INSOLVENCY & BANKRUPTCY (IBC) — under INSOLVENCY AND BANKRUPTCY CODE 2016: Part II Corporate Insolvency (Sections 4-77; Section 7 Financial Creditor / Section 9 Operational Creditor + Section 8 demand notice + 10-day waiting / Section 10 Corporate Debtor self; ₹1 CRORE thresho...
INSOLVENCY & BANKRUPTCY (IBC) — under INSOLVENCY AND BANKRUPTCY CODE 2016: Part II Corporate Insolvency (Sections 4-77; Section 7 Financial Creditor / Section 9 Operational Creditor + Section 8 demand notice + 10-day waiting / Section 10 Corporate Debtor self; ₹1 CRORE threshold post-2020); Part III Individuals + Partnership Firms (Sections 78-187; ₹1 LAKH+ threshold; Personal Guarantor framework Lalit Kumar Jain 2021 SC); Pre-Pack PPIRP (Sections 54A-54P) for MSMEs ≤ ₹250 cr (120-day faster framework); Voluntary Liquidation (Section 233). CIRP TIMELINE 330 DAYS outer (Section 12 — 180+90+60). MORATORIUM Section 14 — bars suits + alienation + SARFAESI + termination essential services + Section 138 NI against company (P. Mohanraj 2021 SC; continues against directors + guarantors). Section 29A — 12 disqualifying categories for Resolution Applicants (Swiss Ribbons 2019 SC). Section 53 LIQUIDATION WATERFALL — CIRP cost → Workmen 24mo + Secured → Other Workmen 12mo → Unsecured Financial → Government → Other → Preference → Equity. Appeals — NCLAT (Section 61 IBC; 30+15 days) → SC SLP (Section 62 IBC; 45 days specific). Landmark frameworks: Innoventive Industries (2017 SC) Section 238 override; Mobilox (2017 SC) operational dispute bar; Essar Steel (2019 SC) CoC supremacy; Vidarbha Industries (2022 SC) NCLT discretion; B.K. Educational Services (2018 SC) 3-yr limitation; Pioneer Urban (2019 SC) homebuyers; P. Mohanraj (2021 SC) moratorium scope. IBBI regulates IPs + IPAs + Information Utilities (NeSL). NOT generic civil litigation — specialized commercial framework.
Insolvency & Bankruptcy (IBC) in Araria is a critical service for individuals, entrepreneurs, and enterprises operating in Bihar. At Nyaya Grah, we deliver this service under the direct supervision of senior counsel — never juniors masquerading — with complete process transparency and a binding money-back guarantee.
Araria, with its 6L+ active businesses and ₹7L+ economic footprint, demands legal infrastructure that is both fast and accurate. Bihar's jurisdictional nuances — including a stamp duty of 6% and ₹2,500/yr professional tax — require local expertise that our team brings to every engagement.
Whether you are filing your first application, navigating a complex matter, or seeking specialist counsel, our practice in Araria ensures every submission carries the imprimatur of seasoned review. We handle the regulatory machinery — you focus on your business.
Everything required to complete your Insolvency & Bankruptcy (IBC) in Araria — bundled into a single fixed fee.
A structured four-step process designed to be transparent, predictable, and accountable at every stage.
Free 30-min consultation with senior partner. Clear quote, timeline, document checklist.
Day 0Signed engagement letter with fixed fee. Document collection begins.
Day 1Strategy + section selection (S.7/S.9/S.10) · Threshold + limitation check · Section 8 demand notice (S.9) · Default proof + NeSL records · IRP Form 2 consent · Petition drafting (Form 1/5/6) · NCLT filing · Admission hearing · Section 14 moratorium · IRP appointment · CoC formation · Resolution Plan + Section 29A · NCLT approval (S.31) OR Liquidation (S.33).
