Landmark Insolvency Litigation & Client Victories
Real-world experience matters when your business's future is at stake. Explore how we have successfully navigated complex insolvency matters and debt restructuring for our clients.
We successfully represented Tata Steel before the Supreme Court in a critical appeal concerning the Insolvency and Bankruptcy Code (IBC). Our team secured a landmark judgment that reaffirmed the strict statutory timelines for filing appeals, setting an important precedent for all future IBC-related litigation.
This announcement details our representation of Standard Chartered Bank in the insolvency and subsequent liquidation proceedings of Prag Distillery. We successfully navigated the NCLT process and settlement negotiations, resulting in a full recovery of our client's outstanding dues.
Our team advised Adhunik Power and Natural Resources on a major exit transaction for its lender, Edelweiss ARC, through a new investment of INR 1400 crore. This deal involved structuring non-convertible debentures (NCDs) and showcases our expertise in complex debt restructuring and corporate finance solutions.
Two of our significant matters were recognized as 'Deals of the Year 2023' by the India Business Law Journal. This includes our work on the IL&FS vs HDFC case, which clarified the law on the transferability of debts, demonstrating our impact on both client outcomes and legal precedent.
About Landmark Cases & Client Successes
In insolvency litigation, procedural precision dictates the outcome. We focus on building airtight cases—from managing registry filings to structuring debt restructuring plans—that minimize delays and avoid the technical pitfalls often seen in NCLT proceedings.
Our Approach to Complex Litigation
Legal strategy in the insolvency space requires moving beyond abstract theory. When we represent clients like Standard Chartered Bank or Tata Steel, our focus is on creating solutions that withstand the rigorous scrutiny of the NCLT and Supreme Court.
We approach each mandate with a dual lens:
1. Procedural Rigor: Many cases falter on technicalities, such as filing defects or missed statutory deadlines. We treat every affidavit, Form 3 filing, and petition as a critical asset, ensuring compliance with the IBC so that the tribunal has no grounds for delay or dismissal.
2. Commercial Strategy: Legal counsel is effective only when it aligns with the business's financial reality. Whether we are formulating a resolution plan or managing a liquidation process, we prioritize recovering value and minimizing loss. For instance, in our work with Prag Distillery, we didn't just litigate—we navigated the settlement process to secure a full recovery for our client.
Why Precedent Matters
Our work, such as the Tata Steel Supreme Court appeal regarding IBC timelines, has established benchmarks for the industry. These landmark successes demonstrate that we do not simply participate in the insolvency framework; we actively help shape its application. By clarifying the law on the transferability of debts and the limits of tribunal jurisdiction, we ensure our clients are positioned on the right side of legal precedent.
If you are currently facing a distressed asset scenario, a corporate insolvency resolution process, or need to challenge a resolution plan, our team is prepared to provide a clear, actionable legal roadmap.
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