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Voluntary Liquidation

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 the 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, JurisTatva believes that the role of Professionals has expanded significantly under the regime of the Code. Our service offering under the regime includes, but is not limited to, the following:

ADVISORY SERVICES:

Case Assessment & Strategy: Comprehensive consultancy services related to distressed assets, which include finding options for debt resolution and corporate restructuring.
Monitoring & Compliance Oversight: Ongoing consultancy services to ensure that all processes are strictly aligned with IBBI regulations.
Value-Added Professional Support: Assistance in preparing legal documents, feasibility reports, and representation for various insolvency-related issues.
Strategic IBC Consultancy: Expert legal and financial consultancy services related to the Insolvency and Bankruptcy Code for debtors, Financial & Operation Creditors, etc.


​INSOLVENCY RESOLUTION 
​SERVICES:

Corporate Insolvency Resolution Process (CIRP): Providing services as an Interim Resolution Professional (IRP) or Resolution Professional (RP) for the company during the resolution period.
Resolution Plan Evaluation: Assisting the Committee of Creditors (CoC) in the evaluation and verification of resolution plans presented by potential investors for the company.
Preparation of Information Memorandum: Preparation of necessary legal documents for inviting bids for the revival of the company.
CoC Management: Managing meetings of the Committee of Creditors in accordance with the IBBI timelines.

LIQUIDATOR SERVICES:

Statutory Appointment: Providing services as the Insolvency Professional registered with IBBI to oversee and manage the entire liquidation process.
Asset and Claims Management: Assisting in the custody of all assets, obtaining professional valuations, and verifying creditor claims.
Operational Oversight: Managing the business of the corporate debtor, if necessary, for value maximization for stakeholders.
Distribution and Dissolution: Entering into asset sale agreements as per the "waterfall" mechanism under the IBC and obtaining orders for dissolution from NCLT.


​COMPLIANCE & REPRESENTATION SERVICES:

NCLT Representation: Representing clients at the National Company Law Tribunal for filing applications and petitions and obtaining the final dissolution orders.
IBBI & IPA Reporting: Handling all the mandatory e-reporting requirements mandated by the Insolvency and Bankruptcy Board of India.
Stakeholder Coordination: Being the single point of contact between creditors, shareholders, employees, and government authorities such as Income Tax, GST, and MCA.