Problem · Solution · Result
IBC Insolvency Lawyer in Delhi
IBC is a time-bound process. Every day of delay has a cost.
200+
IBC Matters
₹2,000Cr+
Debt Resolved
85%
Resolution Success Rate
The Challenge — And Our Solution
The Insolvency and Bankruptcy Code 2016 transformed how corporate stress is managed in India. For financial creditors — banks, NBFCs, debenture holders — it provides a structured recovery mechanism with defined timelines and priority in distribution. For operational creditors, it is a credible collection tool. For promoters and resolution applicants, it is a regulated process requiring expert navigation. Corpus Juris Legal's insolvency practice covers all sides of the IBC process: filing CIRP applications at NCLT Delhi, representing creditors in the Committee of Creditors, advising resolution applicants, and handling liquidation matters.
- CIRP initiation — Section 7 (financial creditor) and Section 9 (operational creditor)
- Committee of Creditors representation and voting strategy
- Resolution applicant advisory — RFRP, resolution plan drafting
- Pre-pack insolvency (PIRP) for MSMEs
- Voluntary liquidation under Section 59 of the IBC
- Pre-insolvency restructuring — debt restructuring and settlement
Frequently Asked Questions
What is the minimum default to trigger CIRP under IBC?+
The minimum default threshold is ₹1 crore (raised from ₹1 lakh in 2020). The default must be by a corporate debtor and the applicant must be a financial creditor (Section 7) or operational creditor (Section 9).
What happens to management when CIRP is admitted?+
The Board is suspended and management vests in an Interim Resolution Professional (IRP), later replaced by a Resolution Professional appointed by the Committee of Creditors. Promoters lose operational control for the duration of CIRP.
Can a promoter submit a resolution plan for their own company?+
Promoters classified as wilful defaulters or convicted of certain offences are barred under Section 29A. Promoters of companies with completed CIRP or NPA for over a year are also ineligible. This is among the most litigated IBC provisions.
Speak to an IBC Specialist
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