Insolvency and bankruptcy in India had become one of the biggest challenges for the Indian economy in the last decade especially since the insolvency law in India was ancient and archaic. Recognizing that reforms in the insolvency and bankruptcy regime are critical for improving the business environment and alleviating distressed credit markets, the Government of India introduced the Insolvency and Bankruptcy Code Bill in November 2015, drafted by a specially constituted ‘Bankruptcy Law Reforms Committee’ (BLRC) under the Ministry of Finance. After a public consultation process and recommendations from a joint committee of Parliament, both houses of Parliament passed the Insolvency and Bankruptcy Code, 2016 (“Code/IBC”).
The revised insolvency and bankruptcy law offers a uniform, comprehensive insolvency legislation encompassing all companies, partnerships and individuals (other than financial firms). The Government of India is proposing a separate framework for bankruptcy resolution in failing banks and financial sector entities.
Since its inception A&A has been regularly appearing for their clients in all Company Law Tribunals and helping their clients recover their rightful dues. We have a team of experienced insolvency and bankruptcy lawyers, they handling cases for and against financial creditors as well as operational creditors in a time bound and cost-effective manner. A&A if amongst the select few law firms in India who have been representing its clients across all 11 benches of the National Company Law Tribunals and also in the National Company Law Appellate Tribunal.
Ahlawat and Associates is one of the leading Insolvency and Bankruptcy Law Firms headquartered in Delhi NCR serving clients PAN India including cities such as Bangalore, Mumbai, Chennai, Hyderabad, Chandigarh, Pune, Gurugram, Kolkata.
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Expert Professionals
A&A is among the top corporate law firms in India. At A&A, we believe that we are as good as our team, Our principle has guided us to ensure that we have the best corporate lawyers in India based at our main offices while the leading corporate lawyers in other parts of the world run our various practices across the nation, thus ensuring optimum management and service of even the most complex transactions. It is due to our standards of professional responsibility when dealing with our clients and various matters, which we stringently abide by that has enabled us to qualify as one of the reputed corporate law firms in India.
Whilst A&A commercial law services has been able to cater to legal needs pan India as well as globally, its main founding office and headquarters is in Delhi and it is due to this foothold. A&A corporate lawyer in India has played a vital role in providing advice to the government on various legal and policy-related issues and is amongst the few corporate law firms in India to have the experience and optimal understanding of interpretation and drafting of policy matters.
A&A adopts an approach that demands the highest levels of knowledge, technical skill and service delivery allowing us to provide accurate, reliable, timely, and cost-effective advice while maintaining international standards of excellence and create a bespoke approach for every client and their business. Our commercial law solicitors unique perspective of working on our client’s matters as a critical part of their team allows us to address their problems like our own. We believe that each client comes with different requirements and concerns – and we work tirelessly to achieve their goals and pursue their objectives.
We make sure that our fee structure and the legal costs involved are very transparent and predictable for our clients. We believe that client relationships are based on trust and a sense of common purpose and we never falter on our promise making us one of the best corporate law firms in India. Our priority has been to deliver the best legal & business solutions and our fee arrangements are tailored to the needs of the client, the client’s goals, and the nature of the matter.
The distribution of assets is governed by Section 53 of the Insolvency and Bankruptcy Code, 2016. This section outlines a waterfall mechanism that distributes proceeds from sale of assets among various stakeholders based on a specified priority list.
The Corporate Insolvency Resolution Process (CIRP) can be initiated by any financial creditor or operational creditor, either individually or collectively. Additionally, the process can be initiated by the corporate debtor itself.
During the Corporate Insolvency Resolution Process (CIRP) or liquidation period, a moratorium is declared by the adjudicating authority. During this moratorium period, no judicial proceedings can be initiated or continued against the corporate debtor. Additionally, creditors are prohibited from realizing securities, terminating contracts, or entering any arrangements with the corporate debtor.
A&A boasts a team of experienced lawyers specializing in insolvency and bankruptcy matters. Our firm is well-equipped to advise clients on restructuring plans for their companies and can adeptly negotiate with creditors on their behalf. We provide representation for corporate debtors before adjudicating authorities such as the NCLT and NCLAT. Moreover, our services in this sector come with a transparent fee structure, ensuring cost-effective services to clients.
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