Home›Services›NCLT & Insolvency
Practice Area
Tribunal & Insolvency

🏛️ NCLT & Insolvency

Navigating Insolvency. Protecting Stakeholder Interests.

📅 Book a Free Consultation
Practice Overview

Our NCLT & Insolvency Practice

The Insolvency and Bankruptcy Code 2016 has transformed India's insolvency landscape. Our NCLT & Insolvency practice advises financial creditors, operational creditors, corporate debtors, resolution applicants and insolvency professionals on all aspects of insolvency proceedings, NCLT litigation and corporate resolution.

Why Tamvada & Associates?
  • Specialist lawyer-led practice
  • 40+ years combined experience
  • Transparent, fixed-fee billing
  • Virtual consultations available
  • NRI & cross-border expertise
  • Strict client confidentiality
📅 Book a Free Consultation

Free initial consultation · No obligation

What We Handle

Scope of Our NCLT & Insolvency Services

📋
CIRP Applications

Filing and defending Corporate Insolvency Resolution Process (CIRP) applications under Sections 7, 9 and 10 of the IBC — representing financial creditors, operational creditors and corporate debtors.

🔄
Resolution Plan Advisory

Advising resolution applicants on plan structure, compliance with IBC requirements, haircut negotiations, implementation milestones and the approval process before the CoC and NCLT.

🏢
Liquidation Proceedings

Advising liquidators, creditors and stakeholders in liquidation proceedings — asset sale advisory, waterfall distribution, proof of debt filings and representation in liquidation disputes.

👤
Personal Insolvency (PIRP)

Advisory and representation in Personal Insolvency Resolution Process (PIRP) applications against individuals and Personal Guarantors under the IBC's personal insolvency framework.

🏛️
NCLT Litigation

Representation in NCLT proceedings — oppression and mismanagement petitions (Sections 241-242), winding-up petitions, class action suits and appeals before NCLAT.

⚡
Pre-Insolvency Structuring

Advisory on pre-insolvency options — out-of-court settlements, one-time settlements, restructuring under the IBC's pre-packaged insolvency resolution process (PPIRP) for MSMEs.

Frequently Asked Questions

NCLT & Insolvency — Questions Answered

Common questions about nclt & insolvency in India. Book a consultation for specific advice.

What is the threshold for filing an insolvency petition against a company?+
A Financial Creditor can file under Section 7 if the minimum default is ₹1 crore. An Operational Creditor can file under Section 9 if the default exceeds ₹1 crore and the creditor has issued a demand notice to which no satisfactory reply has been received. The corporate debtor can also voluntarily initiate CIRP under Section 10.
What is the moratorium in CIRP and what does it mean?+
Upon admission of a CIRP application, the NCLT declares a moratorium under Section 14. During the moratorium: no suits or proceedings can be instituted against the corporate debtor; no enforcement actions can be taken; no security interests can be enforced; and no transfer of assets can occur.
What are the timelines for CIRP completion?+
CIRP must be completed within 180 days (extendable by 90 days with NCLT approval and CoC consent of 66%+ vote share). Including extensions, the outer limit is 330 days. The NCLT and Supreme Court are increasingly strict about adherence to timelines.
Can a personal guarantor be proceeded against during the debtor's CIRP?+
Yes. The IBC's personal insolvency framework allows creditors to initiate proceedings against personal guarantors concurrently with or after the CIRP against the corporate debtor. The Supreme Court in Lalit Kumar Jain (2021) confirmed that approval of a resolution plan does not extinguish the liability of personal guarantors.
What is the PPIRP for MSMEs?+
The Pre-Packaged Insolvency Resolution Process (PPIRP) is a faster process designed for MSMEs — allowing a corporate debtor to negotiate a resolution plan with creditors before formally initiating insolvency, keeping management in control during the process. PPIRP must be completed within 120 days.
Knowledge Centre

Related Insights

Insights on nclt & insolvency from our team.

📚
Knowledge Centre Coming Soon

Content on nclt & insolvency will appear here once published.

Knowledge Centre →Blog →
← Back to All Practice Areas