Insolvency and bankruptcy laws in India were ancient and archaic, and in order to improve the business environment and alleviating distressed credit markets, the Government introduced the Insolvency and Bankruptcy Code,2016.
Our Insolvency& Bankruptcy practice includes advising on the Insolvency and Bankruptcy Code, particularly on the restructuring and insolvency process contemplated therein. We aid in drafting, negotiating and finalizing relevant transaction documents, including applications, petitions and resolutions.We work closely with insolvency professionals and other stakeholders, including financial and operational creditors and corporate debtors, toprepare schemes of arrangement in relation to proceedings before the National Company Law Tribunals across the country, and the National Company Law Appellate Tribunal.
We, at Probus Legal, comprehensively advise clients in distress on corporate restructuring and business reorganization too. Our restructuring practice includes preparation of a scheme for formal restructuring and its implementation through court or tribunal, while under informal restructuring, we assist our clients through corporate Debt Restructuring (CDR) process, meetings of Joint Lenders Forum (JLF), Strategic Debt Restructuring (SDR) as well as in Scheme for Sustainable Structuring of Assets (S4A).