Lawyers play a vital role in navigating the complexities of Insolvency and Bankruptcy proceedings.
They represent creditors, debtors, financial institutions, and insolvency professionals before the National Company Law Tribunal (NCLT) and other authorities. Lawyers assist in filing insolvency petitions, preparing resolution plans, and ensuring compliance with the Insolvency and Bankruptcy Code (IBC), 2016. They guide stakeholders through restructuring, liquidation, or revival processes and help protect the legal and financial interests of clients during distressed financial situations. Their expertise is crucial for achieving timely resolution and maximizing asset recovery.
Corporate Insolvency Resolution Process (CIRP) under IBC
Representation before NCLT, NCLAT, and other appellate authorities
Advising Operational & Financial Creditors on filing claims
Legal support for Insolvency Professionals (IPs) and Resolution Applicants
Drafting and reviewing Resolution Plans
Assisting in Voluntary Liquidation and Winding-up proceedings
Individual insolvency proceedings for personal guarantors
Out-of-court settlements and restructuring advice
Enforcement of security and debt recovery under SARFAESI & RDDBFI Acts