CIRP initiation and defence, resolution plan evaluation, liquidation proceedings, pre pack framework and NCLT/NCLAT representation for debtors, creditors and resolution applicants.
Short, direct, on the record.
The minimum default threshold is INR 1 crore for both financial and operational creditors, raised from INR 1 lakh by notification dated 24 March 2020.
The statutory timeline is 180 days, extendable by 90 days (total 270 days). The Supreme Court in Essar Steel held that 330 days is the outer limit including litigation time, though delays are common in practice.
Only if the promoter is not disqualified under Section 29A. Disqualifications include wilful default, NPA classification for over one year, conviction for certain offences and connected person restrictions. MSME promoters have a carve out under the pre pack framework.
The IBC provisions for personal guarantors to corporate debtors (Part III) were notified on 1 December 2019. NCLT can admit applications against personal guarantors, and proceedings can run in parallel with the CIRP of the corporate debtor.
Share the entity details, creditor or debtor position and the current stage for a confidential preliminary assessment.