Insolvency & Bankruptcy

Insolvency & Bankruptcy

The Insolvency and Bankruptcy Code, 2016 (IBC) provides the legal framework for insolvency resolution, bankruptcy, restructuring and liquidation of entities and individuals, subject to its applicable provisions.

The firm undertakes matters relating to insolvency and bankruptcy involving financial creditors, operational creditors, corporate debtors, promoters, guarantors, resolution applicants, investors and other stakeholders, including proceedings before the National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT), Debt Recovery Tribunals (DRTs) and other competent forums.

Corporate Insolvency Resolution Process (CIRP)

Matters may include applications and proceedings relating to commencement of the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, claim-related issues, proceedings concerning the Committee of Creditors (CoC), resolution plans and other matters arising during the insolvency resolution process before the NCLT and NCLAT.

Committee of Creditors (CoC) Matters

The firm's practice may include matters concerning constitution and functioning of the Committee of Creditors, voting rights, consideration of resolution plans and other legal and procedural issues arising under the Insolvency and Bankruptcy Code and applicable regulations.

Liquidation, Restructuring and Personal Guarantor Matters

Matters may include liquidation proceedings, voluntary liquidation, corporate restructuring, business reorganisation and proceedings concerning personal guarantors under the applicable provisions of the Insolvency and Bankruptcy Code. Such matters may include preparation of pleadings, applications and other legal documents and representation before competent tribunals.

Banking, Recovery and Distressed Assets

Insolvency matters may involve issues arising under the Recovery of Debts and Bankruptcy Act, 1993, the SARFAESI Act, 2002 and other applicable banking and financial laws. The firm's practice may include matters concerning debt recovery, security enforcement, distressed assets, restructuring and related proceedings where these issues intersect with insolvency proceedings.

Insolvency Dispute Resolution

Depending upon the nature and circumstances of a matter, disputes connected with insolvency and restructuring may involve negotiation, mediation, conciliation, arbitration, litigation or proceedings before the appropriate statutory tribunals and courts, where legally applicable.

Nature and Scope of Work

The nature and scope of work undertaken in any insolvency or bankruptcy matter depends upon the facts and circumstances of the matter, the applicable provisions of law and regulations, and the professional responsibilities applicable to advocates.