ZEUS has been widely acknowledged in the insolvency and bankruptcy sphere since the inception of the Insolvency & Bankruptcy Code, 2016.

Initially, only the provisions pertaining to the resolution of companies through the Corporate Insolvency Resolution Process (“CIRP”) were provided in the Code. Pursuant thereto, the team at the Firm has filed applications under Section 7 of the Code on behalf of various banks, NBFCs, allottees, private lenders for initiating the CIRP proceedings of financially destressed companies and has also defended various corporate debtors from unwarranted applications filed under Section 7 of the Code before different benches of National Company Law Tribunal (“NCLT”) across India, as well as the National Company Law Appellate Tribunal Delhi and Chennai (“NCLAT”) and subsequently before the Supreme Court.

We have also filed applications under Section 9 of the Code on behalf of various operational creditors, i.e., contractors, employees, service providers, before different benches of NCLT for initiating the CIRP proceedings of distressed companies. Our team has also advised and represented resolution professionals overseeing resolution of corporate debtors in different sectors before various benches of NCLT.

We have also filed claims on behalf of financial creditors, financial creditors in a class, operational creditors, workmen and employees in different CIRP proceedings. In case of non-collation of claims, representations have also been filed before the resolution professionals and subsequently applications have been preferred before the NCLT for redressal of the issue with regard to non-collation of claims.

The practice vertical at the Firm has also been fortunate enough to assist various resolution applicants in drafting resolution plans and getting the same approved from the CoC, the NCLT and subsequently defending the said plans before the NCLAT and the Supreme Court.
After the introduction of the Pre-packaged Insolvency Resolution Process (“PPIRP”) provisions in the Code, our Firm has been instrumental in acting on behalf of MSMEs in initiating their PPIRP proceedings of the said MSMEs under the Code by filing applications under Section 54C of the Code.

With regard to restructuring, our team has expertly drafted Schemes of Arrangement and filed first motion and second motion petitions under Section 230-232 of the Companies Act, 2013 and assisted companies in carrying out merger, demerger, etc., while addressing the concerns of the Regional Director, Income Tax Department, Registrar of Companies and Official Liquidator.