India enacted wide-reaching reforms in the area of insolvency and bankruptcy laws. The enactment of the Insolvency and Bankruptcy Code, 2016 (“the Code”) to overcome the shortcomings of the erstwhile legislation on the subject has had a significant impact even in the short term. Since the enactment of the Code in 2016, insolvency law in India has been one of the most active legal areas. We are one of Top Insolvency Law Firms In Delhi & Top Bankruptcy Law Firms In Delhi
Insolvency is the state of being unable to pay the money owed, by a person or company, on time; those in a state of insolvency are said to be insolvent.
Lawmax, Advocates & Solicitors adds Insolvency and Bankruptcy Services to its gamut of services. 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 areas of business.
Our services under this segment include:
- Advisory and Monitoring Services on Insolvency and Bankruptcy to Debtors, Creditors and other Insolvency Professionals.
Role and responsibilities as Interim Resolution Professional and Resolution Professional which includes:
- 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.
- Coordination with Information Utility, where required.
- Raise interim finance with the approval of Committee of Creditors
- Determining the Voting share of the Creditors
Lawmax, Advocates & Solicitors is one of the Best Insolvency Law Firms in Delhi NCR & Best Bankruptcy Law Firms in Delhi NCR. We have Top Bankruptcy Lawyers in Delhi.