Restructuring & Insolvency​

Business restructuring law firm

Ahlawat & Associates has developed significant expertise in restructuring and insolvency law. The firm regularly advises lenders, reconstruction companies, distressed asset funds and borrowers, creditors in restructuring and refinancing debts. We also advise several clients on the corporate insolvency resolution process under the principal statute i.e., the Insolvency and Bankruptcy Code, 2016 (“Code”).

In India, restructuring transactions necessitate commitment and investment of time during the planning stage. In order to achieve the intended corporate objectives numerous strategic, operational, legal, tax, and economic challenges must be identified, honed, and balanced in most restructuring transactions.

As a full-service law firm, A&A offers its clients top-notch service by leveraging our experience in a variety of practice areas. From early stress identification to restructuring through court procedures, A&A is one of the top restructuring law firms that provides clients end-to-end solutions across the corporate restructuring space.


In the space of insolvency and restructuring, A&A has a sizeable and well-rounded practice that includes both litigation and non-litigation practice. Our in-depth and comprehensive strategies encompass an extensive spectrum of challenges that distressed companies encounter during restructuring.


The firm attains a clear insight into the expectations and requirements of both parties involved in a transaction and offers tailored advice to each client’s needs. A&A is lauded for its accessibility and its capability to work well with global firms and clients that require assistance in business and corporate restructuring laws.

We leverage our skills in our corporate, financial and dispute resolution practices to provide our clients with efficient and seamless legal services. A&A has been appreciated for its comprehensive and practical approach towards litigation and asset recovery. In addition to formal restructuring under statutes and regulations, the firm’s advice also extends to informal restructuring initiated by lenders.

Our qualified and dedicated team of lawyers, having had the opportunity to tackle numerous challenging transactions in India, have significant experience in financial and corporate restructuring. Our lawyers are dual qualified (in India and the US and/or the UK) and successfully draw on their prevalent experience in distinctive situations that arise under the Indian laws.

Our team works to protect businesses or investments and maximize recovery. Yet, if a client’s condition cannot be alleviated through a recovery platform, our team continues to map out avenues that can help clients navigate the insolvency resolution process. A&A has extended advice on some of the most complicated restructurings and takes pride in offering unconventional solutions concluding with concrete business results.

A&A’s team of proficient lawyers regularly engage with the clients to apprise them of commercial and regulatory developments that may have an impact on their business. The firm has and continues to build its reputation on having a hands-on approach and working closely with the clients. This, coupled with our notable experience, ensures that we achieve the desired results and navigate through the intricate legal landscape in India.

1. Which act governs corporate restructuring in India and what are its objectives?

Formal restructuring proceedings in India are regulated and governed by the Insolvency and Bankruptcy Code, 2016. The Code unifies and modifies the laws governing the timely reorganization and insolvency resolution of corporations, partnerships, and individuals in order to maximize the value of those individuals’ assets, encourage entrepreneurship, increase credit availability, and strike a balance between the interests of all parties involved.

2. What is Corporate Insolvency and Corporate Insolvency Resolution Process (CIRP)?

A corporate person enters into a condition of insolvency when they are unable to pay their debts when they are due and payable, in full or in part.

CIRP is the procedure used to resolve a corporate debtor’s insolvency in compliance with the Code.

3. Who can initiate CIRP?

Financial creditors under Section 7, operational creditors under Section 9, and corporate applicants of corporate debtors under Section 10 of the Code may all initiate the CIRP proceedings.

4. What is the time limit within which the CIRP should be completed?

According to Section 12(1) of the Code, CIRP must be completed within 180 (one hundred and eighty) from the date of admission of such application to initiate the proceedings. Further, the adjudicating authority has the discretion to issue a one-time extension of 90 (ninety) days. Including any extensions or litigation periods, the maximum amount of time that must be allotted for the completion of CIRP is 330 (three hundred and thirty) days.

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