Amicus Publico LLP
Top Insolvency and Bankruptcy Litigation Law Firm in India
Financial distress rarely announces itself politely. A company misses a loan repayment. A vendor stops getting paid. A promoter who personally guaranteed a corporate loan suddenly finds their own assets exposed. A lender is weighing whether to initiate insolvency proceedings — or wondering if the debtor will file first.
Every one of these moments is time-sensitive, and every one is governed by one of the most technically demanding statutes in Indian corporate law: the Insolvency and Bankruptcy Code, 2016 (IBC). Handling it well takes more than knowledge of the statute — it takes an understanding of commercial pressure points, stakeholder behaviour, and the strategic calls that decide whether a distressed situation ends in resolution or liquidation.
Amicus Publico LLP is a top Insolvency and Bankruptcy Litigation Law Firm in India, working across the full spectrum of IBC proceedings on behalf of financial creditors, operational creditors, corporate debtors, resolution applicants, and personal guarantors. Our lawyers appear before the National Company Law Tribunal (NCLT), the National Company Law Appellate Tribunal (NCLAT), and the Supreme Court of India. We also advise on restructuring, creditor negotiation, and pre-insolvency strategy — steps that, taken early enough, can make formal insolvency proceedings unnecessary altogether.
25+
YEARS OF COMBINED PRACTICE
1200+
MATTERS HANDLED
40+
REPORTED JUDGMENTS
15+
INDUSTRY SECTORS
The IBC Landscape in 2026 — What Every Stakeholder Needs to Know
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 — which received Presidential assent on 6 April 2026 — is the most significant overhaul of India's insolvency framework since the Code was first enacted in 2016. If you're a creditor, debtor, or investor dealing with a distressed asset in India this year, understanding these changes isn't optional. It's commercially essential.
Here's what has changed, and why it matters:
The 2026 IBC amendments have significantly reshaped insolvency proceedings in India. CIRP applications must now be admitted or rejected within 14 days, ensuring faster resolution for creditors and reducing delays for debtors. The look-back period for preferential, undervalued, and fraudulent transactions has been extended to two years, making early compliance and transaction reviews more important than ever.
The amendments also allow guarantor assets to be included in CIRP with Committee of Creditors approval, increasing the liability of personal and corporate guarantors. The new Creditor-Initiated Insolvency Resolution Process (CIIRP) enables eligible businesses to remain under existing management while pursuing resolution under creditor supervision. In addition, NCLAT appeals are expected to be resolved within three months, accelerating the insolvency process. At Amicus Publico LLP, we incorporate these latest IBC 2026 amendments into every insolvency and bankruptcy strategy to protect our clients' interests.
Insolvency Law Firm in India — Our Practice Areas
When a corporate debtor defaults on a term loan, working capital facility, debenture, or other financial instrument, the financial creditor can trigger the Corporate Insolvency Resolution Process by filing under Section 7 of the IBC. Under the 2026 amendments, once statutory admission requirements are met, courts have far less room to entertain other grounds for rejection — which makes a well-drafted Section 7 petition more decisive than ever.
We advise and represent banks, NBFCs, bond trustees, debenture holders, and alternative investment funds on:
Pre-Insolvency Restructuring & Debt Advisory
The best insolvency outcomes are often the ones that never reach the NCLT. Before a default hardens into a formal filing, there's usually a window — sometimes a narrow one — to resolve the situation through restructuring or negotiation, at a fraction of the cost and disruption of formal CIRP. We advise on:
- Debt restructuring — repayment extensions, interest concessions, principal haircuts
- One-Time Settlement (OTS) structuring with banks and NBFCs
- Pre-packaged insolvency resolution, now open to a wider range of companies beyond MSMEs under the 2026 amendments
- Intercreditor agreements for coordinated multi-lender situations
- Moratorium strategy — what formal and informal moratoriums actually protect
Why Businesses Choose Us as a Bankruptcy Litigation Law Firm in India
The IBC is unusual: the same statute governs parties with directly opposing interests — creditors against debtors, resolution applicants against incumbent management, secured creditors against unsecured ones. Every matter demands total clarity about whose interests we're protecting and what result actually serves them.Since 2007, Amicus Publico LLP has been providing high-quality, comprehensive, and affordable legal solutions under one roof to corporates, govt. and indivisuals across India.
Amicus Publico represents:
- Financial creditors — banks, NBFCs, AIFs, debenture trustees, and bondholders initiating or participating in CIRP
- Operational creditors — suppliers, vendors, contractors pursuing recovery of unpaid dues
- Corporate debtors — companies and management defending petitions, filing voluntary CIRP, or negotiating pre-insolvency resolution
- Resolution applicants — strategic acquirers and investors pursuing distressed assets
- Personal guarantors — promoters and directors facing proceedings on personal guarantees
- Homebuyers and allottees — recognised as financial creditors in real estate insolvencies, with distinct advocacy needs within the CoC
- Cross-border creditors — foreign lenders and investors navigating Indian IBC proceedings and enforcement
The NCLT Bench Landscape — Where Insolvency in India Gets Decided
The NCLT sits across multiple benches — the Principal Bench in New Delhi, and benches in Mumbai, Chennai, Kolkata, Ahmedabad, Allahabad, Bengaluru, Chandigarh, Guwahati, Hyderabad, and Jaipur. Jurisdiction follows the corporate debtor's registered office.
