Integrated Capital Services Ltd · BSE:ICSL
Integrated Capital Services — Investor Presentation (January 2019)
40 slides from Integrated Capital Services's investor presentation, January 2019
Slide 1: Restructuring & Insolvency Situations in India
Restructuring & Insolvency Situations in India Status Update‐ Volume XVII January 2019
Slide 2: Disclaimer
Disclaimer INTEGRATED CAPITAL SERVICES LIMITED • This document is presented solely for the internal use of the recipient to whom it is marked by Aurum Equity Partners LLP (Aurum) and Integrated Capital Services Ltd (ICSL) and cannot be published or disclosed in part or in whole to any third party wi
Slide 3: Glossary
Glossary INTEGRATED CAPITAL SERVICES LIMITED BFSI Banking, Financial Services and Insurance bn Billion CA Chartered Accountant CIRP Corporate Insolvency Resolution Process CoC Committee of Creditors CRFAB Consumer, Retail, Food, Agri and Beverages EOI Expression of Interest FY Financial Year HNI Hig
Slide 4: Index
Index INTEGRATED CAPITAL SERVICES LIMITED S. No. Section Page 1. Restructuring Status Update 5 2. Key Developments in January 2019 9 3. Status of Key cases 16 ‐ Key Cases – Resolution Plan Approved by NCLT 17 ‐ Key Cases – Liquidation Ordered by NCLT 22 ‐ Key Ongoing Cases 25 4. Annexures 32 ‐ Cases
Slide 5: Restructuring Status Update
INTEGRATED CAPITAL SERVICES LIMITED SECTION Restructuring Status Update Strictly Confidential 5
Slide 6: Key Industry Statistics
Key Industry Statistics INTEGRATED CAPITAL SERVICES LIMITED Quantum of Unique Cases Filed* Sector Wise Allocation (by number of cases filed) Announced on IBBI website till 31st January 2019** Announced on IBBI website till 31st January 2019** 1,446 0% 2% 1% 10% 3% 22% 3% 4% Before Jan‐18 482 4% Jan‐
Slide 7: Key Phases-Resolution Process
Key Phases‐ Resolution Process INTEGRATED CAPITAL SERVICES LIMITED Phases Timeline of the proceedings Activities to be undertaken Model Timeline Phase 1 First 30 days from the date of Commencement of CIRP and appointment of IRP T filing Public announcement inviting claims from creditors T+3
Slide 8: Phase wise Analysis-Cases with NCLT
Phase wise Analysis‐ Cases with NCLT* INTEGRATED CAPITAL SERVICES LIMITED Phase 1: First 30 days from the date of filing Phase 2: Day 31 to Day 150 79 324 SRS Real Infra Specialty Polymer Puri Construction Kwality Ltd EMC Ltd Gitanjali Gems Compact Lamps Dex‐Vin Polymer Aakash Tiles Topworth Pipes B
Slide 9: Key Developments in January 2019
INTEGRATED CAPITAL SERVICES LIMITED SECTION Key Developments in January 2019 Strictly Confidential 9
Slide 10: Key Legal/Regulatory Developments
Key Legal/ Regulatory Developments INTEGRATED CAPITAL SERVICES LIMITED Key Circulars/ Notifications/ Amendments The Insolvency and Bankruptcy Board of India on 24th Jan 2019 amended the Insolvency and Bankruptcy Board Of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016 a
Slide 11: Key Legal/Regulatory Developments
Key Legal/ Regulatory Developments INTEGRATED CAPITAL SERVICES LIMITED Key Circulars/ Notifications/ Amendments The Insolvency and Bankruptcy Board of India on 24th Jan 2019 amended the Insolvency and Bankruptcy Board Of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016 a
Slide 12: Key Legal/Regulatory Developments
Key Legal/ Regulatory Developments INTEGRATED CAPITAL SERVICES LIMITED Key Circulars/ Notifications/ Amendments The Honorable Supreme Court of India on 25th January 2019 upheld the Insolvency and Bankruptcy Code 2016 in its entirety against petitions which challenged the law saying it was discrimina
Slide 13: Key Legal/Regulatory Developments
Key Legal/ Regulatory Developments INTEGRATED CAPITAL SERVICES LIMITED Key Circulars/ Notifications/ Amendments The Honorable Supreme Court of India on 25th January 2019 upheld the Insolvency and Bankruptcy Code 2016 in its entirety against petitions which challenged the law saying it was discrimina
