Our Services

1. Role as an IP :
An IP plays a key role in resolution, liquidation and bankruptcy processes as may be applicable to companies, limited liability partnerships (LLPs), partnership firms, proprietorship firms and individuals.

A. Role of an IP in CIRP and PPIRP
In conducting CIRP/PPIRP of a CD, an IP may act as an IRP or RP. As IRP / RP, a whole array of statutory and legal duties / powers is vested with him. He manages the affairs of CD, exercises the powers of its Board of Directors and complies with applicable laws on behalf of CD. He is entrusted to protect and preserve the value of assets of CD, manage its operations as a going concern and facilitate the committee of creditors (CoC) in taking prudent decisions for resolution of insolvency. For efficient conduct of the process, IP is entrusted to perform other key activities including making public announcement, verification of claims, preparation of information memorandum, raising interim finance, appointment of valuers, inviting prospective resolution applicants to put forth their resolution plan, etc. The Code empowers him to appoint professionals, seek cooperation from personnel of CD and seek orders from the AA in case of any preferential, undervalued, extortionate, or fraudulent transaction. He acts as a link between the AA and CoC as also other stakeholders. Thus, as IRP / RP, he is tasked with conducting and facilitating the CIRP/PPIRP while attempting to address and balance the interests of all stakeholders. During a CIRP/ PPIRP, an IP may also be appointed as authorised representative (AR) for any class of creditors.