Publishing the public announcement in newspapers as per the guidelines of the Insolvency and Bankruptcy Board of India Regulations (Insolvency Resolution Process for Corporate Persons), 2016.
An Interim Resolution Professional is appointed by Debtor / Creditor / NCLT to conduct certain functions under IBC 2016 for the initial 30 days from the date of admission of case by NCLT. A Resolution Professional is the Insolvency Professional appointed by the Committee of Creditors in its First Meeting. Either the Interim Resolution Professional or another Insolvency Professional may be appointed as Resolution Professional.
Our team of Insolvency Resolution Professionals consists of eminent former senior Bankers, Chartered Accountants, Cost Accountants, Industry Veterans and Financial Experts and all are registered with the Insolvency and Bankruptcy Board of India and have extensive knowledge and wide experience.
Conducting the resolution process at the NCLT Bench as per time schedule and advising Corporate Debtors, Financial Creditors and Operational Creditors correctly, are our forte.
The Insolvency Resolution Services offered by our dedicated team of Experts includes Corporate Consultancy to the Corporate Debtor, Financial Creditor and Operational Creditor to file the Insolvency Resolution cases with the NCLT Bench. We also provide consultancy services for voluntary liquidation of Corporates.
We also provide secretarial assistance with the secretarial work to the Resolution Professionals. These services include the following:
Publishing the public announcement in newspapers as per the guidelines of the Insolvency and Bankruptcy Board of India Regulations (Insolvency Resolution Process for Corporate Persons), 2016.
Formulating / drafting the Agenda for the Meeting of Committee of Creditors. The agenda is prepared by our team of experts as per IBC 2016.
Preparation and sending of the Notice of Meeting by appropriate means. Our team prepares the notice as per the guidelines of the Insolvency and Bankruptcy Board of India Regulations (Insolvency Resolution Process for Corporate Persons), 2016.
Preparation of the Minutes of the Meeting.
Prepare the Action Taken Report which is based on the decisions taken during the previous meetings.
Compile the Information Memorandum as per the Insolvency and Bankruptcy Board of India Regulations (Insolvency Resolution Process for Corporate Persons), 2016. The Information Memorandum contains the financial particulars of the Corporate Debtor.
Correspondence with Banks and Statutory Authorities regarding the initiation of Corporate Insolvency. Our team ensures that there is complete compliance of the IBC 2016.
Other additional support such as arranging Valuers for valuation of assets of corporate debtors, security agencies for safe guarding the physical assets of the Corporate Debtor and E-voting / IT Support are also provided by us.
We provide legal assistance to our clients through empanelled advocates for initiating the Insolvency Resolution process. We have established associations with reputed Legal Firms to undertake cases with NCLT Benches. All the needs of the client with regard to making an application with NCLT / NCLAT are taken care of.
As per section 5(26) of the IBC, "Resolution Plan" means a plan proposed by any person for insolvency resolution of the Corporate Debtor as a going concern. A Resolution Plan is prepared on the basis of the information Memorandum given by the Resolution Professionals.
A Resolution Plan shall identify particular sources of funds that will be used to cover the following:
The Insolvency Resolution Process costs.
The Liquidation Value which is due to the Operational Creditors.
The Liquidation Value outstanding to dissenting Financial Creditors.
Our team of Experts will help the Resolution applicant to prepare an appropriate Resolution Plan for the business entity.
