Corporate Insolvency Resolution Process

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Corporate Insolvency Resolution Process

SRPPL is a recognized Insolvency Professional Entity (IPE) with IBBI, its directors are registered Insolvency Professionals, with expertise in different fields e.g., banking, management, Corporate finance, restructuring, Legal, Accounting and Taxation and Merchant banking etc.

SRPPL is providing various support services to its directors/associates who have been appointed as Interim Resolution Professional or Resolution Professional in the Corporate Insolvency Resolution Process of any Corporate Debtor. Following support services are extended by different teams of SRPPL for efficient handling of Corporate Insolvency Resolution process:-

  1. Claim Verification Team for Consolidation and Verification of Claims submitted by financial creditors, operational Creditors, workmen/employees and statutory dues etc.
  2. Front End Team for taking over control and custody of any asset over which the corporate debtor has ownership rights as recorded in the balance sheet of the corporate debtor, or with information utility or the depository of securities or any other registry that records the ownership of assets.
  3. SRPPL has developed a team responsible for conducting various functions of Corporate Insolvency Resolution process. The important jobs performed by the team are as follows:-
    1. To Communicate with all stakeholders such as Committee of Creditor’s members, other claimants, promoters and directors, Key Managerial Personnel, statutory authorities, auditors, employees of Corporate Debtor, etc for the purpose of seeking information, informing them about the commencement of CIRP, coordinating for litigation.
    2. To convene the committee of creditors meeting and to prepare all notices, agenda, minutes etc.
    3. To prepare Information Memorandum in accordance with section 29 of Code for formulating resolution plan.
    4. To conduct entire process of an invitation of resolution plans such as invitation of expression of interest, in Form G, preparation of RFRP, evaluation matrix, eligibility criteria and other documents for receipt, examination and presentation of Resolution Plans for the approval of Committee of Creditors.
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