Insolvency and Bankruptcy Law
Insolvency and Bankruptcy law has undergone a paradigm shift from earlier scheme of liquidating the assets and distributing the proceeds among the creditors as per predefined waterfall.In the new scheme of law the stress is on resolution of the distressed financial affairs of the corporate by way of handing over the business to a new management and promoters at the optimal valuation of business by way of competitive bidding under the supervision of resolution professional having expertise in this field.
VGNC provides its professional legal expertise during the complete life cycle of corporate resolution process right from initial stage of litigation commencing the Corporate Insolvency Resolution Process (CIRP) till the final resolution plan is approved and implemented. VGNC provides its services to the creditors as well as the corporate debtors in defending their legal rights as per law. VGNC has a long experience of the business in the capacity of a business advisor, and also in accounting, audit, tax and corporate law matters, it also has wide experience in institutional finance and thus is well equipped to provide its expertise in this area of Insolvency and Bankruptcy law not only in litigation before the court of law but also in possible settlement between the creditors and corporate debtors and also in effective and hassle free implementation of resolution plans in the best interest of all the stakeholders. It is only when the corporate resolution process doesn’t succeed that the liquidation is resorted to under the supervision of professional Liquidator and in that process also all the legal services are provided by us to our clients.