Duff & Phelps, the global advisor that protects, restores and maximises value, on Thursday announced that it will expand its portfolio of services to leverage opportunities presented by the Insolvency and Bankruptcy Code (IBC). Expanding its leadership in valuation advisory services, Duff & Phelps India will focus on distressed M&A, process advisory and sell-side advisory for distressed companies that are considering the National Company Law Tribunal (NCLT) route of resolution.
Additionally, Duff & Phelps’ recent acquisition of Kroll enhances the company’s due diligence and forensics capabilities, a key success factor in the resolution of IBC cases.
Commenting on the development, Paul Williams, Managing Director, Restructuring – UK, Duff & Phelps said, “Our strategy is differentiated by our ability to bring the wealth of our global credentials in bankruptcy, insolvency and restructuring to India. We believe our international fund network will be a rich vein of investment for IBC cases to drive successful resolution and deliver optimal value back to creditors.”
“We work with some of the biggest hedge funds, private equity firms and distressed assets funds across the globe and can assist them on ‘buy’ mandates as part of distressed M&A services. This will be particularly beneficial for pre-NCLT or early-stage NCLT admitted cases,” added Abhishek Pandey, Managing Director, Duff & Phelps.
The company has already executed valuation mandates for six of the twelve largest companies in India as part of the Insolvency and Bankruptcy Code and has a team of close to 120 people locally working on projects related to the IBC legislation. The company plans to increase this headcount to 200 by next year.
