Insolvency and Bankruptcy

“Navigating insolvency, structured solutions for future of businesses”

Insolvency and Bankruptcy practice area will continue to be of critical importance as businesses, especially those facing financial challenges, increasingly turn to legal frameworks to resolve debt issues and streamline operations. The ongoing evolution of the Insolvency and Bankruptcy Code (IBC) in India has brought significant reforms, creating a more efficient, transparent, and time-bound process for corporate debt resolution. With the rapid pace of economic transformation, the rise of digital businesses, and disruptions in traditional industries, the IBC will see further refinements to address the complexities of cross-border insolvency, distressed asset management, and debt recovery. In the coming years, we anticipate more robust legal mechanisms for financial restructuring, along with clearer guidelines to handle insolvencies in the banking and non-banking sectors.

Our law practice is set to guide clients through these changing regulations, helping companies, creditors, and investors manage insolvency and bankruptcy proceedings, maximize recoveries, and explore restructuring options. As India’s economy grows and diversifies, our expertise in this evolving area will provide crucial support in navigating the challenges and opportunities of the insolvency landscape.

Service lines
Corporate Governance in Insolvency
  • Governance and Fiduciary Duties in Insolvency: Advising directors, officers, and stakeholders on their fiduciary duties and corporate governance responsibilities during insolvency proceedings, including how to balance creditors’ interests with their legal obligations.
  • Avoiding Director Liabilities: Offering legal guidance to company directors on avoiding personal liability for corporate debts and financial mismanagement during insolvency and bankruptcy proceedings.
Insolvency of State-Owned Enterprises
  • Resolution of Government-Owned Entities: Assisting with the insolvency proceedings of public sector enterprises, including complex issues relating to government-owned assets, employee benefits, and public interest considerations.
  • Public Sector Debt Restructuring: Advising on debt restructuring options for public sector companies facing insolvency, including handling interactions with governmental and regulatory authorities.
Corporate Insolvency and Restructuring
  • Corporate Insolvency Resolution Process (CIRP): Representing companies and creditors in initiating, managing, and navigating the insolvency resolution process under the Insolvency and Bankruptcy Code (IBC), 2016, including the submission of claims and identification of resolution professionals.
  • Insolvency Restructuring and Debt Restructuring: Providing advisory services for businesses facing financial distress, including negotiations with creditors, debt restructuring, and corporate reorganizations to avoid insolvency or bankruptcy.
  • Voluntary Liquidation: Assisting businesses in voluntarily winding up operations and managing the voluntary liquidation process under the IBC, ensuring compliance with statutory requirements.
  • Resolution Plan Development and Approval: Helping distressed companies develop and present resolution plans, guiding them through the approval process by the Committee of Creditors (CoC) and the National Company Law Tribunal (NCLT).
Personal Insolvency and Bankruptcy
  • Individual Insolvency and Debt Recovery: Assisting individuals in initiating insolvency proceedings under the IBC, including protecting assets, managing creditors, and structuring repayment plans.
  • Personal Bankruptcy Process: Representing individuals facing insolvency to navigate the personal bankruptcy process, including seeking discharge from liabilities and obtaining a fresh financial start.
Insolvency of Financial and Non-Financial Corporations
  • Insolvency of Financial Institutions: Offering legal support for the insolvency and resolution of financial institutions, including banks, NBFCs (Non-Banking Financial Companies), and insurance companies.
  • Resolution of Non-Financial Corporations: Assisting in the insolvency processes for non-financial businesses, including manufacturing companies, service providers, and startups, focusing on managing creditor claims and corporate restructuring.
Cross-Border Insolvency and International Debt Recovery
  • Cross-Border Insolvency Proceedings: Providing legal assistance in international insolvency matters, managing cases that involve foreign creditors or assets, and navigating the complexities of foreign jurisdictions and laws.
  • Debt Recovery from International Creditors: Representing clients in recovering debt from international creditors, negotiating settlements, and enforcing claims across borders in compliance with applicable laws and international treaties.
Insolvency Litigation and Dispute Resolution
  • Representation Before NCLT and NCLAT: Representing clients in the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) for disputes related to insolvency resolution, liquidation, creditor claims, and corporate restructuring.
