DISTRESSED MERGERS AND ACQUISITIONS
OVERVIEW
The new insolvency law of India has resulted in significant development of distressed M&A in India. Acuity Law has been at the forefront of this practice area due to our significant experience in the field of M&A and our consistent involvement in the field of insolvency, especially since the inception of The Insolvency and Bankruptcy Code, 2016 (IBC). Acuity Law has been involved in the biggest insolvency rescue transaction in recent times involving Essar Steel Limited. Further, our founder Souvik Ganguly has advised on some of the biggest distressed M&A transaction prior to starting Acuity Law. Acuity Law advises investors as well as resolution professionals appointed under the insolvency law in distressed M&A transactions.
ROLE
Our scope of work, if representing an investor, includes:
assisting the investor in following the bidding process
establishing consortiums
drafting resolution plans as required under the IBC
if required, representing the investor at the relevant insolvency court, i.e., the National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal and the Supreme Court of India.
As the insolvency law mandates a strict timeline for such distressed M&A transactions, Acuity Law also specializes in conducting legal due diligences and assisting the investor and its other advisers to understand and formulate risk mitigation structures.
Our scope of work, if representing the resolution professional, includes:
advising on various provisions of the IBC
drafting and finalizing the invitation to prospective investors
reviewing expression of interests submitted by prospective investors assisting the resolution professional to draft and finalize the request for proposal
represent the resolution professionals in the relevant insolvency court including the NCLT, the National Company Law Appellate Tribunal and the Supreme Court of India