TMA India

Exciting times for TMA India!!! Nearly a year ago, TMA India members began assisting a promising startup, Bark Beat. Check out our post from last year here: https://lnkd.in/gjW9BHhs Today, Bark Beat is rapidly expanding across India and internationally, introducing a revolutionary new sport. This unique discipline combines physical training, spiritual development, and holistic fitness, offering an innovative alternative to traditional boxing by harmonizing the mind, body, and sensory experiences of sight, sound, and touch. At TMA India, we’ve gone beyond traditional business revival efforts. Our members have been actively supporting startups, social enterprises, and charitable organizations in optimizing their financial and operational frameworks to achieve greater impact and efficiency. Please Click here for the video: https://lnkd.in/g_ga6UNj Turnaround Management Association TMA Europe TMA Brasil TMA Australia Turnaround Management Association (TMA UK) TMA - FRANCE TMA SERBIA IPA of Institute of Cost Accountants of India ICSI Institute of Insolvency Professionals Indian Institute of Insolvency Professionals of ICAI INSOL International Join TMA India

The TMA NOW/IWIRC Networking Lunch & Keynote Presentation sponsored by Carl Marks Advisors at this year's Annual were the talk of the afternoon. Keynote Laura Katen was truly the apple of our eye as she empowered attendees to claim their voice and take authority over their true love, themselves. As transparency and relevant stories were shared you couldn't help but feel the #TMALove #TMAAnnual

The top half of the #TMAAnnual has been nothing short of amazing! The TMA Restructuring Boot Camp sponsored by Gordon Brothers was definitely a highlight as attendees dived deep into their love for the world of restructuring. #TMALove

Tyrone Courtman, president of TMA Europe and Turnaround Management Association (TMA UK) colleague speaking eloquently at the opening session of the Turnaround Management Association annual conference focussing on the significant mega trends currently shaping the restructuring landscape, providing insightful perspectives on how these trends are influencing the future of corporate turnaround. Tyrone Courtman Alan Tilley Sam Duberley Deniz Gunes Christopher Poel Joanne Rumley Paul Davies Helen Jacobi Turnaround Management Association (TMA UK) #tma #megatrends #annualconference

Mr. Ratan Tata continues to live on in the hearts and minds of all Indians and by those who knew him and were touched by his contributions. Ratan Tata, the former Chairman of TATA SONS LIMITED and one of #India’s most respected business leaders is widely celebrated for his acumen in turning around businesses. His leadership was characterized by a strong vision, a blend of humility and resilience, and an innate understanding of market dynamics. Under him the Tata Group expanded significantly, making strategic acquisitions and entering new markets. His ability to drive #turnaround strategies across diverse industries, from automobiles to steel, from salt to airlines, sets him apart as a transformational leader. One of the most prominent examples of his turnaround acumen was the acquisition of British steelmaker Corus and automakers Jaguar Land Rover UK (JLR). The JLR acquisition in 2008 was made during a period of global economic turbulence. Many believed that Tata Motors was ill-equipped to handle such premium brands. However, Mr. Ratan Tata saw potential and opportunity where others saw risk. He recognized the long-term value in JLR’s engineering and heritage, and his bold decision paid off. Over time, JLR became one of Tata Motors' most profitable ventures, demonstrating Mr Ratan Tata’s ability to identify opportunities and nurture them into success. He displayed a similar mindset with the launch of the Tata Nano car, aimed at providing affordable transportation to millions of Indians. Although the Nano didn’t achieve the commercial success initially expected, the project showcased Ratan Tata's deep understanding of consumer needs and his commitment to social impact through business. Tata Consultancy Services (TCS), under his leadership, grew from a small division into a global IT powerhouse. Mr. Ratan Tata understood the growing importance of the technology sector and positioned TCS to cater to a global clientele, creating a culture of continuous innovation and customer centricity. Mr. Ratan Tata’s turnaround acumen lay in his ability to blend bold strategic decisions, innovation, people-focused leadership, & long-term thinking. His stewardship of the Tata Group has become a model for aspiring business leaders around the world. Whether through the successful revival of brands like Jaguar Land Rover or the expansion of TCS, Mr. Ratan Tata's legacy is one of resilience, innovation, & ethical leadership, a testament to his extraordinary business turnaround abilities. TMA India looks forward to carry on Mr. Ratan Tata's legacy of creating value and driving successful business transformations for the betterment of the Global Economy. Turnaround Management Association Turnaround Management Association (TMA UK) TMA - FRANCE TMA Australia TMA Brasil TMA SERBIA TMA Italia ICSI Institute of Insolvency Professionals IPA of Institute of Cost Accountants of India INSOL International INSOL India Indian Institute of Insolvency Professionals of ICAI