Day 2-7Admission order + Moratorium declaration + IRP appointment + Public announcement + CoC formation + Resolution Plan approval (S.31) OR Liquidation order (S.33) + Section 53 waterfall + NCLAT appeals coordination (S.61) + SC SLP if needed (S.62) + 6-36 month case lifecycle.
FinalA typical checklist. Our team will customize this list during the consultation based on your specific case.
Jurisdictional details relevant to your Insolvency & Bankruptcy (IBC) in Araria.
Fixed professional fees. Government charges quoted separately and disclosed in the engagement letter.
| Component | What's Included | Cost |
|---|---|---|
| Insolvency & Bankruptcy (IBC) · Professional FeesSenior counsel · End-to-end service | All work above | ₹99999Fixed |
| Government FeesAuthority charges, filing fees | Pass-through | At ActualsReceipts shared |
| Stamp Duty (if applicable)Bihar rate: 6% | As per state | At ActualsQuoted upfront |
| GST on Professional Fees18% as per Indian GST | Statutory | 18%On professional fee |
All fees are disclosed in writing on the engagement letter before commencement. Money-back guarantee if we miss the quoted timeline.
Answers to questions most often posed by our clients in Bihar.
Our professional fee for Insolvency & Bankruptcy (IBC) in Araria starts at ₹99999, all-inclusive. Government fees, stamp duty (6% in Bihar), and 18% GST are billed separately at actuals. The complete fee breakdown is disclosed in writing on the engagement letter before work begins.
The standard timeline for Insolvency & Bankruptcy (IBC) is 7-10 working days. We provide a written timeline on the engagement letter — if we miss it for reasons attributable to us, our professional fee is fully refunded (binding guarantee).
Yes. End-to-end. From document preparation to final filing with ROC Patna and follow-up till certificate issuance — every step is handled by our team in Araria. You will receive real-time updates via WhatsApp at every milestone.
You will speak to a senior partner with 15+ years of practice. We do not have juniors masquerading as senior counsel. Every consultation, strategic decision, and material communication is conducted by a partner. Routine execution may be delegated to qualified associates — but oversight remains with the partner throughout.
A typical checklist includes PAN, Aadhaar, address proof, and service-specific documents. The complete list is customized during your free consultation. We accept digital scans (PDF/JPG) — physical visits to our office are not required.
We serve clients across Bihar and all of India — 1,219+ cities. Our jurisdictional expertise for Bihar includes specific knowledge of ROC Patna procedures, Bihar stamp duty (6%), and applicable state schemes such as Bihar Investment.
Simply call +91 7878407950 or message us on WhatsApp. Your first 30-min consultation is complimentary, conducted directly with the senior partner relevant to your matter. You will leave the call with full clarity on cost, timeline, and process — with no obligation to proceed.
Every engagement at Nyaya Grah is grounded in the relevant statute. For founders and counsel reviewing this matter, here is the foundation.
IBC ADJUDICATION HIERARCHY: (1) NCLT — Adjudicating Authority for CORPORATE INSOLVENCY under Section 60(1) IBC; 16 BENCHES — Principal (Delhi) + Mumbai (I+II) + Chennai (I+II) + Kolkata + Bengaluru + Ahmedabad + Hyderabad + JAIPUR + Cuttack + Guwahati + Chandigarh + Allahabad + Indore + Amaravati + Kochi; 2-Member Bench typical (Judicial + Technical). (2) DEBT RECOVERY TRIBUNAL (DRT) — Adjudicating Authority for INDIVIDUAL INSOLVENCY (Part III Section 79). (3) NCLAT — Appellate Authority; Principal Bench Delhi + Chennai Bench; Section 61 IBC 30+15 days; 3-Member Bench. (4) SUPREME COURT — Section 62 IBC 45 DAYS specific (vs general 90 days SLP); Article 136. (5) IBBI (Insolvency and Bankruptcy Board of India) at New Delhi — REGULATOR; Section 188 IBC; regulates IPs + IPAs + Information Utilities. (6) INSOLVENCY PROFESSIONALS (IPs) — IBBI-registered through IPAs: ICAI-IIPI + ICSI-IIP + IIIP-ICAI; appointed as IRP / RP / Liquidator. (7) INFORMATION UTILITIES (IUs) — NeSL (National E-Governance Services Ltd) major IU; default verification. (8) NCLT REGISTRY — case scrutiny + filing administration. (9) RESOLUTION APPLICANTS — Section 29A eligible; ARCs + Strategic Investors + Financial Bidders. (10) ARCs (Asset Reconstruction Companies) — RBI-regulated under SARFAESI; major IBC bidders. (11) GOVERNMENT INTERFACES — RBI + SEBI + MCA + Tax authorities. (12) CoC — Section 21; Financial Creditors voting; 66% threshold; Essar Steel (2019 SC) supremacy. JAIPUR JURISDICTION: NCLT Jaipur Bench (Rajasthan-registered companies) + NCLAT Principal Bench Delhi + SC.
