Insolvency & Bankruptcy

Insolvency & Bankruptcy in Kolkata — Expert Legal Representation

Corporate insolvency resolution under the IBC, 2016, NCLT proceedings, personal insolvency and bankruptcy, debt recovery, resolution plan formulation and approval, and representation before the NCLT, NCLAT, and High Court.

Our insolvency lawyers help creditors, debtors, and resolution professionals navigate the IBC framework efficiently, protecting their interests throughout the insolvency resolution process..

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What We Handle

Our insolvency lawyers in Kolkata provide comprehensive legal services across a wide range of matters:

• Corporate insolvency resolution under IBC 2016
• NCLT proceedings and representation
• Personal insolvency and bankruptcy
• Resolution plan formulation and approval
• Creditor claims and recovery
• Moratorium and asset protection
• Liquidation proceedings
• NCLAT appeals and High Court writs

Why Choose FileX Advocates for Insolvency & Bankruptcy?

When you are dealing with insolvency matters in Kolkata, choosing the right lawyer can make the difference between a favourable outcome and a costly setback. Here is why clients across Kolkata and West Bengal trust FileX Advocates:

Deep Courtroom Experience. Our lawyers have appeared in hundreds of insolvency cases before the Calcutta High Court, district courts, and various tribunals. We know the local court system, the judges, and the procedural nuances that can make or break a case.

Urgent Response. Legal matters demand swift action. We are available for urgent consultations, emergency filings, and time-sensitive legal intervention. When minutes matter, we act.

Strategic Approach. We do not just react — we build a proactive legal strategy from day one. We investigate facts, examine evidence, identify procedural defects, and challenge the opposing case at every opportunity.

Transparent Communication. You will never be left in the dark. We explain your legal position, your options, and the likely outcomes in plain language, keeping you informed at every stage of the proceedings.

Our Legal Process — How We Approach insolvency Cases

We follow a structured, transparent approach to every insolvency matter we handle:

1. Initial Consultation & Case Evaluation: We begin with a thorough, confidential consultation to understand your situation, review documents, and assess the legal merits of your case. This first meeting is free and carries no obligation.
2. Strategy Development: Based on our analysis, we develop a customised legal strategy. We explain your options, the likely timeline, potential outcomes, and costs — in clear, plain language.
3. Documentation & Filing: Our lawyers draft all necessary pleadings, petitions, applications, and supporting documents with precision, ensuring compliance with procedural rules and court requirements.
4. Court Representation & Advocacy: We represent you before the Calcutta High Court, district courts, tribunals, or relevant authorities — presenting your case with skill and determination at every hearing.
5. Follow-Through & Resolution: We do not stop at the judgment. We assist with execution of orders, enforcement of decrees, and any post-judgment matters to ensure you receive the full benefit of your legal victory.

Areas We Serve

Based at 14 Hare Street, Kolkata 700001, our insolvency lawyers serve clients across Kolkata and the broader West Bengal region, including Howrah, Hooghly, North and South 24 Parganas, Nadia, Burdwan, and other districts. We also represent clients in matters before the Calcutta High Court, district courts, and various tribunals across the state. For clients outside Kolkata, we offer remote consultations via phone, WhatsApp, and video calls.

Frequently Asked Questions — Insolvency & Bankruptcy

What is the IBC and how does it work?

The Insolvency and Bankruptcy Code (IBC) 2016 provides a time-bound process for resolving insolvency. When a corporate debtor defaults, creditors can file an application before the NCLT. If default is established, a resolution professional takes over management, and a resolution plan must be approved within 330 days.

What is the minimum default for filing under IBC?

The minimum default amount for filing a corporate insolvency application under IBC is Rs 1 crore (previously Rs 1 lakh). Operational creditors can file for any amount but must first send a demand notice under Section 8.

What is a moratorium under IBC?

Once insolvency is admitted, a moratorium is declared under Section 14, preventing all legal actions, recovery proceedings, and asset transfers against the corporate debtor. This gives breathing space for resolution without creditors racing to recover individually.

Can individuals file for bankruptcy under IBC?

Yes. The IBC includes provisions for personal insolvency (Part III), but these provisions are not yet fully notified. Individuals can currently file under the Presidency Towns Insolvency Act and the Provincial Insolvency Act, or under the IBC for guarantors of corporate debtors.

What happens if no resolution plan is approved?

If no resolution plan is approved within the timeline, the corporate debtor goes into liquidation. A liquidator is appointed to sell assets and distribute proceeds to creditors in the priority specified under Section 53 of the IBC.