Early Warning India - Introductory Video

Early Warning India is a project of Turnaround Foundation, a society registered under the Haryana Registration and Regulation of Societies Act 2012. 

TURNAROUND FOUNDATION in collaboration with EARLY WARNING EUROPE, a network organization under the EU COSME Program, has taken the initiative to launch EARLY WARNING INDIA; Early Warning India is based on the method, approach, and experience of Early Warning Europe. This is a Project for advising, helping, and aiding Businesses/Companies/Individuals facing financial or operational and/or Covid distress. 

Early Warning Europe is a project backed by Government of various European Union States. It’s a network of organization that has successfully implemented early warning system in countries like Denmark, Holland, Poland, Spain, Italy, Greece, Croatia, Finland Hungary, Lithuania, Luxemburg and Slovenia. 

In line with Early Warning Systems Global Practices, Early Warning India’s objective is to provide free, impartial, and confidential counseling to companies, businesses and individuals in distress for turning them around from their current distressed state.

The invocation of Insolvency and Bankruptcy Code 2016 by the Creditors has resulted in over 75% of the corporate debtors to enter in Liquidation and the business fails to survive as a going concern. This has resulted in loss of business of Vendors of the liquidated companies, job losses for the employees of such corporate debtors, loss of taxes for the exchequer etc. and this in turn harms the economy as whole.

Early Warning India is going to help Indian businesses in three ways:

1. To turn around viable companies before they start defaulting on their debt and before they are designated as NPA’s by the Financial Creditors.

2. To turn around businesses that have been designated as NPA’s by streamlining their finances, operations, HR Management by finding lapses in their different business processes and correcting the anomalies.

3. To help companies and businesses to go through the process of Insolvency and Bankruptcy with the help of advice from our experts in law and finance so as to make the process seamless and less difficult for the corporate debtors and their promoters.

To mitigate the aforesaid risks, Early warning India’s purpose shall be:

1. To help viable companies survive a severe slump and renew growth.

2. To reduce economic losses for society, creditors and entrepreneurs by helping non-viable companies to close down quickly.

3. To promote an entrepreneurial culture and help recognize failure as a natural part of entrepreneurial endeavors.

4. To give bankrupt entrepreneurs a  Fresh Start or second Chance  by helping them to avoid unmanageable debt and loss of self-esteem so that they may start a new company within a foreseeable future.

5. The Early Warning India project presently comprises 4 specially trained consultants collaborating with 3 insolvency lawyers and a group of approximately 4 voluntary advisers consisting of current and former directors of MSME corporations, owners of smaller companies, board members and chairpersons as well as a few professionals (accountants, lawyers, financial advisers, psychologist, coaches etc.). The number of such Professionals, volunteers and consultants are expected to increase in the coming months.