Insolvency & Bankruptcy

Insolvency & Bankruptcy

The firm excels and specializes in insolvency, bankruptcy and debt recovery disputes and provides end-to-end solutions in this sector. The firm regularly represents major banks, financial institutions, asset reconstruction companies, promoter groups and insolvency resolution professionals/liquidators. We also advise creditors at various stages of stress and submission of corporate insolvency resolution plans. We provide clients with end-to-end solutions across the capital structure, from early detection of stress to restructuring under court-supervised/informal processes and bankruptcy/liquidation.

Corporate Insolvency Resolution Process (CIRP)

We provide legal assistance in matters relating to the Corporate Insolvency Resolution Process under the IBC. This may include reviewing relevant documentation, advising on procedural requirements, and assisting eligible stakeholders with applications, claims, and related proceedings before the appropriate forum.

Creditor Rights & Debt Recovery

We advise creditors and other stakeholders on legal issues involving outstanding dues, payment defaults, financial claims, and recovery-related disputes. Our focus is on assessing the available remedies and helping clients understand the legal processes applicable to their circumstances.

Insolvency Applications & Proceedings

Our firm assists with insolvency-related applications and proceedings before the National Company Law Tribunal (NCLT) and other competent forums, where applicable. We help prepare relevant documentation, assess legal requirements, and develop case-specific strategies based on the facts and applicable law.

Our Approach to Insolvency Matters

At the Law Office of Paromita Majumdar, we recognise the financial and operational challenges that insolvency proceedings can create. We aim to provide structured legal guidance, diligent case preparation, and practical strategies to help clients understand their options and navigate proceedings with greater clarity and confidence.

Frequently Asked Questions (FAQs)

Who can initiate insolvency proceedings under the IBC?
Financial creditors, operational creditors, and the corporate debtor itself can initiate proceedings, subject to statutory thresholds and conditions.
An insolvency resolution professional is appointed to manage the company’s affairs, and a moratorium is imposed on legal actions. Creditors then participate in the resolution process.
CIRP is the structured process through which a stressed company is either revived through a resolution plan or proceeds towards liquidation if revival is not possible.
Yes. The firm advises creditors and stakeholders on preparing, evaluating, and negotiating resolution plans in compliance with IBC requirements.
Liquidation occurs when no viable resolution plan is approved within the prescribed timeframe or when revival is not feasible under the law.
Law Office of Paromita Majumdar

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