Top Corporate Lawyers for IBC Petitions in Bangalore
INSOLVENCY AND BANKRUPTCY CODE, 2016
The IBC is a comprehensive legislation that provides a unified framework for the resolution of insolvency and bankruptcy cases in India. It aims to consolidate and amend the laws related to insolvency resolution of corporate entities, individuals, and partnerships.
Insolvency and Bankruptcy Code (IBC) Legal Services for Businesses and Creditors
Our firm supports businesses, creditors, and stakeholders within the intricate Insolvency and Bankruptcy Code (IBC) framework. Our dedicated legal experts are adept at finding opportunities and managing challenges under the IBC, offering a spectrum of services that drive financial recovery and corporate rejuvenation.
Corporate Insolvency Resolution Process (CIRP) Advisory and Legal Representation
Our firm has extensive expertise in the Corporate Insolvency Resolution Process (CIRP) and representation, offering adept guidance to creditors and corporate debtors.
We advise our clients throughout the insolvency process, starting from the pre-insolvency stage or during the corporate insolvency resolution process (advising the committee of creditors or the resolution professional), to the acquisition of the stressed asset via an insolvency process.
IBC Due Diligence, Restructuring, and Transaction Advisory Services
We conduct comprehensive legal and due diligence, enabling clients to make informed decisions on acquisitions, investments, and restructuring.
We can also assist our clients in designing and implementing effective restructuring and turnaround strategies while also providing transaction advisory services, protection of creditors’ rights, and expert representation in IBC-related litigation.
Assistance with Voluntary Liquidation and Legal Exit Strategy Under IBC
For corporate entities seeking a smooth exit strategy, we provide guidance on voluntary liquidation processes and assist clients in adhering to statutory requirements, managing creditor interests, and efficiently winding down operations legally and cost-effectively.
Legal Support and Representation for Resolution Professionals (RP)
We offer legal representation to Resolution Professionals (RP) to ensure the clients comply with legal proceedings and safeguard the interests of all stakeholders involved. Further, we offer seasoned professionals who can act on behalf of RPs.
Proof of Claims Preparation and Creditor Rights under IBC
We assist creditors in preparing and submitting proof of claims, helping them secure their rightful share of assets in the resolution process.
Strategic IBC Advisory for Compliance, Asset Protection, and Recovery
We are committed to delivering strategic advisory services that empower our clients to confidently navigate the complexities of the IBC landscape, ensuring they seize every opportunity for growth while adhering to evolving legal requirements.
FAQs on Insolvency & Bankruptcy Code (IBC)
What is the process of filing for the Insolvency & Bankruptcy Code?
Initiating the Insolvency and Bankruptcy Code involves applying for a Corporate Insolvency Resolution Process against a debtor. Our experienced team assists clients in filing the necessary applications. It guides them through the process of restructuring or liquidation of insolvent companies.
What is the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016?
CIRP is a legal process initiated by any creditor (Banks/NBFCs or Creditors who have provided goods and services) or a company itself for the resolution of insolvency and distress in a corporate entity.
It involves the appointment of an insolvency professional, formulating a resolution plan, and possibly restructuring the company to ensure its viability.
What is the process for submitting a resolution plan as a Resolution Applicant?
The process of submitting a resolution plan begins with the issuance of an invitation by the resolution professional to potential Resolution Applicants. Interested parties can then submit their resolution plans within the specified timeline. The resolution plan should include details of the Resolution Applicant’s proposed revival strategy, financial arrangement, and treatment of various stakeholders.
The resolution professional evaluates the submitted plans and presents them to the Committee of Creditors (CoC) for consideration.
Can a Resolution Applicant modify or withdraw their resolution plan?
The process of submitting a resolution plan begins with the issuance of an invitation by the resolution professional to potential Resolution Applicants. Interested parties can then submit their resolution plans within the specified timeline. The resolution plan should include details of the Resolution Applicant’s proposed revival strategy, financial arrangement, and treatment of various stakeholders.
The resolution professional evaluates the submitted plans and presents them to the Committee of Creditors (CoC) for consideration.
What happens if a resolution plan is not approved?
The company may opt for liquidation if a resolution plan is not approved. The liquidation process involves the sale of the company’s assets, and the proceeds are distributed to the creditors in a prescribed manner.
What happens if a resolution plan is not approved?
The company may opt for liquidation if a resolution plan is not approved. The liquidation process involves the sale of the company’s assets, and the proceeds are distributed to the creditors in a prescribed manner.