Insolvency and Bankruptcy Code,2016

India enacted wide reaching reforms in the area of insolvency and bankruptcy laws. The enactment of Insolvency and Bankruptcy Code, 2016 (“the Code”) to overcome the shortcomings of the erstwhile legislation on the subject and the same has had a significant impact in short time span. Since the enactment of the Code in 2016, insolvency law in India has been one of the most active legal areas to research and litigate.

The Code has allowed financial creditors to have a significant role in company, created opportunities for investment for investors and led to significant litigations between parties. It has impacted various industrial sectors, ranging from real estate to the FMCGs.

The team at Lex Unified supports clients with advisory as well as litigation services. The strong expertise in core commercial and corporate laws, coupled with the understanding of various business sectors enables the firm to deliver holistic and effective guidance to its clients.

The team at Lex Unified has been involved in several matters involving the Insolvency and Bankruptcy Code, 2016 representing both, creditors as well as corporate debtors (and Insolvency Professionals) before various NCLTs stationed in different states across India and the NCLAT. Our team has rendered advisory and consultancy services to creditors on various potential issues that could arise as a result of the interplay between the Code and other applicable laws such as the Commercial Courts Act, 2015. Our team has also initiated insolvency resolution process and sought relief (interim and final) before the NCLT and NCLAT on behalf of clients.

The team is also well-positioned to deliver strategic advice to asset reconstruction companies. The team aids and advices its clients in matters of tax assessment/ planning, and assets and liabilities valuation including risk assessment.

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