VINOD KOTHARI CONSULTANTS PRIVATE LIMITED

PROFILE

Vinod Kothari Consultants Private Limited is a consulting company focused on providing consulting services in the field of securitisation, derivatives, asset based financing and related areas.

The company is headed by Mr. Vinod Kothari. Vinod Kothari is an internationally known expert in fields of securitisation, asset backed financing and credit derivatives. Author of 5 authentic books, Vinod Kothari lectures all over the world in the areas listed above. Vinod Kothari is also a visiting faculty at Indian Institute of Management, Joka, Calcutta, where he teaches structured finance, and at National University of Juridicial Sciences, Calcutta, where he teaches bankruptcy laws. Vinod Kothari, chartered accountant and company secretary, is a former chairman of the Institute of Company Secretaries of India.

The company has a team of consultants, interns and trainees. These include young and brilliant professionals from the Institute of Company Secretaries, Institute of Chartered Accountants, interns from the National University of Juridical Sciences and students of the Indian Institute of Management. Needless to emphasize, these young professional provide a constant resource of research, project preparation, documentation, etc.

We have two main divisions:

• Consulting services
• Training services

Consulting services:

The major areas of our consulting include:

• Securitisation, mortgage lending, affordable housing, etc
• Credit derivatives,  other OTC derivatives, derivatives valuation, structured finance, derivatives accounting
• Asset backed lending and financing including micro finance, leasing, secured lending, Islamic finance,  and related areas
• Corporate restructuring, takeovers, corporate advisory services

Experience in securitisation, mortgage lending, affordable housing, etc:

We are one of the leading experts on securitisation in this part of the world. Since securitisation primarily involves securitisation of mortgage receivables, we have an intensive understanding of mortgage lending business as well. 

Some of the notable assignments handled by us include:

1. We were hired by the a Govt of Jordan body National Company for Development of Housing for developing a model for extending finance for affordable housing, and refinancing the same using capital market funding. We developed a comprehensive report, and a highly innovative model for government-participation in affordable housing, and raising of capital market funding for the same. We were able to transform government subsidies into government equity, and thereby remove impact on government budgets.
2. To provide intellectual inputs on affordable housing, we have also put up a section of our website at http://vinodkothari.com/affordable_housing.htm
3. We have handled a private training course for world’s top housing refinance company Fannie Mae. This was an in-house training course and the training was preceded by intensive discussions on Fannie Mae’s mortgage refinance initiatives.
4. We have been a  retainer to one of the rating agencies (CARE) in India. During our retainership, we have advised the client on their rating methodology, specific structured finance ratings proposals. The rating agency has rated several transactions of housing loan receivables too.
5. We have handled securitisation of housing finance portfolio of Philippines government-sponsored refinancing organization. We had been hired by a Philippines rating agency for preparing a cashflow model for the securitisation transaction. The transaction has since been completed, and is regarded as Philippines’ first securitisation of mortgage receivables.
6. Providing comprehensive modeling and structuring consulting to a South African boutique investment bank called Musa Capital Advisers on securitisation of low cost housing.
7. Vinod Kothari has  been on an Asian Development Bank consulting group to advise the Government of India on securitisation and enforcement of security interest laws in India. The group is responsible for suggesting comprehensive amendments to the SARFAESI Act in India to make securitisation and security enforcement laws effectively work in the country.
8. Providing comprehensive consulting on securitisation of consumer finance receivables to Moccis, a company based in Malaysia. We adopted a hand holding approach to their securitisation effort including basic guidance, advising on the financial economics, structuring of their proposed securitisation, etc.
9. Assisting the South African Revenue Service (income-tax department of South Africa) in preparation of a taxation manual for securitisation and synthetic securitisation transactions. We prepared a detailed guideline on securitisation and assisted them to prepare a taxation scheme to ensure tax neutral and yet robust taxation environment.
10. Year-long retainership with Citibank for their securitisation activities in the country. During this term, we advised the bank on several securitisation transactions where Citibank was the structurer/investment banker.
11. Advising Cognizant Technologies, an IT Company headquartered in the USA, on structuring and modeling of residential mortgage backed transactions. Cognizant engaged us for a 6-month consulting contract for the modeling project that they envisaged for leading US banks (such as Deutche, Washington Mutual). This project required us to prepare detailed Excel models for real life securitisation transactions, primarily of residential mortgages, from the US market.
12. Advising Infosys Technologies, a leading IT company, to set up the functional requirements for a securitisation module to be added to their software products. This assignment required us to take the company step by step through securitisation procedures and prepare cashflow models for various types of securitisation transactions.
13. Advising GE Capital, a leading finance house, on several of their securitisation transactions. We have been engaged to vet and vouch information memoranda for securitisation transactions, check essential financial data, and advise the company on taxation and accounting requirements.

