Expert Legal Support in Insolvency & Bankruptcy Matters

The introduction of the Insolvency and Bankruptcy Code (IBC), 2016 has transformed the way financial distress and corporate insolvency are handled in India. The IBC provides a time-bound framework for resolving insolvency and bankruptcy cases, protecting the interests of creditors while also allowing businesses a chance for restructuring and revival.

At Ghamdaan Law Firm, our team of experienced insolvency and bankruptcy lawyers in Delhi represent financial creditors, operational creditors, corporate debtors, and resolution professionals before the National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT), and higher courts.

Our Insolvency & Bankruptcy Legal Services

We offer comprehensive legal solutions under the Insolvency & Bankruptcy Code (IBC), including:

• Filing Insolvency Applications before NCLT on behalf of creditors or debtors.
• Corporate Insolvency Resolution Process (CIRP) representation.
• Individual & Partnership Insolvency matters.
• Advisory on Debt Restructuring & Settlements
• Drafting and Reviewing Resolution Plans
• Legal Representation for Resolution Professionals (RP/IRP)
• Liquidation Proceedings & Asset Recovery
• Challenging and Defending NCLT/NCLAT Orders
• Cross-Border Insolvency Issues

Frequently Asked Questions

Q1: Who can initiate insolvency proceedings under IBC?
Both financial creditors (banks, lenders) and operational creditors (suppliers, service providers) can initiate insolvency proceedings if a company defaults on payments above the statutory threshold.

Q2: What is the role of NCLT in insolvency matters?
The NCLT acts as the adjudicating authority for insolvency and bankruptcy proceedings, including approving resolution plans or ordering liquidation.

Q3: Can individuals file for bankruptcy under IBC?
Yes. The IBC also provides a framework for individuals and partnership firms to seek insolvency resolution or bankruptcy proceedings.

Q4: What is the difference between insolvency and bankruptcy?
Insolvency is the state of financial distress where liabilities exceed assets, while bankruptcy is the legal declaration and process of resolving insolvency through court/tribunal proceedings.