INSOLVENCY AND BANKRUPTCY LAWS
Legal Win stands as a leading authority in insolvency and bankruptcy law, renowned for expertise, industry leadership, and unwavering client recognition. Our team provides end-to-end legal services covering insolvency, restructuring, liquidation, and distressed asset transactions under the IBC, 2016.
We have achieved the highest number of wins and landmark judgments before the NCLT and NCLAT, making us the most recognised firm at these tribunals. Our proven track record of success and consistent client endorsements underscore our reputation for excellence.
Legal Win represents a diverse spectrum of clients, including creditors, debtors, resolution professionals, and investors, in both contentious and non-contentious matters. Our strategic, client-focused approach ensures personalised attention and maximised value recovery in every case.
Our expertise extends to High Courts and the Supreme Court of India, where we continue to deliver superior outcomes. Clients trust us for our integrity, commercial acumen, and innovative legal strategies to navigate the most complex insolvency challenges.
With unmatched leadership, sector-wide recognition, and a commitment to practical, commercially viable solutions, Legal Win remains the partner of choice for insolvency and bankruptcy matters across India.
Advisory, Litigation, and Representation under Section 7 – Corporate Insolvency Resolution Process (CIRP)
We advise and represent financial creditors, consortium lenders, banks, financial institutions, debenture holders, and corporate debtors in proceedings initiated under Section 7 of the IBC.
Our services include:
- Evaluation of debt, default, and maintainability of insolvency applications.
- Drafting and filing Section 7 applications before the NCLT.
- Advising creditors on enforcement strategies and insolvency remedies.
- Contesting insolvency petitions on grounds including absence of default, limitation, fraud, jurisdictional defects, and procedural irregularities.
- Representing clients during admission hearings and appeals.
- Advising lenders regarding inter-creditor arrangements and consortium disputes.
- Strategic litigation concerning assignment of debt, security interests, and financial creditor status.
- Representation in appellate proceedings before NCLAT and higher courts.
Advisory, Litigation, and Representation under Section 9 – Insolvency Proceedings by Operational Creditors
We assist operational creditors and corporate debtors in initiating, defending, and resolving insolvency proceedings arising from operational debts.
Our services include:
- Issuance and response to demand notices.
- Assessment of operational debt and default.
- Evaluation of pre-existing disputes and maintainability of claims.
- Drafting and filing Section 9 applications.
- Defending corporate debtors against insolvency petitions.
- Representation during admission and contested proceedings.
- Advising on settlement mechanisms before and after admission.
- Litigation involving contractual disputes, service agreements, supply contracts, and disputed invoices.
Proceedings under Sections 43, 45, 49, 50, 66 and Related Avoidance Transactions
We advise Resolution Professionals, Liquidators, creditors, promoters, and affected parties on avoidance transactions and investigations into wrongful conduct.
Preferential Transactions (Section 43)
- Identification and investigation of preferential transfers.
- Advisory on claw-back actions and recovery proceedings.
- Representation in avoidance applications before NCLT.
- Défense of beneficiaries of alleged preferential transactions.
Undervalued Transactions (Sections 45 and 49)
- Examination of asset transfers made below fair value.
- Legal assessment of transactions undertaken during the vulnerability period.
- Litigation relating to reversal and recovery of undervalued transactions.
Extortionate Credit Transactions (Section 50)
- Analysis of financing arrangements involving excessive interest or unconscionable terms.
- Initiation and defence of applications seeking avoidance of extortionate transactions.
Fraudulent Trading and Wrongful Conduct (Section 66)
- Representation in proceedings alleging fraudulent trading or wrongful conduct.
- Advising directors, promoters, key managerial personnel, and related parties.
- Conducting forensic legal reviews of corporate transactions.
- Recovery actions against persons responsible for depletion of corporate assets.
- Défense against personal liability claims and contribution proceedings.
Bankruptcy Proceedings under Section 121
Bankruptcy Proceedings under Section 121
We advise stakeholders in bankruptcy proceedings involving personal guarantors and individuals following insolvency resolution processes.
Our services include:
- Initiating bankruptcy applications.
- Representation in bankruptcy adjudication proceedings.
- Protection and realisation of assets.
- Advising trustees, creditors, and debtors regarding rights and obligations.
- Litigation concerning distribution of bankruptcy estates.
