Deal Report | Pricewaterhousecoopers Professional Services LLP | Advisory to the Resolution Professional in relation to the Corporate Insolvency Resolution Process of Pawan Impex Private Lim

Khaitan & Co acted as legal counsel to the Resolution Professional (RP) of Pawan Impex Private Limited (PIPL) in the Corporate Insolvency Resolution Process (CIRP) of PIPL. Mr. Mahender Kumar Khandelwal was appointed as the Resolution Professional of PIPL by the order of Hon'ble NCLT, Principal Bench.

The details of the deal are as follows:

Sector Real Estate

Deal Description The CIRP of Pawan Impex Private Limited (PIPL) was initiated by the order of Hon’ble NCLT, New Delhi, Principal Bench dated 25 July 2019. Mr. Mahender Kumar Khandelwal was appointed as the Insolvency Resolution Professional. PwC India Team advised the RP on the CIRP.  

Name and Description of Acquirer Consortium of DMI Alternative Investment Fund Fact Software Private Limited and Yash Gupta | India 

Total Consideration USD 20.65 Millions 

Team Members The deal was led by Siddharth Srivastava (Partner) along with his team members Harshit Khare (Principal Associate), Mohit Kishore (Principal Associate), Raunak Singh Rahangdale (Senior Associate) and Udita Singh (Associate). Litigation assistance was provided by Wamika Trehan (Principal Associate) and Shivank Diddi (Senior Associate). 

Role of Firm Acted as legal counsel to the Resolution Professional (RP) of Pawan Impex Private Limited (PIPL) in the Corporate Insolvency Resolution Process (CIRP) of PIPL. Mr. Mahender Kumar Khandelwal was appointed as the Resolution Professional of PIPL by the order of Hon'ble NCLT, Principal Bench. Our team acted as legal advisor to the Resolution Professional in relation to the corporate insolvency resolution process of PIPL. The RP side advisory was done by Siddharth Srivastava, Harshit Khare, Raunak Singh Rahangdale, Mohit Kishore, and Udita Singh. Wamika Trehan and Shivank Diddi facilitated litigation matters relating to the transaction before the Hon’ble NCLT, Principal Bench. Our Team played an important role in negotiating the resolution plan with the various resolution applicants who submitted their resolution plan in the CIRP of PIPL. The Resolution Plan submitted by the Consortium of DMI Alternative Investment Fund, Fact Software Private Limited, and Yash Gupta has been approved by the Hon'ble NCLT, Principal Bench vide its order dated 31 May 2021.