Imarticus will be conducting a free webinar on Asset Reconstruction and Compliance, in collaboration with Ernst & Young LLP. The key points of discussion within this Webinar would be the situation of distressed assets in India and the various remedial measures for the same.
Recently, the Union Budget of 2016-17 has gone on to increase the ceiling on foreign investments in ARC’s to about 100%, in a bid to provide the much needed stimulus to the industry. Distresses asset funds, were earlier very wary about this market, due to the various legal and regulatory issues, however due to the change in the scenario, ARC’s have begun a paradigm shift in their approach and functioning – from being asset resolution vehicles to becoming a platform for a revival of large businesses by bringing in operational capabilities.
The distressed asset situation in India has gradually degraded over the past few years. This has been a result of the numerous bad loans, which have resulted Indian Banks into troubled waters. In keeping with this situation, the banks are in dire need of immediate and systematic approaches to ensure sustained recoveries in order to bring about a turnaround. There have been efforts from both, the government of India and SEBI, which have been striving towards the creation of a conducive environment for the distressed assets industry.
This webinar will be presented by Mr. Abizer Diwanji, who is the Partner and National Leader for Financial Services and Restructuring at EY LLP and would be accompanied by Mr. Rahul Srivatsa, who is the Director of Restructuring Services at EY LLP. Both of these industry experts would shed light on the issues of distressed assets and how to tackle the various potential liabilities caused as a result of them.