IBC & NCLT Advisory

Insolvency and Bankruptcy Code (IBC) was enacted by Parliament in order to consolidate and amend the laws relating to Insolvency and Bankruptcy of Corporates, Partnership Firms and Individuals. At The Startup Trends, we provide Consulting & Legal advisory service in respect to Insolvency & Bankruptcy Code (IBC).

Salient features are as under:

  • IBC was introduced in the year 2016 with the aim to identify the default and maximum the assets
  • Any creditor, where default is more than Rs. 1 Crs( increased from Rs. 1 Lac to 1 Crsw.e.f. 24th March 2020), can file a petition before Hon’ble NCLT against the corporate Debtor.
  • In case of Homebuyers, the petition under IBC can only be filed if the homebuyers are more than 10% of the total allottees in the project or 100 in nos. whichever is less.
  • IBC Laws override other laws (section 238 of IBC)
  • NCLT (National Company Law Tribunal) is the adjudicating Authority under IBC Laws?
  • IBC Laws provide for a time-bound resolution process by which the defaulting corporate debtor is turnaround and resolution process is implemented.

Services Offered:

Insolvency & Bankruptcy Law:

  • Issuance of Demand Notice under IBC, 2016.
  • Drafting and filing of Petitions and interim applications seeking relief against Corporate Debtors, Corporate/Personal Guarantors etc.
  • Representation before National Company Law Tribunal and Appellate Forums.
  • Legal assistance in stages of initiation of insolvency proceedings, retainership during insolvency resolution process and liquidation proceedings.
  • Advisory on Debt Restructuring and Resolution strategies.
  • Representingclientsin Committee of Creditors (CoC) and multi-party negotiations.
  • Advising on resolution strategies
  • Drafting/review of Resolution Plans
  • Section 29 A Due Diligence
  • Liquidation Advisory
  • Sale as a going concern advisory during liquidation
  • Advising on pre-packed insolvency

Advantages of The Startup Trends IBC Services

Client-Centric Approach- Our focal point is our client. We strive to closely assess each business to provide customized solutions for far-reaching impacts.

Holistic Advice- Our complimentary service lines include a full range of legal and financial solutions to deal with all aspects of every business.

Extensive Experience- Our partners have extensive experience in handling large groups and matters related to business restructuring.

 
     
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