Corporate Insolvency

SIPL provides the entire Spectrum of Solutions to Banks, Financial Institutions, Bondholders, Debenture Holders and Corporate Debtors to validate the financial viability for a given corporate entity that stare financial stress in operation or may be on the verge of bankruptcy. We assess the viability of the Corporate Debtor and formulate relevant strategies to transform the business environment to restructure, revive and turnaround such entities. Further, as Insolvency Professional Entity, SIPL provided the entire gamut of Support Services to the Interim Resolution Professional & the Resolution Professional who are enrolled as a member of an Insolvency Professionals Agency (IPA) and are registered with Insolvency and Bankruptcy Board of India respectively as envisaged for Corporate Insolvency Resolution Process under the Insolvency & Bankruptcy Code, 2016 and the Insolvency And Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016.

The key deliverables include –

1. To appraise on the corporate insolvency resolution process for the Corporate Debtor with all stakeholders including the Committee of Creditor’s, other Creditors, Directors of the Suspended Board, Key Managerial Personnel, Statutory Authorities, Auditors and Employees.
2. To appoint professionals and experts at the behest of the Committee of Creditors such as Registered Valuers for Valuation of the Corporate Debtor; Transactional Auditors for determination of avoidable transactions u/s 43, 45, 50 and 66 of the Code, Lawyers and other professional as may be required to conduct the CIRP for the Corporate Debtor.
3. Claim Verification- As an IPE, SIPL specialises in Validation of Claims towards the Corporate Debtor.The activity include-
   
   1. Issue Public Notice inviting Claims
   2. Receive claims of financial creditors, operational creditors, workmen and employees, claims for statutory dues among other things.
   3. Collate, seek further explanation/ documents from respective claimants for validation of claims;
   4. Collate, verify and admit or reject claims with regards to category (secured or unsecured), priority u/s 53, determination and verification of security interest, inter-creditor arrangement over security interest
   5. Constitute Committee of Creditors and file a requisite report to Adjudicating Authority
   6. Assure physical and digital record keeping of claim documents to assure faster and correct retrieval as and when required.
4. Preparation of Information Memorandum, Evaluation Matrix, RFRP for the Corporate Debtor, Conduct Meeting of Committee of Creditors and appraisal of the proceedings the corporate insolvency resolution process with the Adjudicating Authority by way of Progress Report from time to time.
5. Examination and Validation of Resolution Plans for the deliberation of Committee of Creditors & Hon’ble NCLT Bench.
   Similar services would also be provided in the case of Insolvency Resolution Process of Individuals, Proprietorship Concerns and Partnership Firms.