Consulting assignments on derivatives, structured finance, derivatives valuation, etc:

14. We have a continuing project-related training assignment with Royal Bank of Scotland’s India Development Center. This requires us to study their credit derivatives trading/risk management systems, and build a training package around the same.
15. We have advised on several occasions on valuation of derivatives transactions done by entities.
16. We are currently advising on legality of certain foreign exchange derivatives transactions entered into by a company with a bank – from the viewpoint of whether the transaction was conducted as a hedge.

Consulting assignments in the field of leasing, asset-based financing, secured lending, microfinance, etc.

17. We are known in the country for number one position as consultant in the matter of leasing and asset based funding. We have engaged by every significant name that matters in the field of asset based finance including State Bank of India, Canara Bank, Indian Railway Finance Corporation, ICICI, HDFC, Kotak Mahindra, Development Credit Bank, Tata Finance Ltd., Apple Industries Limited, etc.
18. We have advised Bandhan Konnagar, a microfinance institution, on various queries relating to loans, takeover of loans and assignment of loan portfolios.
19. We have acted as retainer to Citibank for their asset-backed finance business.
20. We have provided active consulting support to GE Capital, the world’s largest non-banking leasing company.
21. We are engaged on consulting in operating leasing for a telecom hardware company, which is the largest in its field in India.
22. We have acted as a consultant to Infosys Technologies to prepare functional requirements for a comprehensive IT solution for leasing transactions.
23. We have advised several companies in the USA, France and other places on one-off basis relating to leasing activities.
24. Vinod Kothari is one of the directors of Association of Leasing and Financial Services Cos., India. This is a body of top leasing companies in the country.

Training services

As trainers on specialized financial subjects, we have almost an immaculate position and reputation.

• We have conducted training courses in ALL the continents of the world.
• We have conducted training courses in most of the world’s leading financial centers. The list includes New York, Washington, London, Milan, Frankfurt, Luxembourg, Dubai, Singapore, Hong Kong, Johannesburg, Cape Town, Mumbai, Delhi, Kolkata, Bangalore, Chennai, Jakarta, Cairo, Amman, Istanbul, Sydney, Kuala Lumpur, Colombo, Colombia, Dhaka, etc.
• We have conducted training courses for diverse groups, from a group of investors in Sydney, to a rating agency in Kuala Lumpur, to a group of lawyers in Mumbai, to a group of quants in New York, to insurance professionals in Milan, to a multilateral investing bank in Luxembourg.
• In most cases, our trainings have been rated “excellent”.
• We conduct a 7 days residential training course in Kolkata, India. We do several runs of this every year – we have completed 10 runs already. This training course attracts participants from all over the world.
• Besides Vinod Kothari, one of coveted trainers on finance, we have other associate trainers, well established in their respective fields. Mr Vaidya Nathan and Prof Praloy Majumdar are our associate trainers.

Know more about our training services

PROFILE: MR. VINOD KOTHARI

QUALIFICATIONS: Chartered Accountant, Company Secretary

ACHIEVEMENTS: Internationally recognised as author, trainer and consultant on specialised financial subjects, viz., securitisation, credit derivatives, accounting for financial instruments, etc. As such, he lectures all over the world. The locations where he has lectured on these subjects include New York, Washington, London, Milan, Frankfurt, Singapore, Hong Kong, Sydney, Colombia (South America), South Africa, Malaysia, Jordan, Dubai, Kuwait,  Egypt, Sri Lanka, Bangla Desh, etc.

