Insolvency Lawyer India (IBC 2016)
Expert Consulting — Serving Clients Across India
Expert Insolvency Lawyer Services Under IBC 2016
The Insolvency and Bankruptcy Code (IBC) 2016 transformed debt recovery and corporate restructuring in India. An insolvency lawyer guides creditors, debtors, and resolution professionals through every stage of the process — from initial petition filing to resolution plan approval or liquidation. Accorg Consulting's insolvency lawyers have handled 500+ IBC matters across India, making us one of the most experienced insolvency law firms in the country.
Whether you are a bank trying to recover an NPA, an operational creditor with unpaid invoices, a company seeking voluntary insolvency, or a resolution applicant bidding for a stressed asset — our insolvency lawyers provide specialized representation tailored to your position.
Why Accorg Consulting for Insolvency Law?
- CA + Legal Dual Expertise: CA Harshaditya Kabra brings Chartered Accountancy skills to evaluate financial statements, balance sheets, and resolution plans with precision — a rare advantage in insolvency matters.
- All Stakeholder Representation: Financial creditors, operational creditors, corporate debtors, IRP/RP, resolution applicants, and liquidators.
- Resolution Plan Drafting: We draft commercially viable, NCLT-compliant resolution plans for resolution applicants.
- Pre-IBC Advisory: Evaluate whether CIRP or out-of-court restructuring (OTS, One Time Settlement) is better for your situation.
Insolvency Legal Services — Full Coverage
For Financial Creditors (Banks, NBFCs, Debenture Holders)
- Section 7 petition filing before NCLT
- Proof of claim filing (Form C)
- Committee of Creditors (CoC) representation
- Evaluation of resolution plans
- Liquidation proceedings and asset recovery
- NCLAT appeals against unfavorable NCLT orders
For Operational Creditors (Vendors, Suppliers, Employees)
- Demand notice under Section 8 (IBC)
- Section 9 petition filing
- Claim filing during CIRP (Form B/D)
- Prepack insolvency for MSMEs (Section 54A-54P)
For Corporate Debtors
- Section 10 voluntary insolvency application
- Defense against Section 7/9 petitions
- Pre-packaged insolvency (PPIRP) for MSMEs
- OTS negotiations to avoid CIRP
- Section 12A settlement (with 90% CoC approval)
- Liquidation — complete asset disposal
For Resolution Applicants
- Eligibility assessment (Section 29A compliance)
- Resolution plan drafting and structuring
- Due diligence support
- Plan submission and CoC negotiation
- NCLT approval hearings
IBC 2016 — Key Timelines We Manage
| Stage | Statutory Timeline |
|---|---|
| CIRP commencement (after NCLT admission) | Immediate (IRP appointed within 14 days) |
| Public announcement | Within 3 days of IRP appointment |
| Claim submission deadline | 30 days from public announcement |
| Constitution of CoC | 30 days from IRP appointment |
| Resolution plan submission deadline | Under 180 days (extendable to 270) |
| Liquidation (if no plan approved) | After 270 days |
Frequently Asked Questions — Insolvency Lawyer India
What is the difference between CIRP and Liquidation under IBC 2016?
CIRP (Corporate Insolvency Resolution Process) is the resolution mechanism where creditors try to revive the company through a viable resolution plan. Liquidation is the last resort — if no plan is approved within 270 days, the company's assets are liquidated and distributed to creditors in a priority waterfall. CIRP aims at maximizing value; liquidation maximizes recovery speed.
As an operational creditor, can I recover dues under IBC?
Yes. Operational creditors (vendors, suppliers, contractors) with unpaid dues ≥ ₹1 crore can file a Section 9 petition after serving a 10-day demand notice. Accorg's insolvency lawyers have a high success rate in operational creditor CIRP matters, especially for undisputed invoices.
What happens to my secured assets during CIRP?
During CIRP, the moratorium (Section 14) prevents creditors from enforcing security or filing new suits. Secured creditors participate through the CoC. Under a resolution plan, secured creditors generally receive higher priority recovery. Liquidation provides security enforcement for the highest priority secured creditors first.
Can a company avoid CIRP after an admission order?
Yes — under Section 12A of IBC, the corporate debtor can settle with the applicant and withdraw the CIRP petition, but this requires 90% voting share approval of the CoC. Pre-admission settlement (between filing and admission) requires only mutual consent and court approval. Our insolvency lawyers specialize in such settlement negotiations.
What is Pre-Packaged Insolvency (PPIRP) for MSMEs?
PPIRP (Section 54A-54P) is a faster, less disruptive insolvency process for MSMEs. The company negotiates a resolution plan with its creditors BEFORE filing at NCLT. Once approved, it's faster and less public than full CIRP — ideal for viable businesses seeking restructuring without stigma.