Insolvency Law Practice by Lawyers in India | Lex Maven Law Firm
Insolvency law in India plays a critical role in restructuring distressed businesses and ensuring fair treatment for creditors. The Insolvency and Bankruptcy Code (IBC), 2016 has transformed the legal landscape for insolvency proceedings, providing a more structured and efficient process for resolving financial distress. At Lex Maven Law Firm, our expert team of insolvency lawyers in India provides comprehensive legal services to both corporate and individual clients facing insolvency issues. We represent creditors, debtors, and insolvency professionals in a wide range of cases, ensuring that the rights of all parties are protected throughout the process.
Our Insolvency Law Services
1. Corporate Insolvency Resolution Process (CIRP)
• Initiating CIRP: We help corporate debtors and creditors navigate the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016.
• Debt Restructuring: Our lawyers provide advice and represent clients in debt restructuring to facilitate business recovery, including debt-for-equity swaps, moratoriums, and reorganization plans.
• Resolution Plans: We guide companies and creditors through the preparation and submission of resolution plans aimed at revival and repayment of debts.
2. Liquidation Proceedings
• Filing for Liquidation: If resolution efforts fail, we assist in filing for liquidation proceedings under the IBC, where the assets of the distressed company are sold to pay off creditors.
• Asset Valuation and Distribution: We represent creditors and stakeholders in the asset valuation process and ensure equitable distribution in accordance with the priority of claims under IBC.
• Liquidator Appointment: Our team works with liquidators to ensure compliance with the liquidation process and protect the interests of all involved parties.
3. Insolvency for Individuals and Partnership Firms
• Personal Insolvency: Our lawyers assist individuals and partnership firms in filing for personal insolvency under the IBC. We provide solutions to address overwhelming debt and financial distress, ensuring proper resolution and discharge of liabilities.
• Debt Relief and Settlement: We offer debt settlement solutions for individuals, negotiating with creditors to reduce outstanding liabilities and set up repayment plans.
• Bankruptcy Proceedings: In cases of personal bankruptcy, we help clients with bankruptcy filings, protection from creditor actions, and managing the liquidation of assets.
4. Insolvency and Bankruptcy Code Advisory
• Legal Guidance for Debtors and Creditors: We provide legal advice to both debtors and creditors on the rights and obligations under the Insolvency and Bankruptcy Code (IBC), 2016, including insolvency proceedings, claims, and recovery strategies.
• IBC Compliances: We assist clients in ensuring compliance with IBC regulations and represent them in the Insolvency and Bankruptcy Board of India (IBBI) forums.
• Corporate Governance and Insolvency: We advise businesses on corporate governance practices and how they impact insolvency proceedings, ensuring sound decision-making and legal compliance.
5. Cross-Border Insolvency and International Cases
• International Insolvency Cases: Our insolvency law team handles cross-border insolvency matters, representing clients involved in international insolvency disputes and ensuring compliance with the UNCITRAL Model Law on cross-border insolvency.
• Jurisdictional Issues: We provide legal support on jurisdictional issues related to the enforcement of foreign insolvency proceedings and recognition of foreign insolvency judgments in India.
• Global Debt Recovery: Our team works with international clients to recover debts across borders, addressing the complexities of insolvency law in multiple jurisdictions.
6. Corporate Debt Restructuring (CDR)
• Negotiation with Creditors: We assist companies in negotiating with creditors for corporate debt restructuring (CDR) to avoid insolvency, reduce debt burdens, and continue operations.
• Debt-to-Equity Conversion: We help businesses explore debt-to-equity conversion options and ensure the restructuring plan is legally sound and aligned with IBC provisions.
• Repayment Plans and Moratoriums: We support companies in negotiating repayment terms and seeking moratoriums to manage temporary financial distress.
7. Insolvency Resolution for Financial Institutions
• Representing Financial Creditors: We represent financial creditors, such as banks, NBFCs, and investors, in insolvency proceedings to recover outstanding debts.
• Debt Recovery: Our insolvency lawyers assist financial institutions in debt recovery through IBC proceedings, ensuring that creditors’ rights are upheld and their claims are prioritized.
• Reorganization Plans for Lenders: We help financial institutions participate in the formulation of reorganization plans for distressed companies.
8. Litigation and Appeals in Insolvency Matters
• IBC Litigation: We represent clients in litigation related to insolvency, including disputes over the admission of claims, suspension of insolvency proceedings, and other legal issues arising during the resolution process.
• Appeals and Revisions: If any party is dissatisfied with an insolvency proceeding, we handle appeals to higher forums, including the National Company Law Appellate Tribunal (NCLAT) and the Supreme Court of India.
• Legal Challenges in CIRP: We provide legal representation for parties challenging or defending against the initiation and continuation of the Corporate Insolvency Resolution Process (CIRP).
Industries We Serve Through Insolvency Law Services
• Corporate and Private Enterprises: We assist businesses facing financial distress in navigating insolvency proceedings and corporate restructuring to recover from insolvency challenges.
• Financial Institutions: We represent banks, NBFCs, and other financial creditors in insolvency resolution and debt recovery.
• E-Commerce and Retail: We provide insolvency services to e-commerce companies and retail businesses dealing with financial insolvency and liquidation.
• Manufacturing and Industrial Sectors: Our lawyers handle insolvency proceedings for manufacturers and industrial firms, ensuring asset protection and resolution of financial issues.
• Services Industry: We provide insolvency legal support to service providers, including IT companies, healthcare services, and telecommunications firms.
FAQs on Insolvency Law in India
1. What is the Insolvency and Bankruptcy Code (IBC), 2016?
The IBC is a comprehensive law that provides a framework for resolving insolvency and bankruptcy of both individuals and corporate entities in India, ensuring a time-bound resolution process.
2. How does Corporate Insolvency Resolution Process (CIRP) work?
CIRP is initiated when a corporate debtor defaults on payments. A resolution professional is appointed to manage the process, formulate a resolution plan, and work with creditors to resolve the company’s debts within a stipulated time.
3. What is the role of a liquidator in insolvency proceedings?
A liquidator is appointed to sell the assets of the distressed company in liquidation proceedings and distribute the proceeds to creditors in a manner prescribed by law.
4. Can individuals file for insolvency under the IBC?
Yes, individuals and partnership firms can file for insolvency under the Personal Insolvency provisions of the IBC to address overwhelming debt