Consult Insolvency
Consult Insolvency
Prior to the introduction of The Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy mechanism in India was in a disintegrated state. Lack of clarity and uncertainty due to multiple legislations and non statutory guidelines had made recovery of debts and restructuring of defaulted assets a tedious process. Since the current legal and institutional framework does not aid lenders in timely recovery of their dues, it was imperative to introduce reforms in Insolvency and Bankruptcy regime to improve the current business environment in India. Drafted by a specially constituted ‘Bankruptcy Law Reforms Committee (BLRC) under the Ministry of Finance
The Insolvency and Bankruptcy Code, 2016 was passed by the Parliament on 11th May, 2016, it received Presidential assent on 28th May, 2016 and was notified in the official gazette on the same day. The Code seeks to provide greater clarity in the law and facilitate the application of consistent and coherent provisions to different stakeholders affected either by business failure or inability to pay debt and will address the challenges being faced at present for swift and effective bankruptcy and insolvency resolution, the main aim being to promote entrepreneurship, availability of credit and balance the interests of all stakeholders.
Consult Insolvency is to promote excellence and thought leadership in insolvency, bankruptcy and restructuring policy and practice in India. To support the insolvent and distressed companies in their quest to restore the economic value of underperforming business and maximize value to the stakeholders.
The Consult Insolvency is premiere interdisciplinary forum for leadership in the field of insolvency and bankruptcy proceedings. To develop and bring resolution to financial sector.
We harbor an in house team of professionals with a multicultural background and with multilingual abilities. Our team members have been handpicked for the depth of their knowledge, commitment to client service and their capacity to forge lasting relationships with our Clients. Adhering to the world’s best professional standards and ethics, we bring our value of integrity, quality and team work to bear on each piece of advice that we deliver.
We also work with a range of external professionals to provide a complete and seamless service to our clients.
Registered Insolvency Professional,F.C.A.(ICAI), A.C.S.(ICSI), B.Com, Mumbai University Diploma in IFRS (ACCA UK),Certified Valuer (ICAI)
Pranav is a qualified Chartered Accountant and Company Secretary whose practice focuses on Taxation, Cross-border Transaction, Virtual CFOs, Transaction services, auditing and assurance, valuation etc. He is also one of the early certified Insolvency Professional
He advices on various issues relating to structuring and business efficiency for foreign company who wish to enter in India. He has significant experience dealing with foreign company in managing the entire finance operations of Indian subsidiaries including reporting and compliance. He has a rich experience in handling auditing and assurance services including internal audit and management audit. As a certified valuer, he has worked extensively with transaction happening between investor and investee companies. He and his team has handled various financial due-diligence on behalf of funds and investors as part of the transaction services, He has also successfully represented several clients at commissioner, appellate and ITAT level under Income Tax and allied laws.
Pranav works closely with the clients in devising effective and tax efficient structure. He is a key driver of value growth of business and assist client to sail through various business regulations as applicable to business entity. He advices the client on likely implication of the transaction from Direct and Indirect tax point of view. He provides valuation services from all regulatory point viz company law, Income Tax Laws, FEMA, IFRS etc.
MBA – Financial Management (All India Management Association, Master of Commerce (Awadh University)
Certifications: Financial Risk Manager – Risk Management (Global Association of Risk Professionals),Certified Financial Planner (Financial Planning Standard Boards – India)
Mr.Umesh Chandra, ex-Deputy General Manager with State Bank of India, is having more than 35 years’ experience with the bank. He has extensive experience of handling banks operations at various levels, including head of module with 250+ branches, and has got an experience of working in all facets of banking
Mr.Chandra has more than two decades core exposure in handling corporate credit and has been member & head of Credit-sanction committees handling advances of INR 500 mn & above. He has also been member of Credit committees sanctioning, re-structuring, re-phasement and resolution of stressed assets. He has been heading credit and operational risk management portfolio of mid-corporates with SBI for more than three years (portfolio >INR 400000 crores). He has been engaged in development, review and updation of policies and procedures for credit management and risk management as member of groups/committees. He has complete experience of seeing through and managing the entire cycle of corporate credit. He also has relevant exposure to anti-money laundering policies and procedures, including monitoring, detecting and reporting of transactions to Financial Intelligence Unit (FIU), India.
With his experience and exposure of handling credit and customer interface in solving all credit related issues, coupled with his awareness about all the industries where SBI has exposures, Mr.Chandra is aptly suited for handling all issues pertaining to resolution of Non-Performing Assets (NPAs) clouding the Indian banking system.
Registered Valuer ,Insolvency Professional , FIV (Fellow member Institution of Valuers , FIE [Institute of Engineers (India)] , Professional Engineer (Engineering Council of India)
Mr. Parag Sheth is Chartered Engineer, Registered Valuer and also an Insolvency Professional. He has over 25 years of experience in the field of civil engineering, construction technology, project management, ISO Audit, Management & Valuation. He is a strategist with extensive experience in operations, business developments, reengineering organization, enhancing stakeholder value and building teams. He has rendered valuation services for liquidation value, Capital gain tax, stamp duty/Estate duty, immovable property, auction bid, insurance, mortgage, general court purpose in order to determine amount of court fee stamp in suit.
His core competencies involves supervising project activities, controlling the project cost within the budget and monitoring of Cash flow, overseeing, maintaining and controlling quality standards, examining and verifying the methodology for a particular operation and maintaining all quality records, pertaining to QA/AC, developing site organization to suit the project needs; selecting construction methodology & implementation, deploying suitable manpower/equipment/materials & planning to ensure timely execution of the projects.
B.Com. (Mumbai University) ,ACS (Associate member of Institute of Company Secretaries of India)
Kavita is a Graduate in Commerce, and qualified Company Secretary. Kavita started her career with Tata Consultancy Services. She has experience in the field of Corporate Secretarial Matters pertaining to Incorporation of Companies and LLPs, Secretarial Audit, Due Diligence report, Capital infusion related procedures like right issues and private placement and various ROC related matters. She has also assisted in conducting Board of Directors, Committee and General meetings as per the provisions of Companies Act, 2013.
B.Com. (Mumbai University) ,ACS (Associate member of Institute of Company Secretaries of India)
Siddhi is a Commerce Graduate and Associate member of Institute of Company Secretaries of India. She has worked as Team Lead at Societe Generale Bank. She possesses comprehensive knowledge of Companies Act, 2013 and has experience in the field of concurrent audit, internal audit and various ROC related matters and Incorporation of Companies and LLPs. She has also assisted in conducting Board of Directors, Committee and General meetings as per the provisions of Companies Act, 2013.