Protecting foreign creditors in Indian insolvency and cross-border proceedings.
A foreign creditor of an Indian company can participate in the corporate insolvency resolution process under the Insolvency and Bankruptcy Code 2016 on the same footing as a domestic creditor - filing claims, sitting on the committee of creditors where it is a financial creditor, and sharing in the resolution or liquidation. A foreign operational or financial creditor can also trigger the process against a defaulting Indian company.
India has not yet adopted a full cross-border insolvency framework, so recognition of foreign proceedings depends on the Codes limited provisions and bilateral arrangements. AMLEGALS advises foreign creditors on initiating or participating in Indian insolvency, protecting and maximising recovery, and navigating the interaction between Indian insolvency and parallel foreign proceedings.
Establishing whether the foreign creditor is a financial or operational creditor and its rights.
Filing to trigger the corporate insolvency resolution process against a defaulting Indian company.
Preparing and proving the claim before the resolution professional.
Representing the creditor on the committee of creditors and in the resolution plan process.
Advising on strategy to maximise recovery through resolution or liquidation.
Coordinating with parallel foreign insolvency or restructuring proceedings.
Yes. A foreign financial or operational creditor can trigger the corporate insolvency resolution process against a defaulting Indian company and can file and prove claims, on the same basis as a domestic creditor. AMLEGALS advises on and conducts the process.
India has not yet enacted a comprehensive cross-border insolvency framework. Recognition currently depends on the limited provisions of the Code and any bilateral arrangements, so coordination between Indian and foreign proceedings must be managed carefully, which AMLEGALS does.
By classifying the claim correctly, participating effectively in the committee of creditors where eligible, scrutinising the resolution plan and, where appropriate, pursuing avoidance and recovery actions. AMLEGALS drives the strategy to protect the foreign creditors position.
No. No engagement is treated as accepted until conflicts, scope and terms are confirmed in writing. An initial discussion is confidential and is used only to understand the matter and assess fit.
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