Insolvency & IBC Lawyers India | Resurgent Legal LLP

Overview

Our insolvency and IBC lawyers in India advise corporate debtors, creditors, and resolution applicants on financial distress and insolvency proceedings. Combining corporate and commercial law experience with an understanding of different business sectors, we support clients in assessing financial distress and navigating the resolution process. Our work extends from contingency planning and proceedings to legal due diligence, resolution-plan preparation, compliance reviews, and implementation support.

Key Services

Contingency planning, pre-insolvency advice, and financial distress support.
Initiation of insolvency proceedings and representation of creditors and debtors.
Financial restructuring advice and support with negotiations and arrangements.
Legal due diligence of corporate debtors and resolution-plan drafting.
Compliance reviews of resolution applicants and proposed resolution plans.
Legal support during and after resolution-plan implementation.

FAQs

Frequently Asked Questions

Insolvency & Bankruptcy — answers to the questions clients ask us most.

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What is the IBC and when does it apply?

The Insolvency and Bankruptcy Code, 2016 applies when a corporate debtor defaults on ₹1 crore or more. Financial creditors, operational creditors, or the debtor itself can initiate proceedings before the NCLT.

Resolution plan vs liquidation — what is the difference?

A resolution plan revives the debtor through new management, debt restructuring, or asset sale. Liquidation sells assets to repay creditors when no viable plan is approved. Resolution is always preferred under the IBC.

Who can be a resolution applicant?

Any person, but Section 29A disqualifies willful defaulters, undischarged insolvents, NPA-connected persons, and disqualified directors. We conduct Section 29A compliance checks for prospective applicants.

What is pre-insolvency advisory?

Assessing options before formal IBC proceedings — restructuring, OTS with lenders, strategic stake sales, asset monetisation, and contingency planning. Early advisory often avoids formal insolvency.

How long does CIRP take?

180 days, extendable by 90 (total 270). The Supreme Court holds 330 days as the outer limit including litigation. We ensure compliance with statutory deadlines.