mukesh Khathuria FCMA, GMA (UK), MBA, IP

4. CA Ajay Milhotra B.Com (Hons), FCA, CS, MBA (UK), IP, Valuer (S&FA)

5. CS Sandeep Chandna M.Com, FCS, LLB, IP

6. CA Dharit Shah M. Com, FCA, L.L.B, DISA (ICAI), IP

7. CA Gordhan Godhani M.Com, FCA, DISA (ICAI), IP

8. CA Dhaval Mistry M.Com, FCA, CS, DISA (ICAI), Cert in Concurrent Audit, IP

9. CA Ashish Garg M. Com, FCA, CS, CMA, DIRM, DISA (ICAI), LLB

10. CA Ashish Singh CS, LLB, IP

11. CA Dakshesh Choksi B. Com, FCA, ACMA, IP

12. CA Rajeev Bhatia FCA, M.com, IP,

13. Devendra Umrao B. Com (Hons), LLM, MBA

14. CA Kinjal Chaudhary M. Com, FCA, Cert in Concurrent Audit

15. CA Arpita Jagetiya ACA ,B.Com

16. Mr. Rojer Choudhary MBA, Finance & Marketing

17. CA Gomti Choudhary M. Com, CA

18. CS Anisha Jhunjhunwala ACS, CSR Professional, B.Com

19. CA Mamta Kothari M.Com, ACS

20. Rojer Choudhary B. Com, MBA

21. CS Ankita Pugalia CS, B.Com

22. CA Jigar Shah F.C.A., M.Com

23. CA Anil Agarwal F.C.A., I.P.

24. Adv. Sumit Parikh B. Com, LLM

25. Adv. Priya Sogani LLB

26. Adv. Shilpa Sharma LLB

27. Adv. Elina Banerjee LLB

28. Adv. Soumya Choubey LLB

29. CA Dinesh Kumar CA, B. Com

30. CA Champat Solanki CA, B. Com

31. CS Rajesh Ramnani CS, B.com

32. CA. Aman Gupta CA, B.com

33. CMA Saurabh Poudyal CMA, B.com

34. Miss. Keerti Inter CS, B.com

35. Mr. Praveen Choudhary Inter CA, B. Com

36. Mr. Vijay Chaudhary Inter CA, B. Com

37. Mr. Harendra Rathore B.com

38. Mr. Dixit Prajapati MCA

39. Mr. Dhaval Makwana MCA

40. Mr. Rajesh Thakur MBA; IIT

41. CA Keyuri Morabia CA, B.Com

Page 18: IPE Registration Number: IBBI/IPE/0064

16

: Advocates on Panel:

1. Adv. Pavan Godiawala, having the office at 6th Floor, Karyashiromani

Tower, Near Rani Lakshmi Statue, Nehru Nagar Road, Ahmedabad

2. Adv. Natasha Surtaria, having the office at A-1001, 10th floor, Shapat

Hexa, Opp. Gujarat High Court, SG highway, Ahmedabad.

3. Adv. Jaimin Dave, having the office at A-801, Titanium square, Thaltej

Cross road, Thaltej, Ahmedabad.

4. Adv. Harmesh Shah, having the office at 4th Floor, Panchdeep Complex,

Mithakhali, Ahmedabad

5. Adv. Rajendra Gupta, having the office at 14, DwarkaSadan, C-40-42

Middle Circle, Connaught Palace, New Delhi

6. Sr. Adv. Deepak, having the office at 20, Padmalaya, 3rd Main Road, 10th

Cross, Wilson Garden, Bengaluru-27

7. Adv. David Rao and Adv. Vishnu Shankar having the office at 57,

Lawyer's Chamber,Supreme Court of India, New Delhi 110001

8. Adv. Aman Shankar, having the office at 9-C, Vardan Complex, Lakhudi

Circle, Navrangpura, Ahmedabad – 380014

9. Adv. Atul Sharma, having the office at 9-C, Vardan Complex, Lakhudi

Circle, Navrangpura, Ahmedabad – 380014

10. Adv. Vikky Dang, having the office at 83, National Media Centre,

Shankar Chowk, DLF Cyber City, Gurugram - 122002

Page 19: IPE Registration Number: IBBI/IPE/0064

17

Glimpse of Projects successfully completed related to NPA and Liquidation by

CA R D Choudhary:

