CAREER PATHS / CORPORATE COMMERCIAL
Insolvency and IBC Lawyer
IBC lawyers advise financial creditors, operational creditors, resolution professionals and resolution applicants in Corporate Insolvency Resolution Process (CIRP) proceedings. The practice has grown enormously since the Insolvency and Bankruptcy Code was enacted in 2016.
Roles and Responsibilities
- Advising financial creditors on NCLT filings and CIRP initiation
- Representing resolution professionals and IRP
- Drafting resolution plans and advising resolution applicants
- Operational creditor claims and liquidation proceedings
- Cross-border insolvency and recognition of foreign proceedings
- IBC regulatory advisory and early warning structuring
Skills Required
- Insolvency and Bankruptcy Code 2016 and IBBI Regulations
- NCLT and NCLAT practice and procedure
- Financial creditor and operational creditor rights
- Resolution plan drafting and compliance
- IRP and RP appointment process
- Cross-border insolvency — UNCITRAL Model Law
Career Roadmap
1
Study insolvency law and company law during LLB
2
Intern with IBC-focused law firm or NCLT practitioner
3
Build NCLT appearance practice from junior years
4
Obtain Insolvency Professional (IP) registration from IBBI
5
Develop resolution plan drafting and transaction advisory skills
Salary Range
Junior (0-3 yrs)
Rs 7 to 15 LPA
Figures are indicative and vary by city, employer and experience.
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