Insolvency Consultants In India ( Bad debts Recovery)

  • Documentation & Consultancy
  • Issue Notice Corporate Debtor
  • Filing of your matter with NCLT
  • Appear at NCLF For Hearing
  • Fees Starts at 10000/-

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    Insolvency And Bankruptcy Consultancy

    Insolvency and Bankruptcy Code objective is solve Insolvency matters with transparency and within certain time frame. For creditors this Act is more helpful to recover old due , bad debts from the Private Limited / Public Limited company. When a Corporate in unable to meet outstanding financial, operational or any other debt/liability towards its lenders and supplier it become Insolvent. Under Insolvency And Bankruptcy Code, 2016 Corporate debtors where amount is receivable is more than Rs. 1 lac has option to file Insolvency petition against the Corporate Creditor.


    We provide Insolvency And Bankruptcy Consultancy services in Pune,Mumbai,Nashik& Aurangabad. With our dedicated team we can help you to recover your financial & Operational debt from corporate creditor. We can accurately asses your business situation and help you to form right strategy to recover due.

    Recovery Of Financial And Operational Debt

    Insolvency And Bankruptcy

    Eligibility

    Who owes dues more than Rs. 1 lac from Corporate Creditors

    Section 7

    Homebuyers, Financial Institutions, Banks etc. (They all are termed as Financial Creditors) .

    Section 9

    Employees, Traders, Manfacturers (They all are termed as Financial Creditors).

    Key Points for Insolvency And Bankruptcy


    • Minimum Amount Due is More than 1 Lac
    • Apply in 3 years from the date when the debt has become due
    • Homebuyers , Banks, Employees, Traders, Manufacturers can apply
    • Total time-frame appx 6 Months
    • Total time-frame appx 6 Months

    Check List of Documents for For Recovery Of Financial And Operational Debt

    pancard

    Demand Notice From 3&4

    agreement

    Ledger Accounts

    Board Resolution

    Invoices Copies

    KYC

    Bank Statement

    activity

    Affidavit

    hierarchy

    Email Copies

    declaration

    Notice Copy

    What We Offer in Insolvency And Bankruptcy Consultancy

    Consultancy

    Issue Notice to Corporate

    File Application at NCLT

    Follow Up

    Recovery of Financial and Operational debt

    Legal Process flow for recovery of Dues Under IBC

    1.Issue Notice to Corporate Debtor

    Under IBC 2016 Issue notice to debtor in prescribed format along with supporting invoices

    2.Corporate Debtors Get minimum 10 days time

    Corporate debtor need to respond to notice within given time frame .

    3.No Reply from Debtor Apply NCLT

    If there is no response from Debtors apply to National Company Law Tribunal

    4.NCLT Appoints Insolvency Professional IRP

    Once the application is admitted, NCLT appoint Interim Insolvency Professional (IRP)

    5. IRP Collect Information

    IRP shall collect necessary claims, information, form Committee of Creditors and draft a resolution plan

    6. IRP Collect Information

    RP shall collect necessary claims, information, form Committee of Creditors and draft a resolution plan.

    7. liquidate Company

    If first plan is not approved by NCLT then Resolution professional shall apply for company liquidation

    Send me all information about Insolvency And Bankruptcy

      Email Address

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      FAQ - FAQ on INSOLVENCY AND BANKRUPTCY CODE, 2016

      1. Who Can Apply for corporate insolvency resolution for default of payment ?
      • A financial creditor or • Jointly Financial creditors May file for application for initiating corporate insolvency resolution process against a corporate
      2. What is time line for Corporate company to reply Notice of Creditors ?
      Notice of creditors is valid for 10 day for taking response from corporate
      3. Whats is point of action by corporate after receipt of Notice for Recovery of funds ?
      Corporate debtor need to bring to notice of creditors below points 1. Existence of dispute if any with amount due 2. sending an attested copy of the record of electronic transfer
      4. Financial creditor meaning Under The Insolvency And Bankruptcy Code, 2016 ?
      "Financial creditor" means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred.
      What Is Meaning Of "Dispute Under The Insolvency And Bankruptcy Code, 2016 ?
      "Dispute" includes a suit or arbitration proceedings relating to— (a) the existence of the amount of debt; (b) the quality of goods or service; or (c) the breach of a representation or warranty;
      When does the Insolvency and Bankruptcy Code (IBC) apply?
      • Minimum default of Rs. 1 Lac • Make application of NCLT • financial creditors and operational creditors can apply
      Who bears the cost of Insolvency And Bankruptcy Resolution process?
      Applicant creditor who would incur the expenses of the Resolution Professional which is otherwise known as Resolution Costs.

      Let's Start my Bad Debts Recovery

      Consultancy | Legal Documents | Recovery