Insolvency & Bankruptcy (IBC) Matters
Insolvency and bankruptcy proceedings in India are governed by the Insolvency and Bankruptcy Code, 2016 (IBC), which provides a structured framework for resolving financial distress faced by companies. The objective of the IBC is to ensure timely resolution of insolvency, maximize the value of assets, and balance the interests of creditors, stakeholders, and the corporate debtor.
Under the IBC framework, the National Company Law Tribunal (NCLT) acts as the adjudicating authority for corporate insolvency matters. Companies, financial creditors, or operational creditors may initiate insolvency proceedings when a corporate debtor fails to meet its financial obligations. The process involves resolution proceedings, appointment of insolvency professionals, and in certain cases, liquidation of the company.
Our firm provides advisory and professional support to businesses, creditors, and stakeholders in matters related to insolvency proceedings. We assist in preparing applications, documentation, and ensuring compliance with the procedural requirements under the IBC.
Our Services Include
• Advisory on insolvency and bankruptcy matters
• Filing applications under the Insolvency and Bankruptcy Code
• Assistance in initiating Corporate Insolvency Resolution Process (CIRP)
• Support for financial creditors and operational creditors
• Preparation and submission of claims during insolvency proceedings
• Representation and assistance in NCLT proceedings
• Advisory during resolution process and restructuring
• Assistance in liquidation proceedings
• Compliance with IBC regulations and procedural requirements
• Documentation and coordination with insolvency professionals
F.A.Q.
The Insolvency and Bankruptcy Code, 2016 is a law that provides a unified framework for resolving insolvency and bankruptcy matters of companies, partnership firms, and individuals in a time-bound manner.
CIRP is a formal process under the IBC where creditors initiate insolvency proceedings against a defaulting company to resolve its financial distress and recover dues.
Insolvency applications can be filed by financial creditors, operational creditors, or the corporate debtor itself when a default in payment occurs.
The National Company Law Tribunal acts as the adjudicating authority that admits insolvency applications, supervises the resolution process, and passes orders related to insolvency and liquidation.
If a resolution plan is not approved within the prescribed timeline, the company may proceed into liquidation as per the provisions of the IBC.
IBC proceedings involve strict timelines, legal documentation, and regulatory compliance. Professional guidance helps ensure proper filing of applications, effective representation, and smooth handling of the insolvency process.
