Bankruptcy & Insolvency Lawyer in Delhi
Insolvency and Bankruptcy, a unified code came into force in 2016. The Insolvency and bankruptcy law is a form of social legislation encompassing all companies, partnership and individuals. It aims at proving relief to all of them. It undertakes to maximize the value of the assets of the debtors and also tries to balance interest of all the shareholders. The Code guarantees to achieve far-reaching reforms with a push on creditor driven insolvency resolution. It aims at prior identification of financial failure and increasing the asset value of insolvent firms/companies.
Insolvency refers to a state of a person does not have sufficient property for repaying his debts. An ‘insolvent’ person ceases to pay his debts in ordinary course of business.
Bankruptcy is said to be the last resort when financial issues are spilled out of control. It is a statutory procedure caused by insolvency through which a person is relieved of most of its debts and undergoes judiciary supervision or liquidator for the benefit of that person’s creditor.
The Central Government has constituted National Company Law Tribunal (NCLT) under section 408 of the Companies Act, 2013 (18 of 2013) w.e.f. 0106.2016. In the first phase the Ministry of Corporate Affairs have set up eleven Benches, one Principal Bench at New Delhi and one each Regional Benches at New Delhi, Ahmedabad, Allahabad, Bengaluru, Chandigarh, Chennai, Guahati, Hyderabad, Kolkata and Mumbai. Primarily we practice at New Delhi, but we used to appear before all NCLT across the country. Company law practice is our core area of practice. Our NCLT team of corporate lawyers is much experienced and well equipped and updated under the guidance of Mr. Singh who is one of the “best corporate lawyer in Delhi India”.
Besides the same, we also serve our numerous clients on their multifarious projects in following manner or in following ways under various laws:
i. Practice before NCLT & NCALT.
ii. Incorporation of Companies/LLP in India and abroad.
Our firm has experienced lawyers for this particular field along with a well-equipped team of C.A’s. We provide various services under the insolvency and bankruptcy law as follows:
- Insurance claim recovery
- Drafting and finalizing loan documentation
- Helps in external commercial borrowing
- Informal arrangement with creditors
- Debt agreement with creditors
- Corporate recovery of assets
- Annulment of bankruptcy
- Claims against directors
- Liquidation of company
- Crisis and communication management
- Emergency proceedings including interim relief
Our corporate practices include the following industries:-
- Construction & Infrastructure, Telecommunication and IT, Agriculture, Computer Software & Hardware, Food & Beverages, Paper & Chemicals, Energy, Mining & Metals, Oil & Gas, Financial Services, Health Care & Hospitality, Insurance, Shipping & Maritime, Pharmaceutical, Entertainment & Media, Real Estate, Manufacturing Sector, Aviation, Transport & Automotive, Professional & Business Services