TMA India in Association with ICSI Institute of Insolvency Professionals is hosting a virtual webinar on REVITALISING CD: TURNAROUND STRATEGIES AND SOFT SKILLS FOR SUCCESS SPEAKERS Satish Kumar Gupta Ashish Rathi Indu Basu Rocky Ravinder Gupta TOPICS # Turnaround of Operations of CD Key Factors and Enablers # Case Study of SKS Power Generation (Chhattisgarh) Limited # Developing Soft Skills - Conflict Management between Stakeholders 5th October 2024, 1400 IST to 1700 IST #India

Celebrating Mahatma Gandhi's Birth Anniversary - his teachings, particularly those on leadership, resilience, and ethical conduct, offer valuable insights that can be applied to business turnarounds: 1. Truth and Transparency (Satya): Gandhiji's emphasis on truthfulness can guide businesses in distress toward transparent communication with stakeholders. Honest and transparent engagement with employees, creditors, and customers builds trust, which is critical during a turnaround. 2. Non-Violence (Ahimsa) in Conflict Resolution: In business, this can be interpreted as creating a collaborative environment where conflicting parties, such as creditors, management, and employees work together peacefully to achieve a common goal. Instead of adversarial negotiations, Gandhi’s approach encourages finding mutually beneficial solutions. 3. Resilience and Determination (Satyagraha): Gandhiji's concept of Satyagraha, or steadfastness in the face of adversity, is a powerful metaphor for businesses going through tough times. Turnarounds require strong will, consistent efforts, and the ability to remain committed to long-term goals despite challenges. 4. Leadership by Example: Gandhiji led through personal example. In a business turnaround, leadership is the key. Leaders must inspire their teams by taking personal responsibility, demonstrating commitment, and showing resilience, even in difficult circumstances. 5. Simple Living and Sustainability: Gandhiji advocated for simplicity and sustainable living. In business, this can translate to cost management, operational efficiency, and a focus on sustainable growth rather than short-term gains. Incorporating these values into turnaround strategies can create ethical practices, people-centered, and sustainable recoveries for businesses facing hardship. Turnaround Management Association TMA Europe Turnaround Management Association (TMA UK) TMA - FRANCE TMA Australia TMA Brasil TMA SERBIA TMA Italia ICSI Institute of Insolvency Professionals IPA of Institute of Cost Accountants of India Indian Institute of Insolvency Professionals of ICAI INSOL International INSOL Europe INSOL India #India #businessrescue #revival #turnaround

Family businesses are the backbone of #India's economy, contributing significantly to employment, #innovation, & #economic development. However, many of these businesses face challenges, particularly during periods of financial stress. TMA India believes that there is a better way to navigate these challenges, and it begins with a shift in mindset. Identifying the Root Cause, Not Just the Symptoms. The first step in turning around a struggling family business is to identify the real causes of its difficulties. Often, business owners focus solely on the financial shortfall, overlooking operational inefficiencies, outdated business models, or changing market dynamics. A decline in #business performance is rarely due to a lack of capital alone. More often, it is symptomatic of deeper structural issues that need to be addressed. While an infusion of capital is sometimes necessary, it should be done strategically. Business owners should evaluate whether the funds will be used to invest in growth opportunities, improve #operational efficiency, or simply cover existing liabilities. If the latter, additional debt can compound the business’s problems rather than solve them. 1. Thinking Outside the Box: One of the biggest challenges for family-run businesses is a reluctance to think outside the box. Many of these businesses have been successful for generations, following tried-and-true methods. While this tradition is valuable, it can also create resistance to change. In today's fast-paced business environment, agility and #innovation are critical to staying competitive. Family businesses must be willing to adapt to new trends, technologies, and business models to remain viable. 2. The Value of Strategic Planning and Professional Management: Another key aspect of turning around a family business is the adoption of professional management practices. Many family businesses operate informally, with decision-making concentrated in the hands of a few family members. While this can help in quick decisions and maintain control, it often leads to a lack of accountability & oversight. 3. Introducing a more formalized structure, can help improve decision-making and operational efficiency. Establishing clear goals, setting key performance indicators (KPIs), and regularly reviewing performance against these metrics allows the business to stay on course. It also provides a framework for identifying and addressing issues before they become crises. Infusing Capital Strategically While the challenges facing family businesses in India are real, they are not insurmountable. The key to success lies in adopting a proactive and strategic approach to addressing the root causes of decline. By embracing innovation, professionalizing management practices, and thinking beyond financial infusion, family businesses can not only recover from difficult periods but also position themselves for sustainable long-term growth.

