Providing Flexible Credit Solutions to Address Unique Borrower Situations

Nikhil Shah is a Managing Director with Alvarez & Marsal and leads the turnaround & restructuring practice in India. He has played an integral role in several high profile turnarounds, performance improvement, distressed M&A and financial restructuring projects and brings more than 15 years serving public and privately owned companies.

He has led several complex engagements across a range of industries including steel, power, infrastructure, transportation, telecom, financial services, consumer electronics, chemicals, technology and textiles across North America and Asia. He has also authored several white papers on the stressed asset market including Outlook for Stressed Asset Market in India and Asset Reconstruction Companies: Small Steps on a Long Road Ahead. Mr. Shah has also advised the Bankruptcy Law Reform Committee and Joint Parliamentary Committee on drafting of the Indian Insolvency & Bankruptcy Act of 2016. He is currently serving the Ministry of Corporate Affairs on implementation of the new insolvency & bankruptcy code.

At A&M, Mr. Shah has led a number of notable restructuring and interim management assignments: advised Jet Airways, one of India's leading airlines on a comprehensive turnaround; served as interim CRO at Bharati Shipyard, a leader in the ship building industry in India; served as interim CEO of one of India's largest owned fleet transportation companies to improve performance of their repair and maintenance facilities; advised one of the largest mobile handset providers in India on a finance function reorganization through improvements in cash flow management, working capital, reporting and internal controls; acted as the interim CFO for OCM India, a leading fabric manufacturer in India owned by large global private equity fund; and served as interim country manager for Lehman Brothers in India and Mauritius, managing over 15 Lehman entities with investments in India totaling $1.3 billion.

Prior to A&M, Mr. Shah was a founding director of Elbee Express, an express delivery company based in Mumbai with more than 130 branches and 1,500 employees across India. He began his professional career in investment banking with Jefferies & Co. in New York, completing distressed M&A and financial restructuring transactions totaling over $5 billion.

Mr. Shah earned a bachelor's degree from the Wharton School, University of Pennsylvania and is a graduate of Phillips Exeter Academy. A U.S. and U.K. national, he is fluent in English and Hindi.

Arpito Mukerji is a Managing Director with Alvarez & Marsal Financial Advisory and Special Situations in India. 

With over 30 years of experience across private credit and real estate, Mr. Mukerji brings deep expertise in value-driven and distressed investing. He has an established track record of leading, managing, and successfully exiting investments totaling over $1 billion.

Prior to joining A&M, Mr. Mukerji served as a Managing Director with Apollo Global Management—notably, he was one of the founding members of Apollo’s investment team within the Asia Real Estate Group. In this role, he primarily focused on real estate investments across asset classes and geographies in India. In addition, he worked extensively on originating, structuring, asset managing, and monetizing marquee deals.

Before Apollo, Mr. Mukerji was a founding member of and Partner with Rezone Investment Advisors, an India-focused real estate advisory boutique. Previously, he also held leadership roles with Merrill, UBS, Dell, GE Capital, and ABN AMRO Bank, covering private credit and traditional banking with a focus on Indian corporates across international and Indian markets.

Mr. Mukerji earned a master’s degree in commerce from Himachal Pradesh University and an MBA from the University of Colorado.