Banking, NCLT Insolvency & Debt Recovery
Relentless representation before NCLT, NCLAT, DRT, and DRAT under IBC 2016 and SARFAESI Act.
Practice Overview & Jurisprudential Scope
The enactment of the Insolvency and Bankruptcy Code, 2016 fundamentally transformed Indian corporate debt resolution. Chambers of Virendra Kumar represents financial institutions, corporate creditors, and stressed debtors across complex insolvency situations.
We file and defend Section 7 (financial debt) and Section 9 (operational debt) insolvency petitions before the National Company Law Tribunal (NCLT) in Delhi, Indore, and across regional benches.
We also represent banking institutions and borrowers before Debt Recovery Tribunals (DRT) and Debt Recovery Appellate Tribunals (DRAT) in proceedings under the SARFAESI Act, 2002 and RDDBFI Act, 1993.
Key Legal Services & Representation Scope
Statutory Framework
- Insolvency and Bankruptcy Code, 2016 (IBC)
- Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI)
- Recovery of Debts and Bankruptcy Act, 1993 (RDDBFI Act)
Relevant Courts & Tribunals
- National Company Law Tribunal (NCLT Delhi & Indore Benches)
- National Company Law Appellate Tribunal (NCLAT, New Delhi)
- Debt Recovery Tribunals (DRT Delhi, Jabalpur)
- Supreme Court of India (Appeals under Section 62 IBC)
Procedural Roadmap & Case Journey
Structured legal progression from preliminary evaluation through judicial decree or executed settlement.
Statutory Demand & Threshold Verification
Verifying minimum statutory default threshold (INR 1 Crore) and serving demand notice under Section 8 IBC or Section 13(2) SARFAESI.
Institution of NCLT / DRT Proceedings
Filing Section 7/9 IBC application or Section 17 Securitization Application challenging auction notices.
Admission Hearing & Moratorium Enforcement
Arguing admission of petition, appointment of Interim Resolution Professional (IRP), and declaration of Section 14 moratorium.
Resolution Plan Approval or Structured Settlement
Facilitating CoC approved resolution plan under Section 31 IBC or Section 12A withdrawal upon complete commercial settlement.
Why Choose Chambers of Virendra Kumar
Over 10 years of courtroom litigation and advisory excellence across Indian trial and appellate courts.
Direct Supreme Court of India representation and Supreme Court Bar Association (SCBA) membership.
Dual-seat operational reach between New Delhi (Chamber 93, Supreme Court) and Bhopal (High Court & District Bar).
Strict attorney-client confidentiality safeguarded in accordance with professional obligations.
Meticulous procedural preparation and bespoke legal strategies tailored to each client's objectives.
Frequently Asked Questions
Direct answers to common statutory, procedural, and evidentiary questions in this discipline.
Related Case Law & Legal Commentary
In-depth statutory jurisprudence and Supreme Court precedents relevant to this practice discipline.
Adjudicating Financial Debt Defaults: Standards of Admission under Section 7 IBC before NCLT
A deep dive into judicial tests applied by the National Company Law Tribunal when admitting corporate debtors into Corporate Insolvency Resolution Process (CIRP).
Minimal Judicial Interference: The Narrowing Scope of Section 34 Challenges to Arbitral Awards
Analyzing how Indian courts uphold arbitral finality and enforce domestic and international commercial arbitral awards.
Chambers of Virendra Kumar • Dual Seat: Supreme Court New Delhi & Bhopal