  • Debt Recovery Litigation: Handling legal actions for debt recovery, including filing petitions in NCLT, enforcement of decrees, and seeking remedies for unpaid loans or outstanding liabilities.
  • Fraudulent Transactions and Avoidance of Transactions: Advising clients on the identification, investigation, and recovery of fraudulent or preferential transactions that may be challenged in insolvency proceedings.
  • Appeals and Judicial Review: Representing clients in challenging or defending orders passed by NCLT and NCLAT, including appeals against rejection of claims, rejection of resolution plans, or insolvency petitions.
Liquidation and Asset Sales
  • Voluntary and Involuntary Liquidation: Assisting in both voluntary and involuntary liquidation processes under the IBC, including compliance with all liquidation procedures, sale of assets, and distribution of proceeds to creditors.
  • Liquidation of Distressed Assets: Representing clients in the sale of assets of a distressed company, including advising on asset valuations, managing liquidation procedures, and distributing funds in accordance with the priority of claims.
  • Regulatory Compliance in Liquidation: Ensuring compliance with regulatory requirements throughout the liquidation process, including the role of the liquidator, creditor approval, and final settlement.
Insolvency Advisory for Creditors
  • Creditors’ Rights and Protections: Advising financial institutions, trade creditors, and unsecured creditors on their rights under the IBC, protecting their interests during corporate insolvency resolution, and ensuring they are adequately represented in creditor committees.
  • Debt Recovery and Restructuring for Creditors: Representing creditors in insolvency proceedings to recover outstanding debts and ensuring their claims are accurately represented and prioritized in the insolvency resolution process.
  • Due Diligence for Creditors: Conducting comprehensive due diligence for creditors before entering into debt agreements or participating in insolvency proceedings to assess the viability and risk of debt recovery.
Insolvency and Bankruptcy for Startups and SMEs
  • Startup Insolvency and Restructuring: Assisting startups and small businesses in managing financial distress, navigating the IBC process, and restructuring their operations to avoid liquidation.
  • SME Debt Restructuring and Financial Recovery: Providing legal services for small and medium-sized enterprises (SMEs) to restructure their debt and resolve financial crises, including accessing government schemes and financial support mechanisms for MSMEs.
Insolvency Resolution for Real Estate and Construction Sector
  • Resolution of Real Estate Companies: Representing real estate and construction companies in insolvency proceedings, managing disputes with contractors, vendors, and clients, and resolving issues related to stalled projects.
  • Distressed Asset Sales in Real Estate: Facilitating the sale of distressed real estate assets during insolvency proceedings, including negotiating with creditors, managing auction processes, and compliance with real estate regulations.
  • Impact of Insolvency on Project Financing: Advising on how insolvency impacts project financing arrangements in the real estate sector and guiding developers, lenders, and contractors through the resolution process.
Regulatory Compliance and Advisory
  • Compliance with IBC and Related Laws: Advising clients on compliance with the Insolvency and Bankruptcy Code, 2016, and other related laws, including taxation, corporate governance, and financial reporting during insolvency proceedings.
  • Advising on Insolvency Frameworks and Law Amendments: Providing guidance on the latest amendments to insolvency laws, including changes to the IBC, the role of the Insolvency and Bankruptcy Board of India (IBBI), and other relevant legal developments.
Corporate Governance in Insolvency
  • Governance and Fiduciary Duties in Insolvency: Advising directors, officers, and stakeholders on their fiduciary duties and corporate governance responsibilities during insolvency proceedings, including how to balance creditors’ interests with their legal obligations.
  • Avoiding Director Liabilities: Offering legal guidance to company directors on avoiding personal liability for corporate debts and financial mismanagement during insolvency and bankruptcy proceedings.
Insolvency of State-Owned Enterprises
  • Resolution of Government-Owned Entities: Assisting with the insolvency proceedings of public sector enterprises, including complex issues relating to government-owned assets, employee benefits, and public interest considerations.
  • Public Sector Debt Restructuring: Advising on debt restructuring options for public sector companies facing insolvency, including handling interactions with governmental and regulatory authorities.
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