OUR SERVICE FOR LENDERS & CREDITORS
Case Appraisal, Guidance & Filings
- Evaluate if the case is fit for application to NCLT/ DRT, to initiate any IBC Process1
- Provide guidance when –
- Response to Demand Notice sent to CD under section 8 is received by the Applicant (i.e. the operational creditor)
- Appeal is to be preferred against an order approving a resolution plan or against a liquidation order
- Prepare and file application under Section 7, Section 9 or Section 95 with NCLT/ DRT
- Prepare and file appeal against an order approving a resolution plan or against a liquidation order
Note:
IBC Process –
- Corporate insolvency resolution
- Individual/ firm insolvency resolution
- Fast track resolution
- Corporate liquidation;
CD ~ Corporate Debtor;
Corporate Insolvency Resolution
- Undertake preliminary understanding of the defaulting corporate debtor and the specific default from the applicant, debtor’s website, public filings with regulatory authorities, etc.
- Provide consent to act as the Interim Resolution Professional (Form 2)
- Provide the optional certification, if required by the applicant
- Act, when appointed by the Adjudicating Authority, as an Interim Resolution Professional (IRP), in terms of the requirements of the Insolvency laws
- Act, when appointed by the Committee of Creditors (CoC), as a Resolution Professional (RP), in terms of the requirements of the Insolvency laws
- Act, as a representative of a Financial Creditor (FC), when appointed by the FC, as a member of the Committee of Creditors (CoC)
- Actively participate in all meetings of the CoC
- Fairly and squarely evaluate the functioning of the IRP/ RP appointed in the CD
- Demand information to get proper understanding of issues affecting the CD
- Assist in framing the evaluation matrix for assessing resolution plans
- Evaluate every resolution plan put before the CoC
- Provide complete and candid views and suggestions to the FC
- On behalf of the FC, and subject to the terms of engagement, take reasoned decisions as member of the CoC, in the best interest of all stakeholders, including the FC
Corporate Liquidation
Individual/ Firm Insolvency Resolution
Provisions relating to Individual/ Firm Resolution under the IBC, 2016 are yet to be notified by the Government.
Individual/ Firm Bankruptcy
Provisions relating to Individual/ Firm Resolution under the IBC, 2016 are yet to be notified by the Government.