Process advising is provided in the matters of corporate insolvency resolution professional, liquidation, Insolvency, and bankruptcy of individuals and partnership firms.
The Insolvency and Bankruptcy Code, 2016 (IBC) is the comprehensive law that consolidates the existing law and gives it a shape to resolve the economy through the resolution of the units i.e. Corporate debtors, units under IBC, 2016, under financial stress. It also covers the resolution of personal insolvency and bankruptcy issues. It proposes a time-bound resolution process under strict supervision and guidance of adjudicating authority. The strict deadline, detailed process along prescribed rules and forms make this law detailed yet very effective.
A process advisor plays an extremely important role in finding a balance between stakeholders and the Committee of creditors. Amongst many things, the Process advisor negotiates on behalf of lenders for the best possible recovery, provides assistance to lenders in taking an informed decision. Process advisor plays an integral role to value maximization in the resolution process and acts as an interface between CoC, resolution professional, and investors.
From understanding the commercial market, updating the laws, and identifying value for the investors for maximum resolution of the units, along with efficient coordination with professionals and stakeholders. It is important for the Process advisor to identify market opportunities extensively through collateral including Teasers, Information dockets, etc. and run a fair, transparent, and clear process with all participants to avoid litigation
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