To Insolvency Professionals
Assistance in Claim Verification and Formation of COC
We supplement the work of the RP by helping in issuance of Public Notice for inviting claims, collation and verification of claims to the extent it is required during Corporate Insolvency Resolution Process; seek further details, documents and explanations from claimants for the purpose of verification, assure physical and digital record keeping of claim documents to assure faster and correct retrieval as and when required.
Assistance in Drafting the Information Memorandum
We assist in preparation and compilation of Information Memorandum and co-ordination for all the information required including updating from time to time with an eye on all required statutory disclosures, requisite disclosures on the company and important information available for facilitating the decision making of the Resolution applicants.
Assistance in Drafting RFRP and Evaluation Matrix
The Request for Resolution Plans (RFRP) is a guide to the details of each step in the process, and the manner and purpose of interaction between the resolution professional and the prospective resolution applicant, along with corresponding timelines. An evaluation matrix is a list of parameters and the manner of application of such parameters to the ‘Resolution Applications’. The Evaluation Matrix lays down criteria according to which CoC lays down the priority of the resolution applications received in pursuance to the RFRP.
Due Diligence u/s 29A of the Code
Section 29A of the IBC debars the defaulting promoters and related parties from regaining control of distressed companies, ensuring the integrity and fairness of the resolution process. The resolution professional is required to carry out a due diligence on the prospective resolution applicants to ensure their eligibility to participate in the resolution process as specified in the EOI. We supplement the work of resolution professional in carrying out the due diligence of the expression of interests submitted by the applicants.
Assistance in Compliance Check of the Resolution Plan
A resolution plan is a document submitted by the prospective Resolution Applicant outlining their perspective in a plan to resolve the insolvency of a corporate debtor thus maximizing the value of its assets under IBC. We assist the Resolution Professional in evaluating the plans received in accordance with the provisions of the Code and RFRP issued by him including the scoring of the applicants based on the Evaluation Matrix.
Compliance Check of Insolvency Professionals
We help Resolution Professional in monitoring of the compliances such as CIRP Forms, Liquidation forms, Voluntarily Liquidation forms, submission of relationship disclosures and cost & fee disclosures with IBBI and IPA.
