Insolvency & Bankruptcy Code (IBC)
With the introduction of IBC, 2016 in December 2016 Mr. Jain immediately registered himself as Insolvency Professional with the Insolvency & Bankruptcy Board of India (IBBI) and got his first case in February 2017. Here the process was set –but the goal was the same i.e. to assist the problem-facing units with a prime focus on resolution. As Mr. Jain is having huge experience in this field he has been working in this field successfully. He has worked for as many as 13 matters under IBC under various capacities – IRP, RP, and Liquidator.
With his ability to serve as a management consultant, he also took care of all units (as IP) and provided exemplary leadership to manage the unit as a “Going concern” –a prime rule under the code. With his wide contacts as a management consultant, he could source Resolution Applicants and provide successful Resolution Plans in some of the matters.
Management
Mr. Jain is having wider experience in handling matters of BIFR (Since scrapped with the introduction of NCLT under the Companies Act, 2013), CDR mechanism, Restructuring, and other means and ways available to liquidity crunch-facing units. With the introduction of the Insolvency & Bankruptcy Code (IBC), all such matters are mostly treated under IBC Regime. Mr. Jain has also worked in this area too which is described separately
Management Consultancy
This will include understanding your financial need, understanding your working capital needs and working capital cycle, your production cycle, etc. Having understood all such factors, tailor-made planning shall be offered which shall include steps like improvement in the operating cycle, development of check tools that will prevent interest loss on working capital utilization, etc. This will lead to better profitability.
Financing
This will include the launching of an entirely new project or the modernization /expansion of any existing project. The need for capex expenditure and working capital will be identified on a realistic basis so that no overburden of interest cost or no tightening of funds is felt at a later stage.