- We appear before NCLT benches across the country and before the NCLAT in New Delhi, and coordinate Supreme Court strategy where a matter raises a constitutional question or a significant point of IBC interpretation.
- Insolvency litigation is not one-size-fits-all by geography. Each bench has developed its own procedural rhythm and judicial tendencies on contested issues — and we bring bench-specific experience to every matter.
- Speak to a Top Insolvency and Bankruptcy Litigation Law Firm in India — Before the Clock Starts Running
- Under the IBC, timelines aren't suggestions — they're mandatory. A creditor who delays filing loses leverage as assets deteriorate. A debtor who waits too long forfeits the chance at pre-insolvency resolution. A resolution applicant who enters the process unprepared risks disqualification or plan rejection at the final stage.
- Amicus Publico LLP is a top Insolvency and Bankruptcy Litigation Law Firm in India, bringing the technical depth, tribunal experience, and commercial judgment needed at every stage of the IBC framework — from the first default notice to the final distribution waterfall.
The right time to talk to us is before the NCLT clock starts. Not after.
FREQUENTLY ASKED QUESTIONS
CIRP is the formal insolvency process under the Insolvency and Bankruptcy Code, 2016, triggered when a corporate debtor defaults on a debt of ₹1 crore or more. A financial creditor files under Section 7, an operational creditor under Section 9, or the debtor itself under Section 10. Once the NCLT admits the case, a moratorium begins, a resolution professional is appointed, and a Committee of Creditors takes over decision-making. The entire process, including litigation, must conclude within 330 days — ending either in an approved resolution plan or a liquidation order.
The 2026 Amendment Act tightens timelines and closes several long-standing gaps. NCLT must now admit or reject CIRP applications within 14 days, with mandatory written reasons for delay, and admission is compulsory once default is proven. The look-back period for avoidable transactions has doubled to two years. A new Creditor-Initiated Insolvency Resolution Process (CIIRP) offers a debtor-in-possession alternative to formal CIRP. Personal guarantors have lost interim moratorium protection, and guarantor assets can now be pulled into the principal debtor's CIRP under the new Section 28A. NCLAT must also resolve appeals within three months.
A financial creditor is owed a financial debt — typically a bank, NBFC, or bondholder — and files for CIRP under Section 7. An operational creditor is owed money for goods, services, employment, or government dues — typically a vendor or contractor — and files under Section 9, after a mandatory Section 8 demand notice. The distinction matters throughout the process: financial creditors sit on the Committee of Creditors and control key decisions, while operational creditors don't vote but are entitled to minimum payments under any approved resolution plan.
Yes. Proceedings against a personal guarantor under Section 95 can be filed before the same NCLT handling the corporate debtor's insolvency, since jurisdiction over guarantors is tied to the corporate CIRP under Section 60(2). The 2026 amendments have made this exposure sharper — removing interim moratorium protection for guarantors and allowing their assets to be transferred into the corporate CIRP under the new Section 28A.
The clean slate principle means that once the NCLT approves a resolution plan, every claim against the corporate debtor not expressly assumed in that plan is extinguished — including claims from creditors outside the CoC, tax dues, and pending litigation. This is what makes acquiring a company through CIRP fundamentally different from a standard M&A deal, since the buyer inherits the business without its historical liabilities. The 2026 Amendment Act has expressly reinforced this protection under amended Section 31.
Pre-packaged insolvency (or "pre-pack") lets a corporate debtor and its creditors agree on a resolution plan informally, before formal proceedings begin, with the NCLT then approving the pre-negotiated plan. It was originally limited to MSMEs. The 2026 Amendment Act has expanded eligibility well beyond MSMEs, making pre-pack a realistic option for mid-market companies with viable operations and cooperative lenders who want to avoid the full disruption of formal CIRP.
If no viable resolution plan is approved or the CoC opts for liquidation, the NCLT orders the company into liquidation — and under the 2026 amendments, this order must now be passed within 30 days of a failed CIRP. The liquidator sells off the company's assets and distributes proceeds according to the Section 53 waterfall: secured financial creditors first, then unsecured financial creditors, then operational creditors, then equity shareholders. The 2026 amendments also now bar the same professional from acting as both resolution professional and liquidator.
Navigate Insolvency & Bankruptcy Matters with Confidence
Whether you're a financial creditor, operational creditor, corporate debtor, or resolution applicant, our team provides strategic legal guidance across insolvency proceedings, debt recovery, restructuring, and IBC litigation. We help clients protect their interests while pursuing practical and commercially effective solutions.