IBC

The IBC-2016 (Insolvency and Bankruptcy Code) is the Indian bankruptcy law that creating a single law for insolvency and bankruptcy. The Insolvency and Bankruptcy Code, 2015 was introduced in Lok Sabha in Dec. 2015. it had been passed by Lok Sabha on 5th May 2016 and by Rajya Sabha on 11th May 2016. The Code received the assent of the President of India on 28th May 2016. Certain provisions of the Act have come into force from August 2016. The bankruptcy code could be a one-stop solution for resolving problems of insolvencies and bankruptcy which previously was a long process that didn’t offer an economically viable arrangement. The code aims to protect the interests of small investors and make the process of doing business simple. The IBC has 255 sections and 11 Schedules.

As a part of restructuring & bankruptcy experience, We NPA Lawyers & Consultants advises corporate debtors, financial and operational creditors, for a variety of services which incorporates strategizing and advising the client from the perspective of the Insolvency and Bankruptcy Code; Filing/defending insolvency petition before the National Company Law Tribunal (NCLT) and also the National Company Law Appellate Tribunal (NCLAT); Restructuring/ revival exercise of the corporate debtor, including, preparation or assisting within the examination of resolution plans; Initiating/ defending proceeding against guarantors/mortgagors of the corporate debtor; Advising and working on behalf of the resolution professional, and Advising the client on the various facets of the insolvency and liquidation process.