IBC PORTALS: (1) NCLT PORTAL (nclt.gov.in) — Section 7/9/10 filing across 16 benches; case status; cause lists; daily orders; Forms 1-8; e-Payment. (2) IBBI PORTAL (ibbi.gov.in) — Regulations + Circulars; Insolvency Professionals directory; Resolution Plans archive; Public announcements; Voluntary Liquidation tracker; PPIRP framework; Discipline against IPs; statistics. (3) NeSL (nesl.co.in) — Information Utility; default verification; electronic records authentication; real-time data; RBI integration. (4) NCLAT PORTAL (nclat.nic.in) — Section 61 IBC appeals; Principal Bench Delhi + Chennai. (5) MCA21 (mca.gov.in) — Corporate debtor master data; DIN + KYC; annual filings; strike-off + restoration coordination. (6) SC eFiling (efiling.sci.gov.in) — Section 62 IBC SLP. (7) RBI (rbi.org.in) — NPA classifications + ARC directory + Banker certifications. (8) IPAs — ICAI-IIPI + ICSI-IIP + IIIP-ICAI for IP membership + training. (9) Resolution Applicant portals — Virtual Data Rooms for due diligence. (10) Judgment databases — Indian Kanoon (FREE) + Manupatra + SCC Online. (11) Associations — IIIPI + IPC India + International Insolvency Institute (III).
IBC DEVELOPMENTS: (1) THRESHOLD ₹1 CRORE post-2020 amendment (from ₹1 LAKH); significant reduction in filing volume. (2) CoC 66% threshold (revised down from 75% by 2019 amendment). (3) PRE-PACK PPIRP — Sections 54A-54P effective April 2021; MSMEs ≤ ₹250 cr; 120-day timeline. (4) PERSONAL GUARANTOR — Lalit Kumar Jain v UoI (2021 SC) framework; promoter exposure significant. (5) VIDARBHA INDUSTRIES v AXIS BANK (2022 SC) — NCLT discretion in Section 7 admission. (6) ESSAR STEEL v SATISH KUMAR GUPTA (2019 SC) — CoC supremacy + limited judicial review foundational. (7) SWISS RIBBONS v UoI (2019 SC) — IBC + Section 29A constitutionality. (8) P. MOHANRAJ (2021 SC) — Section 14 bars Section 138 NI against company. (9) PIONEER URBAN (2019 SC) + JAYPEE KENSINGTON (2021 SC) — Homebuyers as Financial Creditors. (10) SUNDARESH BHATT v CBIC (2022 SC) — customs in waterfall. (11) TCS v VISHAL GHISULAL JAIN (2022 SC) — Section 14 vs contractual termination. (12) GHANSHYAM MISHRA (2021 SC) — Resolution Plan binding on government dues. (13) IBBI evolution — IPs + IPAs + Information Utilities (NeSL) integration. (14) BENCH EXPANSION — 16 NCLT benches; reduced backlog focus. (15) CROSS-BORDER framework — UNCITRAL Model Law pending implementation. (16) BSA 2023 — Section 63 electronic evidence (1 July 2024). (17) Increasing operational creditor filings + homebuyers active + banking recovery focus + PPIRP adoption growing.