Slide 14: Select New Cases in January 2019
Select New Cases in January* 2019 INTEGRATED CAPITAL SERVICES LIMITED Jason Dekor Pvt Earth Water Ltd Swastik Ceracon Regent Granito Asahi Industries Ltd Unnati Fortune SRS Real N. K. Louha Jeevan Jyoti Compact Lamps Holdings Infrastructure Udyog Vanijya Dex‐Vin Speciality Amrit Feeds Bewell Labs De
Slide 15: Key Developments from NCLT
Key Developments from NCLT INTEGRATED CAPITAL SERVICES LIMITED NCLT has ordered the liquidation of NCLT has rejected the resolution plan Reid & Taylor after all revival plans submitted by Edelweiss ARC for failed. The company owes INR 41 bn to Bharati Defence & Infrastructure Ltd its lenders Bha
Slide 16: Status of Key Cases
INTEGRATED CAPITAL SERVICES LIMITED SECTION Status of Key Cases Strictly Confidential 16
Slide 17: Key Cases – Resolution Plan Approved by NCLT
INTEGRATED CAPITAL SERVICES LIMITED Key Cases – Resolution Plan Approved by NCLT Strictly Confidential 17
Slide 18: Key Cases – Resolution Plan Approved (1/4)
Key Cases – Resolution Plan Approved (1/4) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Accepted Bid Status Update^ Company Claims (INR mn) Cap* (INR mn) (INR mn) • Tata Steel emerged as the successful resolution applicant Bhushan Metals and • NCLT approved Tata St
Slide 19: Key Cases – Resolution Plan Approved (2/4)
Key Cases – Resolution Plan Approved (2/4) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Accepted Bid Status Update^ Company Claims (INR mn) Cap* (INR mn) (INR mn) • CoC approved Resolution Plan submitted by Liberty House which offered bid of INR 43 bn • NCLT has ap
Slide 20: Key Cases – Resolution Plan Approved (3/4)
Key Cases – Resolution Plan Approved (3/4) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Accepted Bid Status Update^ Company Claims (INR mn) Cap* (INR mn) (INR mn) • Bids submitted by UltraTech Cement and Dalmia Bharat; CoC approved resolution plan of Dalmia Bharat
Slide 21: Key Cases – Resolution Plan Approved (4/4)
Key Cases – Resolution Plan Approved (4/4) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Accepted Bid Status Update^ Company Claims (INR mn) Cap* (INR mn) (INR mn) • CoC approved resolution plan submitted by Ingen Capital Group (bid of INR 14.9 bn) • NCLT approved t
Slide 22: Key Cases – Liquidation Ordered by NCLT
INTEGRATED CAPITAL SERVICES LIMITED Key Cases – Liquidation Ordered by NCLT Strictly Confidential 22
Slide 23: Key Cases – Liquidation Ordered (1/2)
Key Cases – Liquidation Ordered (1/2) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Liquidation Status Update^ Company Claims (INR mn) Cap* Value (INR mn) (INR mn) • Revised resolution plan submitted by Thriveni Earthmovers rejected by CoC Lanco • Resolution profess
Slide 24: Key Cases – Liquidation Ordered (2/2)
Key Cases – Liquidation Ordered (2/2) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Liquidation Status Update^ Company Claims (INR mn) Cap* Value (INR mn) (INR mn) • No resolution plan was approved by the lenders till the 270 day deadline • NCLT ordered liquidation
Slide 25: Key Ongoing Cases
INTEGRATED CAPITAL SERVICES LIMITED Key Ongoing Cases Strictly Confidential 25
Slide 26: Key Ongoing Cases (1/6)
Key Ongoing Cases (1/6) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Commencement Status Update^ Company Claims (INR mn) Cap* of Restructuring (INR mn) • Lenders have submitted claims for INR ~590 bn against the group Videocon • NCLT has consolidated cases against
Slide 27: Key Ongoing Cases (2/6)
Key Ongoing Cases (2/6) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Commencement Status Update^ Company Claims (INR mn) Cap* of Restructuring (INR mn) • NBCC, Kotak Investment, Cube Jaypee Highways and Suraksha group were Infratech shortlisted as bidders by the Co
