IBC orders provides the consultancy to the Interim Resolution Professionals / Resolution Professionals / Resolution Applicants in various fields on chargable basis. The fee to be decided on case to case basis.
Some of the areas, where IBC orders is providing consultancy, are as under:-
Formation of Resolution Plan is the most important part of the Corporate Insolvency Resolution Process. Which include the determination of liquidation value of the Corporate Debtor. Resolution Plan is defined u/s 5(26) of the Insolvency and Bankruptcy Code 2016 as under:
"Resolution Plan" means a plan proposed by any person for Insolvency Resolution of the Corporate Debtor as a going concern in accordance with Part II of the Code.
Regulation 38 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 states the mandatory contents of the Resolution Plan.
Our dedicated team of Experts helps to the Members of Committee of Creditors and other Resolution Applicants in formulating the Resolution Plan as per provisions of the Insolvency and Bankruptcy Code 2016 for assessing the financial viability of the Corporate Debtor.
Need support in Drafting Resolution Plan CLICK HERE.
Information Memorandum is the important part of Corporate Insolvency Resolution Process
Information Memorandum contains various details about the Corporate Debtor who is under Corporate Insolvency Resolution Process to enable the resolution applicant to prepare and submit the resolution plan.
As per Insolvency and Bankruptcy Code, 2016, it is the duty of Interim Resolution Professional / Resolution Professional to prepare the information memorandum.
Regulation 36 of the Insolvency and Bankruptcy Board of India (Insolvency resolution process for Corporate Persons) Regulations, 2016 deals with the Information Memorandum.
Our team of experts assists the Interim Resolution Professional / Resolution Professional to prepare the Information Memorandum under the provisions of Insolvency and Bankruptcy Code, 2016.
For Consultancy CLICK HERE.
We have a team of Experts which includes Chartered Accountants, Company Secretaries, Cost Accountants, Advocates, Registered Valuers, Engineers, etc. We provide all legal and consultancy services under Insolvency and Bankruptcy Code, 2016.
Our experts advise the clients on a broad spectrum of Corporate Insolvency and focus their energies on finding viable and sustainable solutions, be bespoke to a client's needs and requirements
Our scope of work includes advising our clients on how to file an Application with NCLT / NCLAT, where to file an application, which authority to be approached, how to approach, etc.
Due to our legal, commercial and multi dimensional approach, we have successfully dealt with many complex issues and have developed long term relationship with our clients.
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We provide assistance to Resolution Professionals in all type of Secretarial Work, as required by the Insolvency and Bankruptcy Code, 2016,which includes:-
Publish public announcement in various Newspapers: The Resolution Professional has to make a public announcement immediately on his appointment as an Interim Resolution Professional as per Chapter III of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Public Announcement has to be published in one English and one regional language newspaper.
We help in making Public Announcement as per the guidelines of the Code.
Drafting Agenda of the Meeting: The Agenda is pivotal for any meeting as without a proper agenda convening meeting will be in vain. Our team of experts assists in drafting agenda of the meeting of Committee of Creditors so that no important discussion point is missed out.
In drafting agenda points to be included as per the Code are list of matters to be discussed at the meeting, a list of the issues to be voted upon at the meeting and copies of all documents relevant to the matters to be discussed and the issues to be voted upon at the meeting.
Notice of Meeting: The regulations of Chapter VI of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 prescribe that:-
Atleast Seven days notice in writing to be served to every participants for calling any meeting of Committee of Creditors.The Notice may be served either by hand delivery, by post or by electronic means. Electronic means include e-mail as a text or as an attachment to e-mail or as a notification providing electronic link or Uniform Resource Locator.
Code further prescribes the contents of the notice of the Meeting, which are as under:-
copies of all documents relevant to the matters to be discussed and the issues to be voted upon at the meeting We assist in preparing a notice and sending by appropriate means. The notice shall include venue, time, date of the meeting, option available to participate through video conferencing or other audio and visual means, provide agenda of the meeting, process and manner of voting and so on.
Minutes of the Meeting: As per provisions of Chapter VI of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 a resolution professional has to ensure that minutes are made in relation to each meeting.The minutes shall be circulated to all participants by electronic means within forty-eight hours of the said meeting.
We provide assistance in preparing minutes which shall also disclose the particulars of the participants who attended meeting in person, through video conferencing, or other audio and visual means.
Preparation of Action Taken Report based on decisions taken during the meetings.
Preparation of Information Memorandum:An Information Memorandum is being prepared as per Regulation 36 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Information Memorandum includes following details of the Corporate Debtor:
Our team of professionals is assisting the Resolution Professionals in Preparation of Information Memorandum.
To correspondence with Bank and Statutory Authorities regarding initiation of Corporate Insolvency and ensure compliance of the Code.
Other secretarial work related to Corporate Insolvency Resolution Process
For Secretarial Assistance CLICK HERE.