Dealing with financial stress is tough—no way around it. The Insolvency and Bankruptcy Code (IBC) provides a clear path forward. It’s clear, it’s structured, and it’s all about finding solutions that work. At Foresight Law Offices, the IBC sits at the heart of what we do. Whether you’re a creditor fighting for what’s yours, a company ready for a new start, or a resolution professional in the thick of things, we’re right there with you. We offer practical, tailored legal support every step of the way.
The IBC’s whole purpose is to bring order and fairness to what can be a messy process. It’s fast. It’s clear. And, honestly, it works. Still, the process itself? It can become complicated quickly—starting proceedings, dealing with the National Company Law Tribunal, creating resolution plans, and facing liquidation. We get it. Our team has seen it all, and we use that experience to help you move through each stage with confidence.
Here’s what we can do:
Corporate Insolvency Resolution Process: Based on the specific scenario, we will help financial or operational creditors start the IBC process and provide a debt-restructuring turnaround option for debtors.
Representation before NCLT & NCLAT: Our lawyers understand how these tribunals operate because we've done it before, and we can demonstrate the results we achieved. We'll represent you in proceedings and on appeals to ensure that your perspective is taken into account.
Resolution Plan Drafting & Negotiations: We draft and negotiate a resolution plan that is not just legally compliant but a practical resolution for all parties involved.
So what is the reason to work with us?
The IBC is more than just winding up or saving companies. Strategizing is an essential piece of the puzzle. We believe in clear timelines, bringing everyone to the table, and starting with the real and measurable options with revitalization potential for all involved. Our approach will combine the team's collaborative approach with years of practical knowledge.
A few things to keep in mind:
Time matters. The IBC is designed to get things moving so businesses can stabilize and hold onto their value.
Anyone involved can get things started—financial creditors, operational creditors, or corporate debtors.
Not everyone can lead the recovery. Section 29A keeps certain promoters out, so getting the right advice before you act is key.
Curious about how the IBC might apply to your situation—whether as a creditor, a debtor, or a professional? Get in touch. We’ll work it out together.
FAQ
What’s the point of the IBC?
It’s here to make resolving insolvency smoother, quicker, and fairer. Creditors get protection, and businesses get a shot at a turnaround or an orderly exit.
Who can start insolvency proceedings?
Financial creditors, operational creditors, and corporate debtors can all file under Sections 7, 9, or 10, as long as the paperwork’s in order and you have the right legal help.
How long does the resolution process take?
You’ve got up to 330 days, including any litigation, to finish the resolution.
Can promoters be part of the resolution process?
Sometimes, but Section 29A keeps some promoters out. It’s best to check with a lawyer about what’s possible in your case.
What happens if liquidation is ordered?
A liquidator steps in, sells the company’s assets, and distributes the money according to IBC rules. The idea is to close things out smoothly.
Bottom line:
The IBC has changed the game for resolving financial and corporate distress in India. But it comes with strict rules and tight timelines, so having a smart strategy and the right team really matters. At Foresight Law Offices, we do more than just give legal advice—we help you make smart business decisions and act quickly when you need to. Whether you want to turn a business around, recover your dues, or make a clean exit, our IBC team is here to protect your rights, unlock your value, and guide you every step of the way.
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