No vague timelines. Here's the actual phase-wise breakdown for Insolvency & Bankruptcy (IBC) in Araria.
IBC MATTER ASSESSMENT: (1) MATTER CATEGORISATION — Corporate (Part II) / Personal (Part III) / Personal Guarantor (Section 60(2)) / Pre-Pack PPIRP (MSME) / Voluntary Liquidation. (2) CORPORATE SECTION CHOICE — Section 7 Financial Creditor (direct route, no notice) / Section 9 Operational (Section 8 mandatory + dispute bar) / Section 10 Corporate Debtor self (Board+Special Resolution). (3) THRESHOLD — ₹1 CRORE corporate post-2020 amendment; ₹1 LAKH+ Personal Guarantor; below = inadmissible. (4) LIMITATION (Section 60(5) + B.K. Educational Services 2018 SC) — 3 YEARS from DEFAULT; Section 18 acknowledgement restarts; Section 5 condonation discretionary; continuing defaults fresh cause. (5) NeSL Information Utility records verification — strengthens petition. (6) DEFAULT PROOF compilation — financial debt agreements + operational invoices + bank statements + NPA documents + Section 8 notices (S.9). (7) Section 29A self-screening (for Resolution Applicants) — 12 disqualifying categories (Swiss Ribbons 2019 SC). (8) IRP IDENTIFICATION — IBBI-registered IP with track record + IPA membership; Form 2 consent. (9) NCLT BENCH assignment — corporate debtor registered office basis; NCLT Jaipur for Rajasthan. (10) STRATEGIC ALTERNATIVES — OTS / restructuring / Pre-Pack PPIRP for MSMEs; cost-benefit. (11) LANDMARK CASE strategy — Innoventive Industries (2017 SC) + Mobilox (2017 SC) + Essar Steel (2019 SC) + Vidarbha (2022 SC). (12) BUDGET + Timeline — 6-18 months admission + CIRP 180-330 days + appeals 1-3 years.
PRE-FILING PREPARATION: (1) SECTION 8 DEMAND NOTICE (S.9) MANDATORY — corporate debtor + creditor + operational debt + amount + interest + 10-day window; Registered Post AD / Speed Post / Email; Macquarie Bank (2018 SC). (2) Response evaluation — Payment / Genuine dispute (Mobilox 2017 SC bar) / No response (proceed). (3) FOR SECTION 7 — Financial debt (Section 5(8)) + default date precise + NeSL/banker certificate + NPA classification. (4) DEFAULT PROOF — loan/service agreements + bank statements + correspondence + RBI certificates + audited financials + NPA documents + Section 63 BSA certifications. (5) NeSL records — strengthens significantly under IBBI (Information Utilities) Regulations 2017. (6) IRP CONSENT (Form 2) — IBBI-registered IP + IPA membership (ICAI-IIPI/ICSI-IIP/IIIP-ICAI) + no-conflict + assignment letter + fees (₹50K-5L/month range). (7) FOR PRE-PACK PPIRP (MSMEs) — MSME eligibility + base plan with 66% secured creditor consent + Information Memorandum. (8) FOR PERSONAL GUARANTOR — personal asset disclosure + Lalit Kumar Jain framework. (9) Senior counsel briefing for high-value matters.
