IBC Case Filing (NCLT)

What this is

Filing an application before the National Company Law Tribunal under the Insolvency and Bankruptcy Code - by an operational creditor under Section 9 after the demand notice went unanswered, or by a financial creditor under Section 7 - or defending a company against such an application, with the application in the prescribed form, affidavits, the record of default, the proposed resolution professional, filing and representation as the plan includes. It is for creditors owed one crore rupees or more by a company or LLP, and for companies facing an application. NCLT fees are shown separately.

What you get

An insolvency application or defence: for a Section 9 application, Form 5 with the affidavit, the demand notice and proof of service, the invoices, the bank certificate or other proof of non-payment, the certificate that no notice of dispute was received, and the proposal for an interim resolution professional; for a Section 7 application, Form 1 with the record of default from the information utility, the loan documents and the default computation; or, for a company, the reply with the pre-existing dispute or payment evidence and the objections to maintainability; drafted, reviewed and signed by our panel advocate, filed on the NCLT e-filing portal with the fee, the case number and first date delivered, and representation at admission and subsequent hearings as the plan includes, with a note on the threshold, the moratorium, withdrawal and settlement. NCLT fees are shown separately and not included in our fee.

How it works

1. 1Upload the papersFor an operational creditor: the Section 8 notice with proof of service, invoices, contract and statement of account; for a financial creditor: the loan documents and record of default; for a company: the application received and the dispute trail. We pre-fill the parties and amounts.
2. 2Tell us the debt or the defenceWhat is owed and since when, or why the debt is disputed.
3. 3Answer the advocate's questionsWhether the threshold is met, whether any reply or dispute was raised, whether the debt is within limitation, whether a resolution professional is identified, and whether settlement is possible.
4. 4PayPay our fee; NCLT fees are shown separately.
5. 5Advocate drafts and filesOur advocate drafts the application or reply and affidavits, takes your approval, and files.
6. 6Hearings and outcomeWe appear as the plan includes and deliver each order with the next-step note.

What to have ready

• Section 8 demand notice with proof of service and any reply (if you have it)For an operational creditor.
• Invoices, purchase orders, contract and statement of account (if you have it)For an operational debt.
• Loan agreement, sanction letter, disbursement proof and account statement (if you have it)For a financial debt.
• Record of default from an information utility (if you have it)If available.
• Bank certificate or statement showing non-payment (if you have it)For an operational creditor.
• Acknowledgement of debt or part payment proof (if you have it)If any.
• Papers of any existing proceeding (if you have it)If any.
• Board resolution or authority letterAuthorising the signatory.
• MCA master data of both parties (if you have it)Showing registered offices and directors.
• Consent of the proposed insolvency professional (if you have it)Form 2, if identified.

What this is based on

• Insolvency & Bankruptcy Code 2016 (2016)
• IBBI Regs
• NCLT Rules 2016 (2016)
• Companies Act 2013 (2013)