Corporates

CIRP/ Liquidation/ Voluntary Liquidation

Preparation and filing of Insolvency Application before NCLT

• For and on behalf of Financial Creditors u/s 7 of IBC
• For and on behalf of Operational Creditors u/s 9 of IBC
• For and on behalf of Corporate Debtor u/s 10 of IBC

Interim Resolution Professional (IRP)

• Nitin Mehta, who are qualified Insolvency Professionals, are acting as Interim Resolution Professional if appointed;
• IRP in doing and complying with all his duties such as Public Announcement, receive, verify and admit claims, continue the operations and control of the operations at Corporate Debtor, take control and custody of all the assets of Corporate Debtor, constitute Committee of Creditors, file report before NCLT, convene the first meeting of COC, appoint other professionals, depute security guards for watch and ward of assets and to continue as IRP till the appointment of Resolution Professional and do all functions and duties of IRP.

Resolution Professional (RP)

• Nitin Mehta, who are qualified Insolvency Professionals, are working as Resolution Professional if appointed;
• RP in doing and complying with all his duties such as running the operations of the Company as a going concern, the appointment of valuers, preparation of information memorandum, raising interim finance, convene all the meetings of COC, work as per the consent and directions of members of COC as per law, invite resolution applicants for putting forward a resolution plan, release Expression of Interest, call for resolution plans, release approved bid evaluation criteria, receive and examine Resolution Plans, present all Resolution Plans before COC, examine sustainable debt of the Company, present the liquidation value of the Company, examine books of accounts for finding avoidable transactions u/s 43, 45, 50 & 66 and file applications for recovery from beneficial creditors, beneficial transferees, lenders with exorbitant terms of loans, contributories for fraudulent transactions.
• To submit an approved resolution plan before NCLT and represent before NCLT for sanction of the Resolution plan. Finally, hand over the custody and control of the Company to a successful resolution applicant.
• Drafting, settling, and filing all representations, reports, petitions, replies, rejoinders, and all other such pleadings as may be necessary before the Adjudicating Authority and appearances for hearing before the Adjudicating Authority.
• Filing and defending of any Applications which may be filed by the company or against the company with NCLT/

Conducting Liquidation Process

• Nitin Mehta, who are qualified Insolvency Professionals, would act as Liquidator if appointed;
• the liquidator in doing and complying with all his duties and responsibilities such as the release of Public Announcement, receive, verify and admit all claims, take custody and control of all the assets of the Corporate Debtor, apply and obtain help from local administration by making an application to Adjudicating Authority, if required, to obtain the valuation and prepare a report of the assets and property of the Corporate Debtor, to protect and preserve the assets and properties of the Corporate Debtor, to carry on the business of the Corporate Debtor for its beneficial liquidation.
• To support and assist the liquidator for selling the immovable and movable property and actionable claims of the Corporate Debtor, to prepare all reports required under the liquidation process, to appoint professionals for any assistance, to distribute proceeds of sale or realization of assets to creditors, to institute any claim or recovery suit or insolvency for any of the Corporate Debtor.
• To investigate the financial affairs of the Corporate Debtor to determine undervalued, preferential, extortionate credit or fraudulent transactions and take necessary actions for maximization of recovery for the creditors.

Voluntary Liquidation Assignments

• Nitin Mehta can be appointed as Voluntary Liquidator u/s 59 of the IBC.
• functions of Voluntary Liquidator such as taking over control and custody of all the assets; disposing of all the assets; recovery from all dues; distribution of funds to creditors; closure of the company and to do all compliances.
• To prepare all the reports required for Company for complete closure.

To Act as Process Advisor or Legal Associate

• Nitin Mehta, can be appointed as Process Advisor and /or Legal Associates for CIRP or Liquidation process appointed by COC or other professionals/RP/Liquidator.
• Nitin Mehta can be appointed as a Consultant to any creditor or stakeholder.

To Prepare Resolution Plan & to Represent Resolution Applicant to RP, COC & NCLT.

To prepare any kind of application for and represent before NCLT & NCLAT.

To act as an advisor to Corporate Debtor under financial stress and effect a turnaround under IBC.