(We are associated with the group of the Investors and took up the project

from the Bank/Financial Institutes/Official Liquidators in the Public Auction

sale on the turnkey basis from initial valuation survey, bidding process, title

clearance, legal issues marketing and dispose off in piece meal or whole of

project.)

A) Mysore Kirloskar Limited (in Lqn.)– Davangiri -Harihar, Karnataka

We had purchased this unit from OL, High Court of Karnataka and from point

of project viability to sale of the entire immovable and movable properties of

subjected company were finalized by me. I was appointed as professional

director in purchasing company and I had taken up all the activity mainly pre

bidding process, which was very important part of the project. There were

156 acres Land, Plants and machineries, Buildings, Foundries (One of the

Asia’s largest Foundry in form of Area cover and size of melting). I have

carried out the valuation of this project‘s machinery from various expert

groups and assessed the realization value of plant and machineries, scrap

and available realizable value from building / shed appx. (10 Lakhs/1 Million

Sq. Fts.)

At the time of pre bidding exercise we have estimated the weight of scrap

and plant and machineries which were matched with the actual sale. I had

taken the possession from OL, as representative director of the purchasing

company, Possession letter is attached herewith for ready references.

During the process of selling the movables and immovable, we faced lots of

hurdles like threats, political interference, local civil body interference and

arises litigation in different forum from civil courts to Supreme Court, I handled

all the suits in professional manner. The question was also raised by the local

body regarding the municipal taxes, labors’ issues and electricity outstanding

payments etc. all the issue were successfully handled.

The unit was split over 156 acre of land and was having golf course, with

helipad station and huge other amenities. During the Operation era there

were appx. 5500 workers working and 5500KVA power connection.

This was the best experience of our life and we learnt lot from this project like;

a. Business Strategies;

b. Sourcing and Supervising Manpower

c. Liasoning and Dealing with various authorities, agencies, institutes, local

bodies,

Courts, - stake holders and other parties etc;

d. Trading and Processing Activity;

e. Handling Critical Situation and passing out successfully from such

situations;

f. Handling the Legal Complexity, Planning and strategy to handle the

legal issues;

Page 20: IPE Registration Number: IBBI/IPE/0064

18

B) Parshuram Pottery Limited – Gujarat (Wankaner)

This unit was established in British era and this was only unit in India for

manufacturing pottery and Ceramics and in other wards this was mother unit

of all ceramic industries. All ceramic professionals and entrepreneur

developed the business in ceramic industries from the inspiration of this unit.

We have purchased the land and plant and machineries and successfully

sale out the plant and machineries and land.

C) K. Rasiklal & Co. – Manufacturer of Anil Diesel Pumps

Rajkot based diesel pumps manufacturing unit under the brand name of

“Anil”. This is the first unit of Rajkot manufacturing small diesel pumps (Ubadiya

Diesel Machine). We have purchased, land plant and machinery of the unit

and scrape. We had successfully sell all the movable and immovable

property of the unit.

D) Gujarat Telephone Cable Limited – Sanand

This was one and the only unit manufacturing push button telephone

supplied to the BSNL, MTNL and Telecom service providers. We had

purchased the land, plant and machineries of the units.

CA R D Choudhary has practical experience to manage the estate sites

particularly large size projects. Even at present I am giving consultancy

services to my clients for assessment of property value, procurement of

property in bidding process in auction held by the Justice Lodha Committee

appointed by Supreme Court of India in the matter of PACL. We have

already purchased few properties from this committee.