PRACTICE AREAS

Insolvency, Bankruptcy & Company Laws

TLP has significant experience in handling matters under the Insolvency and Bankruptcy Code, 2016 (IBC). We specialize in both initiating and defending insolvency proceedings, offering strategic case evaluations and advisory services to corporations on insolvency-related issues.

Our Insolvency and Bankruptcy team possesses deep expertise and strong qualifications, enabling them to manage high stakes matters, including landmark cases under the IBC. We continuously assist clients by delivering tailored solutions focused on achieving the best possible outcomes.

Our clients rely on us for guidance on complex IBC issues. Our lawyers have played pivotal roles in several high-value acquisitions since the introduction of the IBC. We also provide robust representation before the NCLT, the NCLAT, and the Supreme Court.

Indicative Matters

Shree Ram Urban Infrastructure: Advised and represented the client in the INR 2,000 crores Palais Royale project in Mumbai across multiple courts, including the Bombay High Court, NCLT, and NCLAT. The disputes involved resisting creditor action under the SARFAESI Act, and challenging winding-up proceedings and insolvency proceedings against associate companies.
Shapoorji Pallonji Group: Represented the client in initiating a corporate insolvency resolution process (CIRP) under Section 9 of the IBC against a prominent infrastructure company for default of operational debt in connection with the Mumbai Metro Project. Also, successfully represented and continue to represent the corporate debtor client in several petitions initiated against it under Section 9 of IBC.
State Maritime Board: Represented the client in the CIRP process for securing lease rent of INR 1,400 crores on behalf of the board.
SEBI: Represented the regulator in challenges to recovery proceedings against Pancard Clubs Limited, a Collective Investment Scheme company that illegally collected approximately INR 7,500 crores from investors.
Life Insurance Corporation of India (LIC): Successfully represented LIC in getting belated claims adjudicated and admitted by the RP/ Liquidator in their debtors' relevant CIRP and liquidation process.
S. Kumars Limited: Defended the corporate debtor client on the grounds that the petition filed is barred by limitation. Successfully put up a defence and the matter is currently headed towards a settlement between the parties rather than being pushed towards adjudication by the financial creditor.