Insolvency & Bankruptcy

Insolvency and bankruptcy are critical matters when it comes to companies as such cases have the potential of causing financial mismanagement, eventually leading to the closure of the business. It is thus imperative that services from legal firms should be taken to deal with insolvency and bankruptcy cases.

 

Our Speciality

 

Our firm offers services relating to insolvency and bankruptcy services for debtors and corporate creditors in the country. We have substantial experience in dealing with such cases when it comes to operational as well as financial creditors.

Insolvency

Insolvency can be identified by two tests namely when the company is not able to pay its debts when they should have paid the same and the second test would be at the time when company’s assets would be less than the liability of the company. The warning sign for insolvency would ideally be when the company is unable to pay the debts to the creditors which also include non-compliance of payments within the promised deadline. The other sign is when the creditors take to the threatening of legal action or if they have taken steps to try to liquidate the company so that they can be compensated for the dues.

There is no single point however to showcase as to when a person or company does become insolvent. We also offer services through liquidator who will identify the indicators of insolvency as to if the company is suffering from following listed indicators:

• Suffering from any kind of recurrent losses each financial year
• Have failed to pay taxes and meet other obligations as specified by law
• Have issued any kind of dishonored cheques
• Have exceeded the due date of payment to different creditors

Range of Services

Our range of services in the insolvency and bankruptcy niche are inclusive of:

• Giving advice to domestic and foreign companies who invest in distressed companies which have been undergoing insolvency proceedings.
• Offer services to hedge funds on structured investments in stressed asset space in the country
• We offer advice to international and domestic banks on the initiation of IBC proceedings
• We assist insolvency professionals in their proceedings against different distressed companies
• We also defend writ petitions which have been filed by distressed companies

Our insolvency and bankruptcy team is a combination of lawyers and company secretaries from across the segment. In the past also we have advised a number of banks (both national and international), fund acquirers, industry professionals, and distressed companies on different implications of IBC.

Get in touch for any insolvency and bankruptcy legal issues and get remedial action in a short time frame with utmost satisfaction.