INSOLVENCY LAW

OVERVIEW

We engage in advising and assisting financial creditors, corporate debtors, operational creditors and insolvency professionals under the Insolvency and Bankruptcy Code, 2016 (IBC).

ROLE

  • From the point of view of a corporate debtor, our expertise lies in devising strategy under the IBC, Companies Act, 2013, guidelines issued by the Reserve Bank of India and other applicable laws to restructure the business.

  • We are also at the forefront in aiding and assisting operational creditors and financial creditors in drafting applications for initiating insolvency proceedings against corporate debtors and providing negotiation support to settle or claim unpaid dues

  • Our practice also includes representing financial creditors, corporate debtors or operational creditors in National Company Law Tribunal and the appellate tribunal /courts on various matters relating to the IBC

FREQUENTLY asked questions

Corporate Insolvency: The Insolvency and Bankruptcy Code, 2016 (Code) was enacted to revamp the insolvency and bankruptcy laws and resolve problems being faced by creditors due to non-repayment of outstanding dues by corporate borrowers.
 
This primer deals with the fundamental principles of corporate insolvency, its related procedure and relevant law in India.

The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) were formulated to carry out the provisions of the Insolvency and Bankruptcy Code, 2016 (Code). These regulations are applicable to the corporate insolvency resolution process (CIRP). Here we present an overview of the CIRP Regulations and related procedures.

Insolvency Resolution of Personal Guarantors of Corporate Debtors: Under the Indian insolvency law, creditors may initiate insolvency resolution proceedings against personal guarantors of a corporate debtor on failure to repay under a guarantee contract. In this primer we have covered the fundamental principles of the insolvency process of a personal guarantor, its related procedure and relevant law in India.