The Insolvency Code (” Code”) is made to revamp the bankruptcy and insolvency laws in India. Most importantly it offers a resolution for new management or an exit plan to all categories of persons – Corporate, Stakeholders, Individuals and Partnership firms apart from overhauling century old legal framework.

In this process of application for resolution by financial creditor or corporate debtor, it mandatory to propose a name of the Resolution Professional – RP to the Adjudicating Authority i.e., National Company Law Tribunal – NCLT.

On the other hand, it is important for the operational creditor as well to appoint an experienced IP for making the insolvency application and resolution there after.

The Highlights of the Services offerings:

• Consent for acting as the Insolvency Professional
• Assistance in making Public Announcements and accepting claims
• Verify and Validate Claims Received from the Creditors
• Conducting Valuation of Stocks and other Current Assets
• Arranging Interim Finance
• Preparing Information Memorandum
• Conducting meetings of the Committee of Creditors (COC)
• Managing the administration of Debtors
• Accepting and analyze Resolution Plans
• Acting as a Company Liquidator

“Resolution Plan” means a plan proposed by any person for Insolvency Resolution of the Corporate Debtor as a going concern in accordance with Part II of the Code.

Apart from a few legally critical aspects, the resolution plan shall also have commercial feasibility, holistic viewpoint and visible roadmap for achieving timely resolution.

SCRPL with it experienced team provides advisory to resolution plans in the following ways:

1. Preparation support for Resolution Plan to the Resolution Applicant
2. Representing at the Committee of Creditors on behalf of Financial Creditor or any other member of the COC
3. Representing at the Committee of Creditors on behalf of Financial Creditor or any other member of the COC

Stress Credit through its partners offers the following services:

1. Corporate Restructuring
2. Fund Raising
3. Mergers and acquisitions
4. One time settlement
5. Preparing resolution plan