Founder & Partners

Mahender Khandelwal

Founder, Varrenyam Group | Co-Founder & Partner

Mahender Khandelwal is a highly distinguished Chartered Accountant with over three decades of experience across Debt and Equity structuring, Corporate Restructuring, Insolvency, and Special Situations Advisory. Since qualifying in 1991, he has advised lenders, promoters, investors, and institutions through complex financial distress, transformation, recovery scenarios & Resource Mobilisation.

He has led the restructuring and resolution of more than 100 large corporates across a wide range of industries, including Iron & Steel, Stainless Steel, System Packaging, Forging, Pharmaceuticals, Hotels & Hospitality, NBFCs, Power & Infrastructure, Auto Components, Textiles, Education, Construction, and Real Estate. His experience spans the full lifecycle of stressed situations—from early-stage business recovery to formal Debt restructuring under CDR scheme.

A key milestone in his advisory career was initiating and leading the Business Recovery Services (BRS) practice at both BDO and PwC as Partner & Resolution Professional. Under his leadership, these practices successfully resolved over 20 large and complex accounts, with transaction sizes ranging from approximately ₹500 crore to ₹50,000 crore.

During his tenure with PwC and BDO, Mr. Khandelwal was directly involved in several high-profile insolvency and restructuring assignments, including the landmark Bhushan Power & Steel Limited case, widely regarded as the largest and most significant insolvency resolution under the Insolvency and Bankruptcy Code (IBC) in India. This experience further strengthened his expertise in managing multi-stakeholder negotiations, regulatory oversight, and value-maximizing outcomes in high-profile cases.

In addition, Mr. Khandelwal has led several NCLT-led acquisition, resolution, and funding mandates, advising investors, resolution applicants, and lenders on stressed asset acquisitions, resolution plan structuring, lender negotiations, and funding arrangements.

He is also the Founder and Promoter of the Varrenyam Group, established in 2002, which he has built into a professionally managed platform focused on restructuring, insolvency advisory, and allied financial services, anchored in strong governance and institutional processes.

Mr. Khandelwal brings extensive experience in dealing with regulatory and enforcement authorities, enabling him to manage sensitive matters with clarity, compliance, and strategic foresight. As a Partner, he contributes unmatched institutional memory, judgment, and leadership, offering clients seasoned guidance

Prateek Khandelwal

Co-Founder & Partner

Prateek Khandelwal is a Chartered Accountant with over 18 years of experience spanning large corporates and strategic financial advisory, with a strong specialization in structured funding and capital raising mandates. His corporate career includes senior finance leadership roles with Vedanta Group, PepsiCo, Asian Paints, Mondelez International (Cadbury), and OLA Electric, where he served as Director – Supply Chain Finance, leading large-scale Capex funding, financial planning, and operational finance transformation initiatives.

Prateek has led multiple debt and equity funding transactions across a diverse client base ranging from large corporates and real estate-backed platforms to NBFCs and growth-stage startups. His work includes structuring funding solutions with banks, NBFCs, AIFs, and private credit funds, preparing investor-ready financial models and information memoranda, and managing end-to-end lender and investor engagements through closure.

Prateek has also been actively involved in NCLT and IBC-led acquisition and special situation opportunities, advising resolution applicants and investors on stressed asset evaluations, resolution plan structuring, valuation, and negotiations with lenders and Resolution Professionals. His ability to bridge corporate-grade financial discipline with transaction-oriented execution enables clients to navigate complex funding and acquisition scenarios with clarity and confidence.

Prateek is known for his hands-on execution, strong analytical rigor, and outcome-focused advisory style, making him a trusted partner for businesses and investors seeking capital, growth, or opportunistic acquisitions in challenging environments.