BOUQUET OF SERVICES
INSOLVENCY AND BANKRUPTCY
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 on insolvency / bankruptcy, are now simplified and expedited, ensuring fair negotiations between Debtor and Creditor by removing the asymmetry of debt and default information, with the support of institutional infrastructure involving:-
- The Insolvency and Bankruptcy Board of India (the Regulator)
- Debt Recovery Tribunal and National Company Law Tribunal (the Adjudicating Authorities)
- Insolvency Professionals. They control and manage the assets of the debtor and ensure that they are
protected while negotiations take place.
- Insolvency Professional Agencies. They admit the Insolvency Professionals as the Members and ensure such Members’ Code of Conduct.
Mr. G. Raghu Babu, Co-founder and Partner and Mr. R. Ramakrishna Gupta, Senior Partner of R & A Associates, Company Secretaries are the registered Insolvency Professionals. Our Insolvency & Bankruptcy Team, shall play a vital role in providing appropriate support for Corporate as well as Individual insolvency and bankruptcy procedures and provide sustenance for creditors / debtors during troubled debt recovery in various areas of business. Our key principle is to ensure win-win financial solutions for our clients’ business objectives vis-à-vis the market situation. Our service offerings under this segment include:-
- Consultancy Services on Insolvency and Bankruptcy to Debtors, Creditors and other Insolvency Professionals.
- Role and responsibilities as Interim Resolution Professional and Resolution Professional:
- Management of Corporate Affairs of the Corporate Debtor.
- Determining the Financial position of the Debtor.
- Instructing the financial institutions.
- Executing Deeds, receipts and other documents of Debtor.
- Execution of Contracts and modification of the existing contracts where required.
- Accessing electronic Records with Information Utility
- Receive and Collate all the claims.
- Constitution of Committee of Creditors and conducting its Meetings.
- Monitoring the assets of the Debtor including Control and Custody of assets with ownership rights.
- File information collected with Information Utility, where required.
- Raise interim finance with the approval of Committee of Creditors.
- Determining the Voting share of the Creditors.
- Preparation of Information Memorandum.
- Obtaining approval from the Committee of Creditors for certain actions.
- Examination of Resolution Plan and obtain approval of the Committee of Creditors.
- Submission of Resolution Plan to Adjudicating Authority.
- Co-ordination with the Insolvency and Bankruptcy Board of India.
- Assistance in extension of period of Corporate Insolvency Process beyond 180 days.
- Liquidator Services.
- Fast Track Corporate Insolvency Resolution Process.
- Representing the Creditor in the meeting of Committee of Creditors, where such Creditor is the member.
- Appearance before the Tribunal – Adjudicating Authority.