NCLT FILING: (1) Form 1/5/6 selection per section; strict NCLT Rules 2016 format. (2) Application drafting — cause title + parties + facts chronological + Section invoked + default amount + Section 60(5) limitation declaration + Section 8 notice details (S.9) + IRP consent reference + reliefs (admission + IRP + moratorium + CIRP). (3) Annexures — debt documents + Section 8 notice + bank statements + NeSL records + IRP consent (Form 2) + board resolution + audited financials + ROC records + Section 63 BSA certifications. (4) Court fee — typically ₹25,000 Section 7/9; varies. (5) Vakalatnama. (6) Filing nclt.gov.in — online increasingly mandatory; e-Payment. (7) Registry scrutiny 7-15 days; Office Memorandum (OM) defects rectification. (8) Bench assignment — NCLT Jaipur for Rajasthan. (9) Supplementary applications for urgent interim relief. (10) Landmark case citations — Innoventive + Section-specific.
ADMISSION + CIRP INITIATION: (1) Admission hearing 30-60 days — 2-Member NCLT bench; corporate debtor opposition (S.9 dispute / Vidarbha S.7 discretion); senior counsel for complex. (2) ADMISSION OUTCOMES: Admission + Moratorium + IRP appointed + Public announcement OR Dismissal (dispute/threshold/limitation) OR Deferred. (3) SECTION 14 MORATORIUM — bars suits + alienation + SARFAESI + termination essential services (TCS v Vishal Ghisulal Jain 2022 SC) + Section 138 NI against company (P. Mohanraj 2021 SC; continues against directors); Embassy Property (2019 SC) + Rajendra K Bhutta (2020 SC) asset scope. (4) IRP APPOINTMENT (Sections 16-17) — going concern management + public announcement + claims collection. (5) Public announcement within 3 days — newspaper + IBBI website + 14-day claims window. (6) Claims verification — financial / operational / workmen classification. (7) Information Memorandum (Section 29). (8) CoC CONSTITUTION (Section 21) — 30 days; Financial creditors voting share; first meeting 7 days; 66% threshold post-2019; RP appointment confirmation. (9) Appeal if dismissed — NCLAT Section 61 within 30+15 days.
CIRP CORE: (1) CoC MEETINGS — Financial creditors voting share; 66% threshold; periodic monthly; decisions on extension + RP fees + interim arrangements. (2) RP (Sections 22-25) — going concern management + CoC coordination + Information Memorandum + Resolution Applicant invitation. (3) Information Memorandum (Section 29) — comprehensive business + financial + assets + liabilities + litigation disclosure. (4) Resolution Applicant invitation — EoI + Section 29A self-screen + due diligence 30-60 days. (5) Section 29A — 12 DISQUALIFYING CATEGORIES (Swiss Ribbons 2019 SC): undischarged insolvent + wilful defaulter + NPA 1+yr + convicted 2+yr + disqualified director + fraudulent/preferential transactions + economic offences + SEBI-prohibited + connected persons + foreign equivalents + promoter caused NPA. (6) Resolution Plan submissions (Section 30) — multiple applicants typical; financial viability + implementation + Section 30(2) compliance + repayment + employee transition. (7) CoC VOTING — 66%; Essar Steel (2019 SC) CoC SUPREMACY. (8) NCLT APPROVAL (Section 31) — LIMITED JUDICIAL REVIEW; Essar Steel framework; binding on all stakeholders (Ghanshyam Mishra 2021 SC — government dues). (9) Implementation — Resolution Applicant takeover; periodic reports; supervision. (10) Failure → Liquidation Section 33. (11) Pre-Pack PPIRP — modified framework; 120 days; Swiss Challenge. (12) Homebuyers (Pioneer Urban 2019 SC + Jaypee Kensington 2021 SC) — class representation + voting share.