And we have handled very diverse groups – from rating agency professionals in Malaysia, to group of investors in Sydney, to tax officers in South Africa, to group of lawyers in India, to executives of the World’s largest securitisation agency in Washington, to a group of quants in New York.

CONSULTING ASSIGNMENTS:

Ø      Claims extensive consulting experience in securitisation – offering comprehensive securitisation-related consulting services to a variety of clients including originators, investors, IT companies, etc. Apart from one-off services to several companies in different countries.

Ø      Has been retained by an Indian rating agency for structured finance ratings.

Ø      Has been retained by Govt. of Jordan for suggesting and working on funding for a high-profile low-cost housing project.

AUTHOR OF BOOKS:

Ø      Credit Derivatives and Structured Credit Trading, 2009 edition

Ø      Introduction to Securitisation by Frank J. Fabozzi and Vinod Kothari, July 2008

Ø      Securitisation, Asset Reconstruction and Enforcement of Security Interests, 2007 Second edition

Ø      Securitisation: The Financial Instrument of the Future, Third edition 2006

Ø      Lease Financing and Hire purchase (4^th edition, 1996), Wiley

Ø      Author of 3 Chapters in Handbook of Finance, (editor Frank Fabozzi), published by Wiley, USA

ARTICLES:

Ø      Vinod Kothari's articles on asset-based finance, securitisation etc. have appeared in several national and international journals including Duke Journal of Comparative International Law (USA), US Banker (USA), Exportrader (Spain), Trade and Forfaiting Review (UK), Journal of International Banking Law and Regulation (UK), Equipment Finance Journal (USA), Monitordaily (USA), Analyst (India), etc.

Ø      Vinod Kothari also contributes to Euromoney's yearbooks on leasing and securitisation.

LECTURING:

Ø      Regular speaker at professional institutes

Ø      Visiting faculty at Indian Institute of Management, Joka, Calcutta for several years, teaching a full fledged course for the final year students on Structured Finance and Taxation. Over 125 students sign up of the course every year.

Ø      Guest faculty at the National University of Juridical Sciences- the subject taught here are insolvency and credit interest enforcement laws in India and other countries. The course included a comparative study of the insolvency and creditors' rights in USA, UK and Australia.

POSITIONS:

Ø      Has been retained by the Asian Development Bank, Manila for two important projects: to advise the Govt. of India on reforming secured lending law in India; and to develop securitisation-related legal framework in the Asian region.

Ø      Is the Director of Association of Leasing and Financial Services Cos., a body of over 500 top leasing companies in India and is editor of its Newsletter Fin-n-lease.

Ø      Is the former Chairman of the Institute of Company Secretaries of India.

Ø      Is the Executive Director of the Asian Securitisation Forum

WEBSITES

Vinod Kothari owns and runs some of the World's most popular websites on specialized financial subjects:

Ø      Securitisation: http://www.vinodkothari.com

Ø      Credit derivatives: http://www.credit-deriv.com

Ø      Leasing and asset-backed financing: http://www.india-financing.com

Ø      Asset reconstruction companies: http://www.india-financing.com/arc

AWARDS

In 1987, a voluntary organisation of Calcutta chose him as the Outstanding Young Person of Calcutta in the field of Finance and Taxation. Vinod Kothari won several academic awards.

Staff at Vinod Kothari & Company

Highly motivated and ambitious research assistants and associates work at our firm. The work environment itself requires them to spend substantial time on reading, writing and speaking.

In addition, to encourage reading, articulate thinking and writing, our research associates write several articles/make presentations in internal training sessions.

For some of our staff presentations, click here

For Recent Issues & Developments, click here

CONTACT US AT

Vinod Kothari

1012 Krishna

224 AJC Bose Road

Kolkata (Calcutta) 700 017

India

Phone/fax 91-33-22811276/ 22817715/ 22813742

Email vinodkothari@vinodkothari.com

 

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