Why Pre-Insolvency Resolution Frameworks will face Challenges in India? #Preinsolvency, in the Indian context, remains a vague and largely undefined term. Does it refer to the period before a business defaults on its obligations? or Does it encompass the phase just before an #insolvency petition is filed? In the most practical sense, pre-insolvency should mark the point when a MSME business first enters a state of insolvency. However, due to the absence of regulations on directors' liability for insolvent trading and subsequent reporting, it is extremely difficult to pinpoint this moment in India. As a result, many businesses continue to trade for 2 to 3 years post entering a state of insolvency. This prolonged operation leads to the depletion of critical resources and diminishes any realistic chances for #turnaround. The following consequences typically occur, though not necessarily in this order: 1. Diminished Revival Capacity: As resources are progressively depleted, the business loses its capability to restore #operations or attract fresh capital for #revival. 2. Revenue Decline: The ability of the business to generate #revenue or attract #funding takes a significant hit, further compounding #financial distress. 3. Credit Rating Deterioration: The company's credit rating suffers, reducing the chances of securing additional #debt or #equity infusion. 4. Loss of Key Stakeholders: Employees, vendors, and customers, sensing instability, begin to leave, leading to operational disruption. 5. Promoter personal Asset Depletion: Promoters often resort to using personal assets to fund business operations, putting both the #business and personal finances at risk. 6. Operational Neglect: Rather than focusing on #operations improvements, the business becomes entirely focused on short-term cash generation via debt or equity, in a futile attempt to stabilize. 7. Increased Stress on Stakeholders: #Promoters, #investors, #employees, and #vendors experience immense stress, further eroding the foundation for business revival. 8. Delayed Government Dues: #Government dues and taxes often fall into arrears, adding #legal and financial pressures. 9. Frequent Creditor Notices: As payments are missed, #creditors begin issuing legal notices under various laws, escalating pressure on the business. At this juncture, the MSME business is typically no longer viable. The resources, capacity, and options for revival are exhausted, leaving the company beyond the help of mechanisms like pre-packs, the upcoming Creditor Led Resolution Process (CLRP), or even the CIRP. #India requires an ecosystem that recognizes early warning signals and triggers mitigation strategies before the business crosses the point of no return. TMA India and Early Warning India are raising the awareness of early intervention for a better probability of success in revival and restructuring of businesses. Turnaround Management Association TMA Europe INSOL International INSOL India

Confession of an Insolvency Professional: Transformation From Negativity My journey as an insolvency professional (IP) began in autumn of 2018. The initial excitement of working as an IP quickly shifted as I encountered the harsh realities of the process. #Creditors #Vendors #Employees #Promoters #Government officials, and the Committee of Creditors (CoC) all wanted one thing #recoveries. With low #valuations, everyone seemed to fight for their pound of flesh, and the air was thick with negativity. The backbiting, constant complaints, and pressure were inescapable. The weight of these emotions began to affect me in ways I hadn’t anticipated. The negativity surrounding every step of the #insolvency process started to seep into my own thoughts and mindset. Then came a pivotal moment in autumn of 2019 - a visit to London, where I met British IP's, who were experiencing significant levels of stress in their professional endeavors. That conversation stuck with me, igniting a spark. I began to reflect deeply, how could we, as IP's, remove the dark cloud of negativity from this industry? How could we bring hope and positivity to businesses in distress? The COVID-19 pandemic arrived soon after, bringing lockdowns and further uncertainty. But it also provided time for introspection. I resolved to find solutions. By September 2020, we were in talks with Early Warning Europe Network project head, Morten Møller and soon after, we laid the groundwork for Early Warning India - a platform designed to help businesses overcome stress and regain their footing during the crisis. The journey didn’t stop there. In 2022, we initiated discussions with Turnaround Management Association and it's CEO Scott Stuart to establish a chapter in #India, to bring global best practices to support struggling businesses. After months of effort, we signed the conditional agreement in July 2023 and the final agreement in June 2024 at London - where it all started in the first place. #Video Today, we stand at the crossroads of #transformation, determined to shift the narrative in the insolvency profession. It’s not just about recoveries or cutthroat tactics. It’s about creating a culture of #revival, where businesses in distress can find the support they need to rebuild and where we, as professionals, can create a more positive, solution-oriented environment. The true essence of reviving businesses lies not in #liquidation or merely recovering dues, but in orchestrating a business turnaround - a fresh start that breathes life back into businesses/startups on the brink. By focusing on early intervention, #collaboration, and using the right tools & guidance into the process, we can help businesses reimagine their future. TMA India is on a mission to advocate for a proactive #startups ecosystem and a solution-driven approach to #distressedbusinesses - one that doesn’t just settle debts but revives dreams, preserves jobs, and builds a stronger economic foundation for the future.