POST-RESOLUTION / FAILURE: (1) LIQUIDATION (Sections 33-54) — Section 33 trigger; Section 34 Liquidator; public announcement + claims re-verification; asset valuation + sale (going concern preferred / slump / asset-by-asset / e-auction). (2) SECTION 53 WATERFALL — CIRP cost → Workmen 24mo + Secured → Other Workmen 12mo → Unsecured Financial → Government → Other → Preference → Equity (Sundaresh Bhatt 2022 SC customs). (3) Voluntary Liquidation (Section 233) — solvent companies. (4) FRAUDULENT + WRONGFUL TRADING (Sections 66-67) — recovery from directors. (5) Preferential/Undervalued/Extortionate transactions (Sections 43-51) — IRP/RP/Liquidator challenge + recover; forensic audit essential. (6) PERSONAL GUARANTOR INSOLVENCY (Part III + Section 60(2)) — Lalit Kumar Jain (2021 SC): Section 95 application + Section 96 personal moratorium + Sections 105-117 Repayment Plan + Sections 121-187 Bankruptcy if fails. (7) NCLAT APPEAL (Section 61 IBC) — 30 days + 15-day condonation; Principal Bench Delhi or Chennai; grounds limited (jurisdiction + procedural + Section 30(2) + manifest illegality); 3-Member Bench; stay separately. (8) SC SLP (Section 62 IBC) — 45 DAYS specific; AOR mandatory + Senior Counsel; admission ~10-20%. (9) Implementation supervision post-resolution. (10) Contempt under Section 425 Companies Act. (11) Cross-border recovery — limited; UNCITRAL Model Law implementation pending. (12) Homebuyers retail recovery — class representation. (13) Long-term advocacy — 6-36 months.
Most counsel quote one number. We show you what goes where, so there is nothing to discover later.
| Component | Amount | Note |
|---|---|---|
| IBC SECTION 7 (Financial Creditor) | ₹1,49,999 – ₹9,99,999 | Direct route; NeSL records strengthen |
| IBC SECTION 9 (Operational Creditor) | ₹74,999 – ₹4,99,999 | Section 8 + 10-day window |
| IBC SECTION 10 (Corporate Debtor) | ₹1,49,999 – ₹19,99,999 | Board + Special Resolution |
| PRE-PACK INSOLVENCY (PPIRP) — MSME | ₹1,49,999 – ₹9,99,999 | MSMEs ≤ ₹250 cr; 120-day framework |
| PERSONAL GUARANTOR INSOLVENCY | ₹2,99,999 – ₹19,99,999 | Part III; Lalit Kumar Jain framework |
| CIRP Coordination + CoC Meetings | ₹1,99,999 – ₹9,99,999 | Ongoing for petitioner / Resolution Applicant |
| RESOLUTION PLAN preparation + negotiation | ₹4,99,999 – ₹49,99,999 | For Resolution Applicants |
| LIQUIDATION COORDINATION | ₹2,99,999 – ₹19,99,999 | Section 33-54 + Section 53 waterfall |
| VOLUNTARY LIQUIDATION (Section 233) | ₹2,99,999 – ₹14,99,999 | Solvent companies; member-driven |
| SECTION 14 MORATORIUM applications | ₹49,999 – ₹4,99,999 | Specific moratorium scope issues |
| FRAUDULENT/WRONGFUL TRADING recovery | ₹2,99,999 – ₹19,99,999 | Sections 66-67 + Sections 43-51 |
| CROSS-BORDER INSOLVENCY | ₹4,99,999 – ₹49,99,999 | Limited framework; UNCITRAL pending |
| NCLAT APPEAL (Section 61 IBC) | ₹1,99,999 – ₹19,99,999 | 30 days + 15-day condonation |
| SC SLP from NCLAT (Section 62 IBC) | ₹2,99,999 – ₹29,99,999 | 45 days specific; AOR mandatory |
| CONTEMPT proceedings | ₹49,999 – ₹4,99,999 | Section 425 Companies Act |
| GOVERNMENT FEES (PASS-THROUGH) | ||
| NCLT court fee | ₹25,000 typical | Pass-through; varies by application |
| Vakalatnama stamp | ₹100 – ₹500 | Pass-through; state-specific |
| Notary + Affidavit | ₹500 – ₹2,000 | Pass-through; per affidavit |
