OUR SERVICES UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC)
The Insolvency and Bankruptcy Code, 2016 (IBC) came into force with effect from 28th May, 2016. With the emergence of Insolvency and Bankruptcy Code, 2016, there is a tremendous reform in the bankruptcy and insolvency process in India. The processes which took ages to conclude insolvency / bankruptcy, are now simplified and expedited, ensuring fair negotiations between Debtor and Creditor by removing the asymmetry of debt and default information
Having perused the Code, S. & S. ASSOCIATES believe that the role of Professionals has expanded significantly under the regime of the Code. Our service offering under the regime includes but not limited to the following:
ADVISORY SERVICES:
- Consultancy services on Insolvency & Bankruptcy to Debtors, Creditors and other concerned person(s).
- Advisory services on Insolvency & Bankruptcy to Debtors, Creditors and other concerned person(s).
- Monitoring services and guidance and support to its clients with the matters pertaining to Insolvency & Bankruptcy.
- Other affiliated services.
LIQUIDATOR SERVICES:
Liquidator" under the regime code means an insolvency professional appointed as a liquidator in accordance with the provisions of the Act.
- Acting as Liquidator for the liquidation process.
- Verification of claims, Have custody of all the assets, Evaluation of the assets and property
- To carry on the business of the Corporate Debtor for its beneficial liquidation.
- Distribution of assets in the manner as laid down under the Code.
- Application to the competent authorities for dissolution of the corporate debtor.
- Other assignments under Insolvency and Bankruptcy Code 2016.
