Borrelli Walsh has entered a joint venture agreement with Sajeve Deora to establish offices in India, formalising an association between two firms that has existed for over 15 years.
Borrelli Walsh India will focus on advising on the restructuring of and exit from distressed businesses, undertaking due diligence for hedge funds and private equity firms in respect of their investments in India and assisting Promoters in their negotiations with investors.
Borrelli Walsh is a leading provider of restructuring, insolvency and forensic accounting services, with over 140 staff across 10 offices in Asia, USA, Caribbean and Europe and has led some of the most complex restructuring assignments in the region in recent years.
Sajeve Deora has over 30 years’ experience with the turnaround of businesses and financial restructurings in India. Sajeve is an Insolvency Professional registered with the Insolvency and Bankruptcy Board of India and is also listed on the panel of Arbitrators maintained by the Institute of Chartered Accountants of India.
Borrelli Walsh India will be led by Karnjote Singh with the close support of Borrelli Walsh’s Managing Directors Jason Kardachi and Cosimo Borrelli.
Karnjote has strong financial and operational restructuring and due diligence skills and experience, including with business reviews, formulation of restructuring strategies, negotiation of restructuring plans, advising boards of directors in their conduct of distressed affairs and structuring and implementing exit strategies for investors from stressed assets. Karnjote is a qualified accountant and speaks English, Punjabi and Hindi.
Borrelli Walsh will open its first office in New Delhi.
“The India market has evolved since the enactment of the Insolvency and Bankruptcy Code 2016 and there is substantial demand for early resolutions to preserve value. Borrelli Walsh has been advising Asia-based clients on their distressed investments in India for many years and our ongoing presence in this market and the need to better support our clients, has led us to establish a presence in India”, said Jason Kardachi.
“We have worked with Sajeve on multiple assignments for over a decade. He has vast knowledge of the Indian market and business community and is an experienced insolvency and restructuring professional with an outstanding reputation. We are excited with the Joint Venture which will combine our respective expertise for the benefit of our clients in India”, said Cosimo Borrelli.