| Photocopying + Index | ₹5,000 – ₹1,00,000 | Pass-through; record-heavy |
| NeSL fees | ₹50 – ₹2,000 | Pass-through; per record |
| Public announcement | ₹50,000 – ₹2,00,000 | Pass-through; newspaper + IBBI |
| IRP / RP FEES (PASS-THROUGH) | ||
| IRP / RP monthly fee | ₹50,000 – ₹5,00,000 | CoC determined |
| Forensic Audit + Valuation | ₹5,00,000 – ₹50,00,000+ | Pass-through; case-specific |
| Valuer reports | ₹2,00,000 – ₹25,00,000 | Pass-through; asset-based |
| SENIOR COUNSEL (PASS-THROUGH) | ||
| Junior counsel per hearing | ₹15,000 – ₹50,000 | Pass-through; NCLT routine |
| Senior counsel per hearing | ₹1,00,000 – ₹10,00,000+ | Pass-through; complex matters |
| Senior Advocate NCLAT | ₹4,99,999 – ₹49,99,999 | Per appearance |
| Senior Counsel SC | ₹9,99,999 – ₹1,99,99,999 | Per matter |
| AOR Supreme Court | ₹49,999 – ₹9,99,999 | Mandatory for SC SLP |
| Resolution Plan preparation (Applicants) | ₹10,00,000 – ₹2,00,00,000+ | Complex commercial work |
| CoC Secretarial services | ₹50,000 – ₹2,00,000/mo | CIRP duration |
| Ongoing post-resolution support | ₹49,999 – ₹9,99,999/yr | Implementation monitoring |
Total estimate from 99999 · final fee depends on entity size, document readiness, and city-specific stamp duty (see local jurisdiction above).
From hundreds of engagements, here are the patterns that cause founders and businesses to come back to us in distress. Avoid these and you've already won 70% of the matter.
S.7 Financial Creditor (no demand notice); S.9 Operational (S.8 mandatory + Mobilox dispute bar); S.10 Corporate Debtor self. Wrong = dismissal.
IBC ₹1 CRORE post-2020 (from ₹1 LAKH). Below = inadmissible. Personal Guarantor ₹1 LAKH+. Strict.
For Operational Creditor — Section 8 MANDATORY + 10-DAY response. Macquarie Bank (2018 SC). Skipping = inadmissibility.
For S.9 — pre-existing genuine dispute = ADMISSIBILITY BAR. Check before filing; alternative routes if dispute.
IBBI-registered IP consent MANDATORY. IPA membership + no-conflict. Defective = procedural rejection.
3 YEARS from default (B.K. Educational Services 2018 SC). NOT NPA date. S.18 acknowledgement restarts.
12 categories (Swiss Ribbons 2019 SC). Promoter NPA most common bar. Self-screen + comprehensive disclosure.
66% for most decisions (revised from 75% by 2019). 75% for specific. Wrong counting = challenge potential.
Bars suits + alienation + SARFAESI + Section 138 NI against COMPANY (P. Mohanraj 2021 SC). Continues against directors + guarantors.
Innoventive (2017 SC) + Mobilox (2017 SC) + Essar Steel (2019 SC) + Vidarbha (2022 SC) + B.K. Educational (2018 SC) strengthen petitions.
Section 61 IBC — 30 DAYS + 15-day condonation. STRICT. Section 62 SC SLP — 45 DAYS specific (vs 90 general).
Default verification via NeSL strengthens significantly. IBBI Regulations 2017. Strategic for serious matters.
Preferential/Undervalued/Extortionate (Sections 43-51) + Wrongful Trading (Sections 66-67) — comprehensive audit critical.
NCLAT + SC SLP need senior counsel + AOR (SC mandatory). High-value resolution plans require specialization.
These are the signals — observed across the profession — that your money and matter are about to be handled poorly. We list them so you can vet anyone, including us.
Not the polished 5 — the 15 that come up in real consultations. Click any to expand.
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