Situation at the time R3 stepped in

• Change in government toll policy and delay in arbitration order, resulting in loss of capital
• Failed financial re-structuring resulting is un-resolved debt situation
• Erosion of Working capital due delay in project implementation
• Live bank guarantee amounting to approx. Rs 100 crores at the time of initiation of insolvency process

R3 Value Addition

• Identifying potential buyer for the Company
• Advising buyer to strategize the acquisition at right price
• Negotiated with banks/financial institution on behalf of buyer
• Identifying risk and extent of loss in the projects, against which bank guarantee were live and offered solution to honor the bank guarantee post acquisition

End Result

• Successfully acquired the Company under the insolvency process and is on turnaround path