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IRP (Insolvency Resolution Process)

Under the Insolvency and Bankruptcy Code, 2016 (IBC), in case a Corporate Debtor makes a default in repayment of dues of the creditors, the financial creditor/s, can start an insolvency resolution process for recovery. An application has to be made to National Company Law Tribunal (NCLT) in order to initiate the resolution process, viz., Corporate Insolvency Resolution Process (CIRP).

If the CIRP is admitted by the NCLT, the claims of the Creditors are frozen for a period of six months. During this time, the NCLT shall listen to the options submitted by Creditors for revival and decide the future course of action, i.e., revival plan for debt resolution, corporate restructuring or liquidation. This process happens in stages.

For Listed Companies, additional surveillance mechanism by the exchanges will be applicable on such stocks. Intra-day trading and BTST will not be allowed and 100% margins will be applicable.

We assist Banks to initiate Insolvency Process and take them to their logical conclusion