To help us in the financial and technical domain, we have a large team of about 150 experts with integrated experience in the field...
We provide legal assistance to our clients through empanelled advocates for initiating the Insolvency Resolution process. We have...
Our country has been suffering from the lowest recovery rate in the world at about 20% of debt resulting in huge accumulation of NPAs caused due to various reasons attributed to debtors or creditors. It could be due to genuine business failure or the willful default by the borrowers or sudden downturn in industry or economy. On 28th May 2016, the Insolvency and Bankruptcy Code (IBC 2016) was enacted to provide the legal and legislative framework to support lenders effectively to recover or restructure defaulted debts in time. The Code became operational in December 2016.
The code replaces various previous multiple legislations and provides the appropriate platform for Insolvency Resolution within maximum 270 days from the date of admission failing which the liquidation of Debtors’ Assets will be initiated. It envisages an ecosystem comprising of National Company Law Appellate Tribunal (NCLAT), National Company Law Tribunal (NCLT), Debt Recovery Appellate Tribunal (DRAT), Debt Recovery Tribunal (DRT), Insolvency and Bankruptcy Board of India (Board), Information Utilities (IUs), Insolvency Professionals Agencies (IPAs), Insolvency Professionals (IPs) and Insolvency Professional Entities (IPEs) for implementation of the code. The code is now fully operational and a number of long pending litigations relating to corporate insolvency resolution and liquidation are getting settled fast. LSI aims to be a vibrant player in the new emerging Insolvency Resolution regime as an Insolvency Professionals Entity (IPE) by making available the services of Insolvency Resolution Professionals and other professionals like Chartered Accountants, Cost Accountants, Advocates, Valuers, Engineers, Project consultants, Security personnel under one roof.
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.
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 safeguarding the physical assets of the Corporate Debtor and E-voting / IT Support are also provided by us.
Preparation of the Minutes of the Meeting.
Prepare the Action Taken Report which is based on the decisions taken during the previous meetings.
In the whole process, Insolvency Professionals (IPs), who act as Interim Resolution Professional (IRP) and / or Resolution Professional (RPs) play a pivotal role. The IPs are registered and regulated by the... Read More
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... Read More
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... Read More
The Insolvency & Bankruptcy Board of India publishes important notices, announcements, court orders, amendments in the Act, etc. from time to time. Here are the quick links:
Assam Company India Limited
BRG Iron & Steel Co. Private Limited
Bhuvee Stenovate Private Limited
Kilburn Chemicals Limited
Modern India Concast Limited
Impex Metal & Ferro Alloys Limited
