Our Chamber is one of the leading law firms of India which handles Litigation and Advisory issues relating to Insolvency & Bankruptcy Code, 2016.
The provisions of the Insolvency & Bankruptcy Code, 2016 envisage resolution of insolvency of the Corporate entities facing financial crunch by triggering Corporate Insolvency Resolution Process in a time bound manner through formulation of Resolution Plan or in the alternate, liquidation if Resolution of debts is not possible.
The provisions of the Insolvency & Bankruptcy Code, 2016 has been amended from time to time, with the latest Amendment coming into force from 16th August, 2019 whereby the upper limit for Corporate Insolvency Resolution Process has been capped at 330 days failing which the Companies have to be put into liquidation.
Under the provisions of the Insolvency Code, the NCLT is the Adjudicating Authority and the NCLAT is the First Appellate Tribunal. Any challenge to the order of NCLAT lies before the Hon’ble Supreme Court of India.
Our Chamber has been involved in some of the leading cases relating to Insolvency & Bankruptcy Code like :-
- Bhushan Power & Steel Ltd.
- Alok Industries Ltd.
- Ruchi Soya Industries Ltd.
- Videocon Group
- SEL Manufacturing Company Ltd.
- Liberty Group House Pte. Ltd.
- Ansal Group
- Uttam Galva Steels Ltd. & Group Companies
- Metenere Ltd.
- Sharp Corp Group
- NCML Group
- Arfat Petrochemicals Pvt. Ltd.
- Spentex Group (now known as CLC Industries Ltd.)