Insolvency Resolution Professional

OUR SERVICE

Guiding Businesses Through Challenging Times.

Our Insolvency Resolution Professional (IRP) services are designed to help businesses and individuals effectively address financial distress under the Insolvency and Bankruptcy Code (IBC), 2016.  
 

As registered insolvency professionals, we provide end-to-end support, ensuring compliance with legal frameworks while working toward resolution or liquidation in the most efficient manner. With deep domain knowledge and a proactive approach, we aim to protect stakeholders’ interests while driving effective outcomes.

Corporate Insolvency Resolution Process (CIRP)

  – Assistance in drafting and filing insolvency applications.  
  – Coordination with creditors, stakeholders, and committees of creditors (CoC).  
  – Formulating and implementing resolution plans.  

Liquidation Process Management

  – Guidance on initiating and managing the liquidation process.  
  – Distribution of assets and compliance with IBC guidelines.

Personal Insolvency Resolution

  – Advisory and representation for individuals under personal insolvency.  
  – Negotiations with creditors and preparation of repayment plans.  

Representation in Legal Proceedings

  – Acting as insolvency professionals before the National Company Law Tribunal (NCLT).  
  – Assisting in court-related matters during the resolution process.  

Our FAQ

Frequently Asked Questions?

What is the role of an Insolvency Resolution Professional

An Insolvency Resolution Professional is responsible for overseeing the insolvency resolution process, ensuring compliance with the Insolvency and Bankruptcy Code (IBC), 2016. They act as intermediaries between creditors and debtors, facilitating resolution plans or liquidation processes.  

When should a business consider insolvency resolution?

A business should consider insolvency resolution when it is unable to repay debts or meet financial obligations. Early intervention through professional guidance can help explore restructuring or resolution options before liquidation becomes necessary.  

Can individuals seek insolvency resolution under the IBC?

Yes, individuals can file for insolvency under the IBC for personal debts. The process involves drafting repayment plans, negotiating with creditors, and resolving debts as per IBC guidelines. 

How can your firm help in the insolvency resolution process?

We provide comprehensive services, including filing applications, representing clients before the NCLT, managing creditor meetings, and developing resolution or liquidation plans. 

Can insolvency resolution save a failing business?

Yes, if initiated early, insolvency resolution can provide an opportunity to restructure and revive the business while protecting stakeholders’ interests.

How long does the Corporate Insolvency Resolution Process (CIRP) take?

The CIRP process typically lasts 180 days, which can be extended by an additional 90 days with approval from the National Company Law Tribunal (NCLT). Timelines may vary based on case complexity.  

What is the difference between insolvency resolution and liquidation?

Insolvency resolution involves restructuring or formulating a plan to settle debts and revive the entity, whereas liquidation focuses on winding up the entity and selling its assets to pay off creditors. 

What documents are required for initiating the insolvency process?

Documents such as financial statements, creditor lists, loan agreements, and evidence of default are required. Specific requirements may vary depending on the nature of the case.

What are the penalties for non-compliance with IBC regulations?

Non-compliance with IBC regulations can lead to financial penalties, disqualification of directors, and potential legal actions. Our team ensures full compliance to avoid such risks.

How do I get started with your Insolvency Resolution services?

You can reach out to us via our contact form or call our support team to schedule a consultation. Our experts will guide you through the process based on your specific needs.