The team has Insolvency Professionals who have handled few Insolvency assignments for Private Companies. The team has the expertise in advising on Insolvency related matters.
The profession and the regime for insolvency professionals in India came into existence following the enactment of the new Insolvency and Bankruptcy Code 2016 (“IBC”) in late 2016. The adoption of the IBC has resulted in a shift away from a debtor-in-possession rescue regime to one that is largely creditor-run, pursuant to which insolvency professionals take control of a financially distressed company as part of the resolution process and coordinate its management and operations in tandem with its financial creditors. Today, there are over 2000 insolvency professionals registered with the Insolvency and Bankruptcy Board of India (“IBBI”).
The Liquidation of companies including voluntary liquidations have to be carried out as per the provisions of IBC.