INSOLVENCY CONSULTANCY

Insolvency Consultancy Services

Introduction of Insolvency bankruptcy code,2016 gives a new avenue to the professionals for the insolvency resolution practice. For many creditors this code has come as a boon while for debtors it proved to be a bane.

Key Servcies to various characters under IBC

We at PRANV Advisors have a team of professionals who will provide the services as under:

For Corporate Debtors (CD):

Planning and strategizing due diligence of corporate debtor and advise them appropriate action where in any financial or operational creditor file application U/s 7 or U/s 9

Drafting reply to the notice of demand issued by Operational Creditor.
Analyzing various provisions of law and validity of application filed against corporate debtors.
Appearance before NCLT / NCLAT to contest the admission of application for Corporate resolution insolvency process.
Updating secretarial records of Corporate debtors and conduct secretarial due diligence.
Advising corporate debtor under different provisions of the Code.
Analysing and assisting Corporate debtor to file application u/s 1

For Financial Creditors (FC):

Strategizing on application to be filed by the financial creditor under section 7 and preparing and drafting application to get the resolution on corporate debtors

Drafting application under Sec. 7 of the code.
Analysing and collection of information from information utility and other evidence on record to substantiate default made by corporate debtor.
Appearance before NCLT and NCLAT on behalf of financial creditor to get the application admitted.
Filing claims on behalf of FC for corporate Debtor under CIRP.
Represent FC in committee of creditors
Analyse resolution plan and advise FC on different aspects.

For Operational Creditors (FC):

Advising appropriate action to the unsecured and operational creditors in respect of their dues not paid by the corporate debtors:

Analysing whether an application U/S 9 can be filed.
Issue of demand notice U/s 8 to the corporate debtors,
Appearance before NCLT and NCLAT on behalf of operational Creditor to contest for admission of the application.
Filing of claim of operational creditors including for workmen and employees.

For Interim Resolution professional (IRP):

Assisting the Interim Resolution Professional to perform his duties with due diligence

Drafting the notice for calling of claims
Drafting the public announcement covering provisions of code
Verification of claims
Assistance in day-to-day management of the company
Assistance in conducting meeting of committee of creditors.
Filing of various application, forms, and progress report before various regulatory authority.

For Resolution Professional (RP):

Assisting the Resolution professional to comply with his duties under Insolvency and Bankruptcy code 2016 and regulations therein.

Advisory on different rules and regulations of the code.
Opinion on the various agreement and contracts entered by IRP with external advisor and consultants.
Updating and verifying claim of creditors.
Diligence on eligibility of Resolution applicant
Preparing information memorandum and evaluation matrix.

For Resolution Applicant (RA):

To advise promoters and other prospective applicants on distressed assets and formulate strategy to be ahead from others.

Strategizing, conceptualizing, planning on the bid for corporate debtor.
Feasibility study and analysis for the preparation of resolution plan
Writing resolution plan for the resolution applicant.
Negotiating with the committee of creditors and financial creditors.
Conducting techno economic feasibility study.

Safeguard under IBC 2016:

Reviewing creditors arrangements, agreements and transactions, terms of invoices, interest free advances, employee agreements etc.
Review the contracts and sub-contracts between Company and other parties and advise on their enforceability.
General advisory in relation to Insolvency and Bankruptcy Code, 2016 and related laws.
Training to staff and making SOP to avoid any notice from operation creditors. A dispute must be pre-existing on the date of notice and should be on record.

INSOLVENCY CONSULTANCY