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Insolvency Law

Insolvency & IBC Practice — Ahmedabad

IPCogito Legal advises financial creditors, operational creditors, and corporate debtors on insolvency and restructuring under the Insolvency and Bankruptcy Code 2016. Our practice covers CIRP initiation, NCLT representation, and creditor advisory throughout the resolution process.

Our Services

How We Can Help

Section 7 Application

Filing applications by financial creditors to initiate Corporate Insolvency Resolution Process (CIRP) before the NCLT.

Section 9 Application

Filing applications by operational creditors for CIRP initiation, including demand notice drafting under Section 8.

NCLT Representation

Appearing before the National Company Law Tribunal, Ahmedabad Bench and other benches across India.

Creditor Advisory

Advising secured and unsecured creditors on rights, claims submission, and participation in Committee of Creditors.

Resolution Plan Advisory

Reviewing and advising on resolution plans submitted by resolution applicants.

Liquidation Proceedings

Representing creditors in liquidation proceedings and distribution of assets.

FAQs

Frequently Asked Questions

The minimum default amount is ₹1 crore for initiating CIRP, as revised by the Ministry of Corporate Affairs in 2020.
Section 7 allows a financial creditor (bank, NBFC, debenture holder) to file for CIRP. Section 9 allows an operational creditor (supplier, employee, contractor) to file after serving a demand notice under Section 8.
The IBC mandates completion of CIRP within 180 days, extendable by 90 days with NCLT approval, and in exceptional cases up to 330 days total.
The IBC framework for individual insolvency (Part III) has not yet been fully notified. Currently, the Act is primarily operational for corporate persons.