Services under NCLT

1. Insolvency and Bankruptcy
• Advising on Insolvency Process: Guide companies or creditors through the insolvency and bankruptcy process under the Insolvency and Bankruptcy Code (IBC). This includes advising on whether a company should enter into the insolvency resolution process.
• Filing for Corporate Insolvency Resolution Process (CIRP): Assisting in filing an application for initiating the Corporate Insolvency Resolution Process (CIRP) before the NCLT. This is particularly relevant when a company is unable to pay its debts and requires resolution.
• Interim Resolution Professional (IRP): Acting as an Interim Resolution Professional (IRP) or Resolution Professional (RP) in the insolvency process. A CS with the requisite qualification and experience can take up this role, managing the company’s affairs during the resolution process.
• Corporate Debtors and Creditors Advisory: Advising debtors and creditors on their rights and obligations during the insolvency proceedings.

2. Mergers and Acquisitions (M&A)
• Mergers, De-mergers, and Amalgamations: Guidance and Assistance with the procedural aspects of mergers, de-mergers, and amalgamations, filing applications for the approval of schemes before the NCLT, and ensuring all required documentation is provided.
• Due Diligence: Conducting a thorough due diligence process to ensure that a company is compliant with all regulatory requirements and that all financial records and legal obligations are in order before a merger or acquisition.
• Approval of Schemes: Assisting clients in preparing and filing the scheme of arrangement or compromise with the NCLT, which is required for the merger, de-merger, or acquisition process.

3. Compromise and Arrangements
• Filing for Compromise and Arrangement Schemes: Assist companies in proposing and filing schemes of compromise or arrangements under sections 230-232 of the Companies Act, 2013 before the NCLT.
• Approval of Schemes: Facilitating the process of obtaining approval from shareholders, creditors, and the NCLT for the compromise or arrangement. We ensures that the necessary resolutions are passed and all filings are made accurately.

4. Winding Up and Liquidation
• Voluntary Winding Up: Assist clients in filing applications for voluntary winding up before the NCLT, following the resolution passed by shareholders. This process involves the appointment of a liquidator to wind up the company’s affairs.
• Compulsory Winding Up: In cases where the company is facing compulsory liquidation under NCLT’s direction, guide the company through the entire winding-up process.
• Liquidation Proceedings: If a company is facing liquidation, Assistance in representing the company and ensuring all legal processes are followed, including the sale of assets, distribution of proceeds, and ensuring compliance with NCLT orders.

5. Appeals and Litigation Support
• Representing Clients Before NCLT: Represent companies, creditors, or stakeholders in proceedings before the NCLT. This includes advocating for the company’s position in matters related to insolvency, liquidation, and corporate governance issues.
• Filing Appeals: If a decision made by NCLT is not favourable to the client, assist in filing an appeal to the National Company Law Appellate Tribunal (NCLAT) and follow up on the proceedings.
• Interim Relief Applications: Assisting in filing applications for interim relief or urgent directions from NCLT in situations where immediate actions or reliefs are required.

6. Corporate Governance and Compliance
• Ensuring Compliance: Advising and ensuring that companies comply with corporate governance norms and regulatory requirements under the Companies Act, 2013, especially when matters are referred to NCLT.
• Filings and Documentation: Preparing and filing necessary documents and petitions before NCLT in cases related to corporate governance issues, shareholder disputes, and other legal matters.
• Board Meetings and Resolutions: Assisting in organizing board meetings, drafting resolutions, and ensuring that they comply with the required procedures for filing with NCLT, such as in cases of corporate restructuring.

7. Fraudulent or Preferential Transactions
• Advising on Fraudulent Transactions: Providing legal advice on fraudulent or preferential transactions under Section 43-51 of the Insolvency and Bankruptcy Code (IBC). The CS can help in investigating suspicious transactions that might be deemed fraudulent or preferential.
• Representation in NCLT for Fraudulent Transactions: If there is a need to challenge or defend fraudulent transactions before the NCLT, a CS can represent the client and assist in filing the necessary petitions.

8. Protection of Minority Shareholders
• Minority Shareholder Rights: Advising and representing minority shareholders in cases where their rights are being compromised, including seeking remedies from NCLT when necessary.
• Oppression and Mismanagement: Assisting shareholders in filing applications with NCLT under Section 241 of the Companies Act, 2013, in cases of oppression and mismanagement by majority shareholders or directors.

9. Corporate Restructuring
• Restructuring and Reorganization: Helping companies with restructuring plans, including the reorganization of share capital, debt restructuring, and managing corporate governance changes.
• Debt and Equity Restructuring: Assisting in the restructuring of debt and equity under NCLT’s supervision, including filing for approvals of restructuring schemes before the tribunal.

10. Section 8 Companies and Charitable Trusts
• Winding Up of Section 8 Companies: Assisting Section 8 companies (non-profit organizations) in obtaining winding-up orders from NCLT, including the appointment of a liquidator and ensuring compliance with the legal provisions for liquidation.

11. NCLT Orders and Compliance
• Ensuring Compliance with NCLT Orders: After an NCLT order is passed, Assurance that the company adheres to the directions provided by NCLT. This may involve filing compliance reports or taking corrective actions as directed by the tribunal.

12. Filing Petitions and Applications Before NCLT
• Petitions for Corporate Matters: Assist in drafting and filing petitions to the NCLT on various corporate matters such as the alteration of the memorandum and articles of association, changes in the name or registered office, and more.
• Application for Relief: Filing for any relief or remedy under various provisions of the Companies Act and Insolvency and Bankruptcy Code before the NCLT.