Slide 28: Key Ongoing Cases (3/6)
Key Ongoing Cases (3/6) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Commencement Status Update^ Company Claims (INR mn) Cap* of Restructuring (INR mn) • CoC to decide whether to go ahead Era Infra with the CIRP or start with liquidation Engineering Infra 136,215 1
Slide 29: Key Ongoing Cases (4/6)
Key Ongoing Cases (4/6) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Commencement Status Update^ Company Claims (INR mn) Cap* of Restructuring (INR mn) • CoC approved resolution plan submitted by Srei Multiple Asset Investment Trust Deccan TME‐ • Interim applicatio
Slide 30: Key Ongoing Cases (5/6)
Key Ongoing Cases (5/6) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Commencement Status Update^ Company Claims (INR mn) Cap* of Restructuring (INR mn) • NCLT admitted appeal against the company filed by Andhra Bank Sterling • 3rd addendum to the EOI was H&P 67,860
Slide 31: Key Ongoing Cases (6/6)
Key Ongoing Cases (6/6) INTEGRATED CAPITAL SERVICES LIMITED Name of Industry Admitted Revenue FY Market Commencement Status Update^ Company Claims (INR mn) Cap* of Restructuring (INR mn) • RP invited EOIs from interested parties Wind Power 47,107^ 22,542 FY07 NA 20‐Feb‐2018 • Lenders have recommende
Slide 32: Annexures
INTEGRATED CAPITAL SERVICES LIMITED SECTION Annexures Strictly Confidential 32
Slide 33: List of Cases filed with NCLT in January 2019
INTEGRATED CAPITAL SERVICES LIMITED List of Cases filed with NCLT in January 2019 Strictly Confidential 33
Slide 34: Cases admitted to NCLT in Jan-2019 (1/4)
Cases admitted to NCLT in Jan‐2019* (1/4) INTEGRATED CAPITAL SERVICES LIMITED S.No. Name of Corporate Debtor Date of Last Date for Industry Commencement of Submission of EOI Restructuring (90 days) 1 Earth Water Ltd. 28‐Jan‐19 28‐Apr‐19 Others 2 Patnazi Power Ltd. 28‐Jan‐19 28‐Apr‐19 Power 3 Jason D
Slide 35: Cases admitted to NCLT in Jan-2019 (2/4)
Cases admitted to NCLT in Jan‐2019* (2/4) INTEGRATED CAPITAL SERVICES LIMITED S.No. Name of Corporate Debtor Date of Last Date for Industry Commencement of Submission of EOI Restructuring (90 days) 21 Sahil International Pvt. Ltd. 21‐Jan‐19 21‐Apr‐19 Textiles 22 Sattik Exports Pvt. Ltd. 18‐Jan‐19 18
Slide 36: Cases admitted to NCLT in Jan-2019 (3/4)
Cases admitted to NCLT in Jan‐2019* (3/4) INTEGRATED CAPITAL SERVICES LIMITED S.No. Name of Corporate Debtor Date of Last Date for Industry Commencement of Submission of EOI Restructuring (90 days) 41 Komorebi Exports Pvt. Ltd. 10‐Jan‐19 10‐Apr‐19 CRFAB 42 Realdream Digital Pvt. Ltd. 08‐Jan‐19 08‐Ap
Slide 37: Cases admitted to NCLT in Jan-2019 (4/4)
Cases admitted to NCLT in Jan‐2019* (4/4) INTEGRATED CAPITAL SERVICES LIMITED S.No. Name of Corporate Debtor Date of Last Date for Industry Commencement of Submission of EOI Restructuring (90 days) 61 SSV Engineers Pvt. Ltd. 03‐Jan‐19 03‐Apr‐19 Industrials 62 Great Unison Contractors India Pvt. Ltd.
Slide 38: About Aurum + ICSL Consortium
INTEGRATED CAPITAL SERVICES LIMITED About Aurum + ICSL Consortium Strictly Confidential 38
Slide 39: Aurum + ICSL Consortium
INTEGRATED CAPITAL Aurum + ICSL Consortium SERVICES LIMITED Aurum Equity Partners LLP ICSL Led by Sanjay Bansal, with 25 years of deal experience and Led by Sajeve Deora, is amongst top Restructuring one hundred and fifty successful transaction closures Professionals in India. Deep industry kn
Slide 40: Thank You
INTEGRATED CAPITAL SERVICES LIMITED Thank You Contact Persons: Sanjay Bansal Sajeve Deora Founder & Managing Partner Director Aurum Equity Partners LLP Integrated Capital Services Limited Tel: +91 124 4424477 Mob: +91 98119 03450 Mob: +91 98110 10810 Email: [email protected] Email: sanjaybansal
Integrated Capital Services — Investor Presentation (January 2019) on 6ix