An effective and fast insolvency/bankruptcy procedure will allow businesses to be sold/wound down while there is value remaining in the business, allowing for maximized recovery and better addressal of interests of various parties involved.
With the above objective, India notified a new code - the Insolvency & Bankruptcy Code, 2016. Prior to the enactment of the Code, earlier insolvency & bankruptcy of individuals, firms or corporations in India was governed by a multi layered process which was stipulated under several legislations resulting in adjudication before multiple fora and eroding the economic value of the company. The Code is a big step towards strengthening investors’ confidence in the Indian debt market.
We act for local and international clients in debt recovery, restructuring and insolvency matters. We have a dedicated team who keeps abreast with the legal developments in the insolvency resolution regime. Sound and effective insolvency resolution advice involves integration of experience and knowledge and our robust litigation and banking practice enables us to cater to the needs of corporate creditors, banks and agencies lending funds, investors including financial investors and corporate debtors on debt restructuring, rescheduling and formal insolvency procedures.