Insolvency and Restructuring
Insolvency & Bankruptcy
The Insolvency & Bankruptcy Code in 2016 (“the Code”) consolidates the laws and procedure relating to the re-organization and insolvency of corporate persons, partnership firms and individuals, aiming to provide ease of doing business and build investor and financial institution trust in Indian markets to enhance credit availability. The Corporate Insolvency Resolution Process (“CIRP”) has been a game-changer, shifting the focus from liquidation to revival and restructuring, offering distressed companies a chance to recover.
ORTIS has a specialized team of lawyers dedicated to the practice of insolvency and restructuring which works closely with the dispute resolution team in handling the assignments. The team regularly advises and represents corporate creditors, debtors and resolution professionals in relation to varied aspects of CIRP and liquidation process under the Code. ORTIS team also specializes in drafting, filing and contesting petitions, appeals etc. before the National Company Law Tribunals, National Company Law Appellate Tribunals, High Courts across the country and the Supreme Court of India.
Restructuring
Mergers, demergers and acquisitions in India involve complex transactions requiring meticulous planning and compliance with regulatory frameworks to protect stakeholders' interests. The legal framework includes the Companies Act, 2013, SEBI Regulations, Competition Act, 2002 and the Insolvency and Bankruptcy Code, 2016.
Securing approval from the National Company Law Tribunal (NCLT) for a scheme of merger, demerger or acquisition involves a meticulous and well-defined procedure. ORTIS team specializes in drafting comprehensive schemes detailing the terms and conditions of transactions.
In addition to assignments related to insolvency and bankruptcy, ORTIS team also regularly advises companies, resolution applicants and resolution professionals in formulating strategies for debt restructuring. The team has expertise in structuring, negotiating and drafting solutions with respect to corporate debt re-structuring, including schemes of mergers and amalgamations, demergers, slump sales, change in capital structure, shareholding, securities transfers, subscription and allotment of various equity/debt instruments, asset sale purchase, etc.
ORTIS team has previously advised and represented various clients in relation to schemes of mergers and demergers under the provisions of the Indian Companies Act, 2013. This includes:
- advising and preparing scheme of amalgamation for one of an e-commerce company based out of India and successfully representing the Company before the High Court of Delhi;
- advising and representing a famous online marketplace and classified advertising Company in relation to merger and amalgamation proceedings before the National Company Law Tribunal, Bengaluru; and
- advising and preparing schemes of demerger for a widely known Indian conglomerate involved in construction, power and real estate and a well-renowned real estate advisor.
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