Bankruptcy & Insolvency
IDBI Bank Ltd. – Retained by IDBI to carry out due diligence of about 2300 acres of land owned by Jaypee Infratech Ltd. (JIL)and to assess whether IDBI can create mortgage over the said land parcels as part of the corporate insolvency resolution process initiated by IDBI against JIL under Section 7 of the Insolvency and Bankruptcy Code, 2016.
MBL Infrastructures Ltd. (MBLI) – Advised the Insolvency Professional appointed by NCLT, Kolkata for the corporate insolvency resolution process of the company on the issue whether purchase of 100% equity shares by Special Purpose Vehicles of MBLI by a sponsor will increase the exposure of the financial creditors of MBLI and reduce their security interest.
Punj Lloyd Limited – represented the client before the NCLT and filed Applications under Section 9 of the Insolvency and Bankruptcy Code, 2016 for the initiation of Corporate Insolvency Resolution Process (CIRP), as Operational Creditors for dues against RIDCOR as well as Sunny Vista Realtors, of about US$ 6.92 million (` 45 Crores) and US$ 1.08 million (` 7 Crores) respectively.
Power Finance Corporation – Advising PFC in its capacity as lender on issues relating to rights, obligations and liabilities of PFC under the Insolvency and Bankruptcy Code, 2016 in matters where insolvency proceedings have been initiated against defaulting borrowers.
RPC Premier Laws – Provided the Singapore based Law firm with a detailed consultation and opinion on the procedural aspects of the Insolvency and Bankruptcy Code, 2016, regarding pursuing claims against the Steel Industry giant Uttam Galva.
Sig Sauer, Inc. – represented Sig Sauer India (a subsidiary of Sig Sauer Inc.) and its directors against Leaseplan India Private Limited in various litigations including Execution Suits, Recovery Suits, and Company Petitions etc.
Stoel Rives LLP provided the Singapore based Law firm with a detailed consultation and opinion on the procedural aspects of the Insolvency and Bankruptcy Code, 2016, regarding the initiation of Corporate Insolvency Resolution Process (CIRP) against education giant Educomp Solutions Ltd.
Technopak Advisors Ltd. – represented the client, in an appeal arising out of an order of the NCLT, whereupon an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 for the initiation of Corporate Insolvency Resolution Process (CIRP) was filed by a former employee claiming to be an Operational Creditor of Technopak Advisors Ltd. for an amount of US$ 0.01 million (` 6.1 lakhs). We have successfully defended the client before the NCLT, by showing that the amount in question was a disputed debt, and hence an application under section 9 could not be entertained in the present case which view has been duly appreciated and upheld by the NCLT and the application under section 9 had been duly dismissed.