Cases under the Insolvency and Bankruptcy Code, 2016

Services offered for cases under the Insolvency and Bankruptcy Code, 2016 (IBC) typically include:

1. Advisory and Strategy Development: Providing strategic advice on initiating or responding to insolvency proceedings under the IBC, including assessment of legal options and implications.

2. Insolvency Resolution Process (IRP) Management: Managing the entire IRP lifecycle, from filing the application to the resolution plan approval, ensuring compliance with timelines and regulatory requirements.

3. Financial and Operational Due Diligence: Conducting thorough due diligence to assess the financial health, operational capabilities, and viability of distressed companies involved in insolvency proceedings.

4. Negotiation and Mediation: Facilitating negotiations between stakeholders, including creditors, debtors, and potential investors, to achieve consensus and maximize recovery for stakeholders.

5. Legal Representation: Providing legal representation before the National Company Law Tribunal (NCLT) and appellate authorities for matters related to insolvency proceedings, including filing petitions, attending hearings, and defending interests.

6. Creditors' Committee Support: Assisting creditors in forming and managing creditors' committees, coordinating meetings, and representing their interests throughout the insolvency resolution process.

7. Resolution Plan Preparation: Developing comprehensive resolution plans in accordance with the IBC guidelines, outlining restructuring proposals, financial arrangements, and operational strategies to revive distressed companies.

8. Liquidation Assistance: Advising on and facilitating the liquidation process in cases where resolution is not feasible, ensuring compliance with liquidation procedures and maximizing recovery for creditors.

9. Cross-border Insolvency: Handling cases involving cross-border elements, coordinating with international stakeholders, and navigating complexities arising from multiple jurisdictions.

10. Post-resolution Support: Providing ongoing support post-resolution, including implementation of approved resolution plans, monitoring performance, and ensuring compliance with regulatory obligations.

• Advisory Services: Providing strategic advice and guidance on initiating or responding to insolvency proceedings, including feasibility assessments and legal implications.
• Resolution Process Management: Managing the entire insolvency resolution process, from filing applications to overseeing creditor meetings and formulating resolution plans.
• Legal Representation: Representing clients before the National Company Law Tribunal (NCLT) and appellate authorities, handling petitions, attending hearings, and defending interests.
• Financial and Operational Due Diligence: Conducting comprehensive due diligence to assess financial health, operational capabilities, and viability of distressed companies.
• Negotiation and Mediation: Facilitating negotiations between stakeholders, including creditors, debtors, and investors, to reach agreements and maximize recovery.
• Resolution Plan Preparation: Developing and presenting resolution plans compliant with IBC guidelines, outlining restructuring proposals and financial arrangements.
• Liquidation Assistance: Advising on and managing the liquidation process when resolution is not feasible, ensuring compliance with liquidation procedures and maximizing creditor recovery.

Documents required for cases under the Insolvency and Bankruptcy Code, 2016 (IBC) can vary depending on the role of the entity (creditor, debtor, resolution professional, etc.) and the specific circumstances of the case. However, some common documents typically needed include:

1. For Corporate Debtors (Companies):

   • Certificate of Incorporation and Memorandum & Articles of Association.
   • Board resolutions authorizing the insolvency proceedings.
   • Financial statements, including balance sheets, profit and loss accounts, and cash flow statements.
   • Details of assets and liabilities of the company.
   • List of creditors with details of claims and amounts owed.
   • Details of ongoing contracts and agreements.
   • Minutes of meetings of the board of directors and shareholders.

2. For Financial Creditors:

   • Loan agreements, facility agreements, or any other documents evidencing the debt.
   • Security documents (if any) such as mortgage deeds, pledges, or guarantees.
   • Proof of default and demand notices issued to the corporate debtor.

3. For Operational Creditors:

   • Invoices, bills of supply, or contracts establishing the operational debt.
   • Proof of delivery of goods or services.
   • Proof of default and demand notices issued to the corporate debtor.

4. For Resolution Professionals:

   • Appointment order as the resolution professional.
   • Details of fees and expenses incurred in the resolution process.
   • Reports and filings made to the National Company Law Tribunal (NCLT) during the resolution process.

5. For Committee of Creditors (CoC):

   • Minutes of CoC meetings and resolutions passed.
   • Voting details and decisions taken by the CoC.

6. For Liquidators:

   • Order appointing the liquidator.
   • Reports and filings made to the NCLT during the liquidation process.
   • Details of realization and distribution of assets.

7. For Other Stakeholders:

   • Any other documents relevant to the specific role and involvement in the insolvency proceedings, such as legal opinions, expert reports, or agreements.