Restructuring/Insolvency
Asia-Pacific Guide 2024 : India
Band 2
Email address
[email protected]Contact number
+91 22 4341 8600About
Provided by JSA
We have been at the has been at the forefront of the new insolvency law and has been involved in almost all major cases of insolvency under the new law. JSA continues to play an active role in shaping the constantly evolving insolvency law and policy in India.
Our experience covers the entire range of this practice, starting from restructuring under formal and informal procedures towards revival for corporates with early signs of distress, to processes involving actual liquidation and winding down of businesses. We advise clients at the pre insolvency stage or during the corporate insolvency resolution process (advising the committee of creditors/the resolution professional), to acquisition of the stressed asset via an insolvency process.
Our team has been involved in several corporate insolvency resolution processes (“CIRP”) that have commenced under the Insolvency and Bankruptcy Code, 2016 (“IBC”) as well as several out of court restructurings under the framework of the Reserve Bank of India (“RBI”) for restructuring of stressed assets. Our lawyers are well versed in corporate law, exchange control regulations and banking regulations, and work in collaboration with specialists from our capital markets & securities, M&A, projects & infrastructure and real estate practices. This collaborative approach, combined with our sectoral expertise enables us to provide seamless service and in-depth legal advice and solutions on all aspects of insolvency and debt restructuring.
Chambers Review
The established group of lawyers at JSA often handles insolvency cases for creditors' committees, joint lenders' forums and resolution professionals in sectors such as steel, energy, finance and textiles. Alongside advising on the administering of resolution plans, it also represents clients in related litigation. The firm counts Standard Chartered Bank and India Infrastructure Finance Company among its clientele.
Work Highlights
- JSA advised the joint lenders' forum led by Bank of Baroda on the debt resolution processes of Reliance Commercial Finance and Reliance Home Finance, under the auspices of a new, specialised debt resolution mechanism introduced by the Central Bank of India.
Strengths
Provided by Chambers
"Their client engagement and ability to build their knowledge and expertise runs through the ranks."
"They are a strong team with hands on knowledge on all matters."
"Their client engagement and ability to build their knowledge and expertise runs through the ranks."
"They are a strong team with hands on knowledge on all matters."
Notable Practitioners
Dina Wadia is an experienced and highly regarded lawyer based in Mumbai. She frequently acts for committees of creditors, as well as syndicates of lenders and resolution professionals, on debt resolution proceedings.
Aashit Shah has a robust Mumbai-based practice acting for committees of creditors and lenders on insolvency and bankruptcy processes. He also advises resolution applicants and resolution professionals on CIRPs.
"He is very commercially sound and has a lot of knowledge on both debt and equity. Aashit wants to get deals through and focuses on what the client wants."
Varghese Thomas co-chairs the disputes practice at JSA and is noted for his experience advising on CIRPs, including NCLT applications. He regularly acts for resolution professionals and lenders, and recent work has involved insolvencies in the aggregates, water and energy industries.
"His ability to analyse and focus on the key issues and his understanding of restructuring and insolvency procedure in India really help provide solutions. I find him very approachable, and he patiently explains everything and walks people through the issues at hand."