In brief
The NCLT hears the life of a company when ordinary company law is no longer enough: insolvency, a fight between shareholders, a merger, and the point where a SEBI order collides with that proceeding. We conduct the tribunal work, including where the securities regulator is already in the facts.
Discuss this matter
Insolvency
CIRP, liquidation, and the professionals who run them.
The company
Oppression, capital, mergers, and the register of members.
SEBI
Disclosure, insider trading, and attachment while an insolvency is open.
The brief
What clients ask us
Choose a question. The answer sets out the work we actually take in this practice, in plain language.
Answer
The code is a process with a clock. We advise on it, and we appear for the people the process gives a role to.
- Advice and strategy on the Insolvency and Bankruptcy Code, 2016
- CIRP applications by financial creditors, operational creditors, and the corporate debtor
- Secured and unsecured creditors in the proceeding
- Interim resolution professionals, resolution professionals, and liquidators
- Voluntary winding up and liquidation
What insolvency work do you do under the IBC?
Answer
The code is a process with a clock. We advise on it, and we appear for the people the process gives a role to.
- Advice and strategy on the Insolvency and Bankruptcy Code, 2016
- CIRP applications by financial creditors, operational creditors, and the corporate debtor
- Secured and unsecured creditors in the proceeding
- Interim resolution professionals, resolution professionals, and liquidators
- Voluntary winding up and liquidation
Do you act in shareholder and restructuring disputes?
Answer
Yes. A company can be perfectly solvent and still need the tribunal, because the shareholders cannot stand each other or because the structure of the company has to change.
- Mergers, amalgamations, and restructuring
- Oppression and mismanagement
- Corporate governance
- Due diligence on the transaction or the insolvency
What other company applications do you file?
Answer
The tribunal's company jurisdiction is wider than insolvency. Capital, the register, and the life of a struck-off company are ordinary applications.
- Rectification of the register of members
- Reduction of share capital
- Revival of a dormant or struck-off company
- Transfer of shares and debentures
- Revision of financial statements
- Appointment and removal of auditors
- Appeals before the NCLAT
How do SEBI matters reach the NCLT?
Answer
When the securities law and the company proceeding occupy the same facts. A disclosure failure, an insider-trading allegation, or a SEBI direction can end up in front of the same bench as the insolvency.
- Proceedings involving alleged breaches of SEBI regulations
- Disclosure and insider trading where the tribunal is the forum in the brief
- SEBI directions that have to be read with the IBC
What if a SEBI action and an insolvency are running together?
Answer
That collision is its own case. Attachment, a moratorium, and a direction from the regulator do not automatically give way to each other. Someone has to argue the order of priority.
- Companies and individuals caught between the IBC and a SEBI action
- Defence where SEBI has moved against a company already in insolvency
- Attachment and release of property in the course of the NCLT proceeding
The path
How a matter moves
01
Which door of the tribunal
Insolvency, oppression, a scheme, or a SEBI intersection: the petition is chosen from that.
02
Who has standing
Creditor, member, debtor, or resolution professional. The wrong petitioner is a dismissal.
03
The filing
The petition, the annexures, and the limitation are settled before the diary number.
04
The order, and the appeal
We act on the order or we take it to the NCLAT, including where a SEBI direction is part of the record.
Before you instruct us
Questions on this practice
Is this the same work as the NCLT section of the corporate practice?
The corporate practice also covers SARFAESI and the debt recovery tribunals. This practice is the NCLT itself, with the SEBI questions that arrive in the same proceeding.
Can a shareholder approach the NCLT without filing for insolvency?
Yes. Oppression, mismanagement, and several company applications do not require a default. The facts have to meet that section, not the IBC.
A SEBI attachment has frozen assets the resolution professional needs. Who is heard?
Both regimes have a claim to those assets. We appear in the NCLT on the priority, the moratorium, and the release. Bring the SEBI order with the insolvency order.
Our company was struck off. Can it be restored?
A restoration petition is possible in the circumstances the Companies Act allows. The longer the company has been struck off, the more the explanation has to carry.
Do you act for the resolution professional, or only for creditors?
Both, and for the corporate debtor. The professional's instructions are about the process. The creditor's are about the claim. They are not the same brief.
These answers describe the practice. They are not advice on the facts of your matter.
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