Insolvency & IBC Matters
Navigate the Insolvency and Bankruptcy Code 2016 — initiate or defend Corporate Insolvency Resolution Process (CIRP), file claims, assist resolution professionals and represent before NCLT and NCLAT.
Need IBC assistance?
Share the nature of the matter — creditor, debtor or resolution professional. We assess and advise immediately.
Talk to a CS →A complete insolvency & ibc matters package
CIRP Initiation (S.7/9/10)
Filing of insolvency application by financial creditor (S.7), operational creditor (S.9) or corporate debtor (S.10) before NCLT.
Demand Notice (Section 8)
Demand notice issued by operational creditor 10 days before filing Section 9 application — mandatory pre-condition.
NCLT Representation
Representation at admission hearing, COC meetings and resolution plan approval hearings before NCLT.
Claim Filing Support
Assistance to financial and operational creditors in filing claims before the Interim Resolution Professional (IRP).
Resolution Plan Compliance
Secretarial and corporate law compliance review of proposed resolution plans before submission to COC.
Liquidation Support
Corporate law compliance during liquidation — asset realisation, creditor claims and final dissolution filings.
What is needed for insolvency & ibc matters
Section 7 — Financial Creditor
A financial creditor can file for CIRP on default of Rs 1 crore or more — debt and default must be proven.
Section 9 — Operational Creditor
An operational creditor must send a 10-day demand notice before filing — no pre-existing dispute must exist.
Section 10 — Corporate Debtor
The corporate debtor itself can initiate CIRP by filing before NCLT — board and shareholder approval required.
180 + 90 Day CIRP Timeline
CIRP must be completed in 180 days (extendable by 90 days) — resolution plan approved or liquidation ordered.
Moratorium Under Section 14
Upon CIRP admission, a moratorium is imposed — all suits, executions and asset transfers are stayed.
COC Voting — 66% Threshold
Resolution plan must be approved by the Committee of Creditors with at least 66% voting share.
IBC timelines are strict and non-compliances during CIRP can expose the resolution professional to personal liability. The 180-day window cannot be extended beyond 330 days in aggregate. We monitor CIRP milestones and ensure all statutory obligations are met within time.
Common issues with insolvency & ibc matters
Simple steps, no surprises
Matter assessed
Nature of default, creditor type and quantum confirmed — appropriate IBC section and strategy identified.
Application / notice prepared
Demand notice (S.8) or NCLT application (S.7/9/10) drafted with supporting debt and default evidence.
NCLT admission and CIRP
Application filed before NCLT — IRP appointed, moratorium triggered, COC constituted.
Resolution or liquidation
Resolution plan approved by COC and NCLT — or liquidation order obtained and compliance completed.
Other services you may need
Frequently asked questions
The Corporate Insolvency Resolution Process (CIRP) is a time-bound process under the Insolvency and Bankruptcy Code 2016 to resolve the insolvency of a corporate debtor. It is initiated before the NCLT and must be completed within 180 days (extendable to 330 days in total).
A financial creditor can file under Section 7, an operational creditor under Section 9 (after serving a 10-day demand notice), and the corporate debtor itself can file under Section 10 — all before the NCLT.
The minimum default amount for initiating CIRP under the IBC is Rs 1 crore. Applications involving smaller defaults are not admitted by the NCLT.
Upon admission of the CIRP application, the NCLT appoints an Interim Resolution Professional (IRP), imposes a moratorium under Section 14 (which stays all suits and asset transfers) and the management of the corporate debtor vests in the IRP.
The Committee of Creditors (COC) consists of all financial creditors of the corporate debtor. The COC oversees the CIRP, appoints the Resolution Professional and approves (or rejects) the resolution plan — with a 66% voting threshold for approval.
Dealing with an IBC or insolvency matter?
We advise creditors, debtors and resolution professionals — CIRP filing, NCLT representation and IBC compliance.