Work Experienced Prior to Insolvency Profession of Mahender Kumar Khandelwal
I am Mahender Kumar Khandelwal is a registered insolvency professional and a Chartered Accountant. I have completed CIRP assignment of Bhushan Power and Steel Ltd. (lenders exposure >47,000 cr, recovery of ~ 19,700 cr. is at ~ 42%) I bring over 26 years of experience that spans various areas within finance and financial advisory services. I specialize in the field of resource mobilization, financial restructuring of distressed companies, settlement of debt and regulatory compliance. I have worked extensively on projects involving corporate debt restructuring, rectification advisory, restructuring and settlement of liabilities, fundraising, private placement of equity, OTS and expansion funding etc. for clients across various industry sectors like retail and consumer, metals, pharmaceutical, financial services, auto, etc.
Worked Experienced
1.2018-2019- PwC Professional Services LLP- Partner and Leader - Business Restructuring Services As a BRS Leader, I was leading a team of 70 dedicated professionals for the overall development and growth of the vertical. I have overseen and guided various CIRP assignments under various RP’s including Sukam Power Systems, Era Infra & Engineering, Uttam Value Steels, Uttam Galva Metallics, Parabolic Drugs, Diamond Power Infrastructure Ltd., Videocon group companies and PRIUS group of companies.
2.2017-2018- BDO India LLP, New Delhi, New Delhi - Partner & Leader- Business Restructuring As the leader and partner of BRS division, I was instrumental in establishing insolvency practice for BDO. Through persistent market development efforts, BDO was successfully awarded 3 out of first dirty dozen insolvency cases. These cases were Jyoti Structures, ABG Shipyards and Bhushan Power and Steel Ltd. BDO also won 3 cases in the mid-market segment. I also developed a team of insolvency professionals, an execution team for claim verification, process advisory, operation and maintenance, sectorial compliances, Balance sheet and cash flow monitoring. My team was the first one to develop systems, procedures and sops for insolvency practice. In the very first year of operations, we won more than Rs. 50 crore business.
3.2017-2004- Varrenyam Consultants Private Limited, New Delhi - Founder & Managing Director My firm was a leading advisor in the Corporate Debt Restructuring process (CDR) and was instrumental in strategy formulation, scheme preparation, financial modeling, valuation and techno-economic studies. We were also involved in finding strategic investors/buyers for some of the companies where the post-restructuring plan required additional funding.
4.2004-2000- Rollatainers Ltd, Faridabad, Haryana - General Manager I was instrumental in implementing Financial and Operational Restructuring. The financial restructuring involved Rephasement of repayments and lowering of interest rates in the first phase, creating a vehicle for Venture fund investment and saving the company from BIFR. As a member of Board presentation to board on various restructuring options, Strategy formation and approvals of the board on various cost-cutting and restructuring options including shutting down. I was also involved in strategy formation and approvals of the board on various cost-cutting and restructuring options including shutting down of loss-making businesses. Redesigning of MIS Systems and assisting top management on various financial strategies. Consolidation and Centralization of Finance, Accounts and Purchase function. Business valuation, financial modeling, Audit Finalization – Statutory, Internal, Tax, Stock, Concurrent and due diligence.
5.2000-1997- Modi Rubbers Ltd, New Delhi, New Delhi- Senior Manager - Finance and Accounts Part of Modicorp (ultimate holding company of B. K. Modi group companies), I was responsible for managing funds, control, overall supervision of accounts department of 13 companies in layers of holding and subsidiary structure.
6.1997-1992- Sarda Plywood Industries, New Delhi, New Delhi - (Senior Manager – Finance) As a part of the new project, the division worked on project evaluation and viability study of various projects and participated in the launching of a new project from grass root level to a concept paper for management, Joint Venture Partners, and term lending institutions, venture capital funds, banks and state-level institutions. I was also responsible for the arrangement of export credit limits from banks and export documentation. Overall supervision of Accounts department, balance sheet finalization and other related activities.
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