Insolvency and Bankruptcy Law
Lending money is a risky affair in the Country, although we have several debt recovery laws, the effectiveness of the same was minimalist. The creditors who lend finance often have to face severe hardships and courtroom dramas to recover its money back. On the other hand the debtors/ promoters of the companies who have availed such loans continue to run their businesses and default to various other parties and stakeholders for several years.
The Government of India proposed the Code with an objective of consolidating and amending the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons. With an idea to give power to the Creditors and remove the defaulters/management but save the business the Code was developed.
The Firm has a strong acumen and base in dealing with matters relating to insolvency and bankruptcy. The Firm’s eminent corporate practice and deep commercial understanding gives the Firm a cutting edge in dealing in matters relating to Insolvency and Bankruptcy Code. The Firm is involved in all stages of the Insolvency and Bankruptcy proceedings.
The services offered by the Firm are:
Filing an application with Adjudicating Authority (NCLT) for financial creditors (banks, NBFCs, money lenders etc.) or operational creditors (vendors, suppliers, employees etc.);
Representation services before various benches of NCLT Mumbai, New Delhi, Ahmedabad, Jaipur, Hyderabad, Chandigarh, Kolkatta and Chennai, and also before the Appellate authorities i.e. NCLAT and Supreme Court of India;
Advising on restructuring the business and haircuts;
Advising clients on acquisition of business under corporate insolvency resolution process including legal due diligence;
Advising insolvency professionals at various stages of the Code and representing the professionals before NCLT, NCLAT and Supreme Court.