Resolution process for IBC

INSOLVENCY JURIS offering consultation and services for Companies regarding RESOLUTION PROCESS FOR IBC in PAN India,

As per section 5(26) of the IBC, "Resolution Plan" means a plan proposed by any person for insolvency resolution of the Corporate Debtor as a going concern. A Resolution Plan is prepared on the basis of the information Memorandum given by the Resolution Professionals.

A Resolution Plan shall identify particular sources of funds that will be used to cover the following:

The Insolvency Resolution Process costs.

The Liquidation Value which is due to the Operational Creditors.

The Liquidation Value outstanding to dissenting Financial Creditors.

Our team of Experts will help the Resolution applicant to prepare an appropriate Resolution Plan for the business entity.

We also provide secretarial assistance with the secretarial work to the Resolution Professionals. These services include the following:

Publishing the public announcement in newspapers as per the guidelines of the Insolvency and Bankruptcy Board of India Regulations (Insolvency Resolution Process for Corporate Persons), 2016.

Formulating / drafting the Agenda for the Meeting of Committee of Creditors. The agenda is prepared by our team of experts as per IBC 2016.

We provide legal assistance to our clients through empanelled advocates for initiating the Insolvency Resolution process. We have established associations with reputed Legal Firms to undertake cases with NCLT Benches. All the needs of the client with regard to making an application with NCLT / NCLAT are taken care of.

Preparation and sending of the Notice of Meeting by appropriate means. Our team prepares the notice as per the guidelines of the Insolvency and Bankruptcy Board of India Regulations (Insolvency Resolution Process for Corporate Persons), 2016.

Preparation of the Minutes of the Meeting.

Prepare the Action Taken Report which is based on the decisions taken during the previous meetings.

Compile the Information Memorandum as per the Insolvency and Bankruptcy Board of India Regulations (Insolvency Resolution Process for Corporate Persons), 2016. The Information Memorandum contains the financial particulars of the Corporate Debtor.

Correspondence with Banks and Statutory Authorities regarding the initiation of Corporate Insolvency. Our team ensures that there is complete compliance of the IBC 2016.

Other additional support such as arranging Valuers for valuation of assets of corporate debtors, security agencies for safe guarding the physical assets of the Corporate Debtor and E-voting / IT Support are also provided by us.