National Company Law Tribunal - Money Recovery
Is your hard-earned money stuck somewhere?
Have you supplied goods but not received your payment for the same?
Is you debtor not willing to pay back your money with interest as agreed?
Is some company not processing your invoice after having done their work?
If you find yourself in any of the above situations, worry no more! We are here to your rescue with an immensely powerful tool at our aide called Insolvency & Bankruptcy Code ("IBC
"). Ever since the institution of National Company Law Tribunal ("NCLT
") on 1st June 2016, Taneja Law Office has been engaged by multiple clients including Corporates, Partnership Firms, Proprietorship Firms, and Individuals, to recover their debts and dues. Handling a wide range of cases with complex legal situations and coming up with equally innovative solutions, have given us hands on experience and expertise in handling insolvency, bankruptcy, recovery etc. matters before the NCLT & NCLAT.
Are you seeking to recover your bad debt or unpaid invoices from your clients?
If you are a business, company or an individual who has given a loan or provided services or supplied goods, etc. to a Company and the Debtor/Corporate debtor who has not paid or defaulted on the payment, then the Insolvency & Bankruptcy Code, 2016, is the solution to all your problems.
Who Can Initiate Recovery Process In NCLT?
Under the IBC, 2016, the following can start a recovery process un the NCLT against a corporate debtor:
How does IBC & NCLT help you and why should you opt for this process?
- Financial Creditor i.e. any person to whom a financial debt is owed by the debtor.
- Operational Creditor i.e. a person to whom an operational debt is owed with respect to any of the following:
- Goods or Services
- Repayment of dues under any law and payable to the Central Government, any State Government, or any local authority.
The provisions and framework of IBC are so effective for the creditors since they provide for a time bound relief to the creditors. This is a great step towards improvement as compared to the pre-IBC era wherein only a debtor could voluntarily initiate insolvency proceedings if is absolutely not being able to pay his creditors. Tis had resulted in languishment of the creditors who used to be deprived of their monies for a long period of time and in some cases, forever. However, the IBC has now empowered the creditors to initiate recovery proceedings and to recover their rightful claim from the corporate/financial debtor.
Our role in coming to your aid:
Taneja Law Office, having a wide experience in this field, has been using its expertise to meet a high rate of success with their engagements in the NCLT & NCLAT as well as the Hon’ble Supreme Court of India, in certain cases. We will handhold you along the entire process taking care of the following:
- Advisory & Consultancy Services
- Legal research and citation search
- Written/Oral legal opinion as per the unique facts & circumstances of your case
- Drafting of your claim petition and various other pleadings
- Filing Vakalatnama exhibiting our representation on your behalf in the court proceedings
- Filing of the said pleadings and various other affidavits & applications
- Court room arguments and appearance in all hearings
- Assistance with the Insolvency Resolution Professional (IRP) and Committee of Creditors (COC)
- Leading evidence and allied strategy planning
- Drafting and filing of written submissions factoring in the entire legal developments throughout the course of the proceedings
- Conducting final hearing arguments
- Enforcing the judgments and decrees of the court
For all legal solutions relating to recovery of your money, kindly get in touch with us