India's Landmark Insolvency Reform —
Time-Bound. Decisive. Transformative.
India revised its bankruptcy and insolvency resolution laws in the form of the Insolvency and Bankruptcy Code, 2016 ("Insolvency Code"). The Insolvency Code intends to complete all corporate insolvency resolution processes in a time-bound manner — a landmark reform that fundamentally transformed India's credit and debt resolution landscape.
The sluggishness of India's insolvency processes was one of the major reasons for its historically low position in the Ease of Doing Business Rankings of the World Bank Group. The Insolvency Code was enacted to redress this long-standing demand of the business and banking community in India, introducing strict timelines, a dedicated adjudicating authority (NCLT), and a market-driven resolution process.
Juris and Justice has significant expertise in IBC matters, representing financial creditors, operational creditors, corporate debtors, and resolution professionals before the National Company Law Tribunal across India.
Who We Represent
Financial Creditors
Banks, NBFCs, and lenders seeking to initiate CIRP or recover dues from defaulting corporate debtors.
Operational Creditors
Vendors, suppliers, and service providers pursuing recovery of operational dues under IBC.
Corporate Debtors
Companies facing insolvency proceedings, defending against creditor claims, or voluntarily winding up.
The CIRP Process — Key Stages
The Corporate Insolvency Resolution Process (CIRP) under IBC follows a strict time-bound framework:
Initiation of CIRP
Application filed before NCLT by financial creditor, operational creditor, or corporate debtor itself upon default of ₹1 crore or more.
Appointment of IRP / RP
Interim Resolution Professional (IRP) appointed within 14 days to manage the debtor company and take over its operations.
Committee of Creditors (CoC)
CoC constituted with all financial creditors to evaluate and approve the Resolution Plan within the 180-day window (extendable to 330 days).
Resolution Plan / Liquidation
If approved by 66% of CoC, resolution plan goes to NCLT for approval. If not resolved, company proceeds to liquidation.
How We Can Help You
Juris and Justice assists clients in all aspects of insolvency resolution under the IBC, 2016:
Initiation of CIRP — Financial & Operational Creditors
Initiating Corporate Insolvency Resolution Processes (CIRP) on behalf of financial creditors and operational creditors against defaulting companies — from demand notice to NCLT admission.
Defending Companies Against Insolvency Claims
Defending corporate debtors against claims of default by financial and operational creditors — including pre-admission settlements, challenging claims, and contesting CIRP admissions before NCLT.
CIRP Implementation Support
Assisting creditors and Insolvency Resolution Professionals (IRPs/RPs) in implementing CIRP processes — including CoC constitutions, claims verification, and resolution plan evaluation.
NCLT Representation
Comprehensive representation before the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) in all IBC-related proceedings.
Voluntary Winding Up
Assisting clients in voluntarily winding up their business in accordance with the provisions of the Insolvency Code — including creditor approvals, liquidator appointment, and asset distribution.
Forums & Tribunals
Facing an insolvency matter?
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