Expertise
Banking & Finance
Recovery, enforcement and insolvency proceedings, for lenders and for borrowers, before the Debts Recovery Tribunals, the NCLT and the High Courts.
The chamber acts on both sides of a debt. For banks and financial institutions it pursues recovery under the Recovery of Debts and Bankruptcy Act, 1993 and enforcement of security under the SARFAESI Act, 2002, and defends the challenges borrowers bring to those steps. For borrowers, guarantors and promoters it tests the lender's compliance with each statute and the tribunal's jurisdiction, and resists measures taken out of turn.
Insolvency work under the Insolvency and Bankruptcy Code, 2016 is conducted before the National Company Law Tribunal and the Appellate Tribunal: the admission of a petition, the claims of operational and financial creditors, the position of guarantors, and the applications that arise during a resolution process.
Where the financial dispute is really a fraud, with funds diverted, security misdescribed or a guarantee obtained by misrepresentation, the matter is handled together with the chamber's white-collar practice, so that the civil recovery and the criminal complaint are planned as one proceeding.
What the work includes
- Original applications and appeals before the DRT and DRAT
- SARFAESI measures and their challenge under Section 17
- Insolvency petitions and applications before the NCLT and NCLAT
- Guarantor and promoter liability
- Retrospectivity and procedure under the RDDB Act amendments
- Recovery suits and execution