- Challenging and defending bankruptcy orders.
- Appeals arising from bankruptcy proceedings.
Pre-Packaged Insolvency Resolution Process (PPIRP) – Section 54 Framework
We assist eligible corporate debtors, creditors, and investors in utilizing the PPIRP mechanism for efficient restructuring.
Our services include:
- Assessment of PPIRP eligibility and feasibility.
- Preparation of base resolution plans.
- Obtaining requisite creditor approvals.
- Drafting and filing PPIRP applications.
- Advising management and stakeholders throughout the process.
- Representation before NCLT for approval and implementation.
- Resolving disputes arising during PPIRP proceedings.
- Structuring rescue and turnaround transactions.
Creditor Initiated Insolvency Resolution Process (CIIRP) (New and Evolving Law introduced in Finance Bill 2026)
We have commenced advising creditors and stakeholders in creditor-driven restructuring and insolvency strategies under the new Creditor Initiated Insolvency Resolution Process. Please note that this law is evolving and is likely to undergo changes during the implementation phase.
Our services include:
- Strategic assessment of recovery and restructuring options.
- Coordination among secured and unsecured creditors.
- Development of creditor-led resolution strategies.
- Representation in negotiations with debtors and stakeholders.
- Advisory on voting rights and creditor coordination mechanisms.
- Structuring consensual and statutory resolution frameworks.
Filing, Verification, Admission, and Contest of Claims
We assist creditors and stakeholders in protecting their interests during CIRP and liquidation proceedings.
Our services include:
- Preparation and filing of claims before Resolution Professionals and Liquidators.
- Verification of debt documentation and supporting records.
- Filing supplementary and revised claims.
- Advising financial, operational, workmen, employee, and government creditors.
- Challenging wrongful rejection or partial admission of claims.
- Litigation before NCLT and appellate forums regarding claim determination.
- Representation in disputes concerning priority and distribution.
Committee of Creditors (CoC) and Stakeholder Committee (SCC) Advisory
We provide strategic guidance to creditors, corporate debtors, investors, and stakeholders participating in insolvency/Liquidation proceedings.
Our services include:
- Advisory on CoC constitution and voting rights.
- Representation during CoC meetings.
- Legal review of resolutions and voting outcomes.
- Advising lenders on commercial decisions and restructuring proposals.
- Challenges relating to CoC decisions where legally permissible.
- Representation before stakeholder consultation committees in liquidation.
- Guidance on governance, compliance, and fiduciary obligations.
Resolution Plans – Submission, Evaluation, Approval, and Challenges
We advise prospective resolution applicants, investors, strategic acquirers, and creditors throughout the resolution plan process.
Our services include:
- Eligibility assessment under Section 29A.
- Conducting legal due diligence.
- Structuring and drafting resolution plans.
- Negotiating with Resolution Professionals and CoC members.
- Advising on regulatory approvals and implementation issues.
- Representation during plan approval proceedings before COC (if permitted)/ NCLT/NCLAT
- Challenging rejection of resolution plans before NCLT
- Defending approved plans in appellate proceedings.
- Advisory on post-approval implementation and monitoring.
Acquisition of Assets in Liquidation
We advise investors, distressed asset funds, corporate buyers, and financial institutions seeking to acquire assets from companies undergoing liquidation.
Our services include:
- Legal due diligence of assets and business undertakings.
- Advisory on acquisition through auction, e-auction, private sale, private treaty, or going-concern sale.
- Review of title, encumbrances, and security interests.
- Structuring acquisition transactions.
- Participation in bidding processes.
- Negotiation of sale documentation.
- Representation in disputes arising from liquidation sales.
- Post-acquisition compliance and implementation support.
Acquisition of Receivables and Distressed Debt
We advise investors, banks, financial institutions, asset reconstruction companies, and distressed asset purchasers in acquiring receivables and debt portfolios from entities undergoing CIRP or liquidation.
Our services include:
- Legal due diligence of receivables and debt assets.
- Evaluation of enforceability and recovery prospects.
- Structuring assignments and debt transfer transactions.
- Advisory on security interests and collateral rights.
- Negotiation and documentation of acquisition agreements.
- Representation in disputes concerning assigned claims.
- Regulatory and compliance advisory relating to debt acquisitions.
