ipe registration number: ibbi/ipe/0064
TRANSCRIPT
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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
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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
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: 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
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: 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
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: 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
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: 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
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: 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.
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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.
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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
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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.
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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.
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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.
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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.
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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.
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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:
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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.
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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
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: 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
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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;
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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.