Insolvency & Bankruptcy Law
Representation of creditors, homebuyers and corporate debtors before the NCLT under the Insolvency and Bankruptcy Code, 2016 — CIRP initiation, claims, resolutions and defence.
The Insolvency and Bankruptcy Code, 2016 replaced decades of fragmented recovery law with a single, time-bound process. Whether you are owed money by a defaulting company, a homebuyer waiting for possession, or a business fighting to survive a cash-flow crisis, the difference between a good and bad outcome is the quality of your strategy in the first few weeks.
What we handle
- Initiation of the Corporate Insolvency Resolution Process (CIRP) — applications by financial creditors under Section 7 and operational creditors under Section 9. The monetary threshold for triggering CIRP is currently ₹1 crore of default (raised from ₹1 lakh by a 2020 notification).
- Homebuyer petitions — homebuyers with default claims above the threshold are recognised financial creditors under Section 7, and the chamber navigates the interplay between the IBC, RERA and the consumer forums.
- Creditor participation — proof of claims, membership of the committee of creditors (CoC), voting strategy, and challenges to the resolution professional’s conduct.
- Corporate debtor defence — resisting premature or malicious applications, “pre-existing dispute” objections, moratorium management and negotiated withdrawals under Section 12A.
- Personal guarantors — insolvency proceedings against personal guarantors of corporate debtors, and defence of creditor claims against guarantor assets.
- Pre-packaged insolvency — for eligible MSMEs, the faster pre-pack route under Section 54A and following.
The reality of IBC timelines
The Code promises resolution within 330 days including litigation. In practice, the quality of the initial application and the creditor’s vigilance at every stage decide whether you are a party shaping the process or a spectator watching it. Early legal intervention is not optional — it is the whole game.
Important: Once a moratorium under Section 14 is declared, no suit or proceeding can be instituted against the corporate debtor, and recovery through other forums stops. If your counterparty files for insolvency, your claim must be filed with the resolution professional within the stipulated window or it may be extinguished in resolution.
IBC is a timeline-driven statute. Filing strategy and evidence of default are settled before the petition, not after admission.