Corporate Insolvency Resolution Process (CIRP)

 Corporate Insolvency Resolution Process (CIRP)
Vision Defined. Insolvency Solved.

Ashcons Unisers is a team of senior professionals and ex-bankers with over 100 years of collective experience across banking, finance, law, and industry. We specialize in providing strategic, legal, and operational support under the Insolvency and Bankruptcy Code (IBC), 2016 — with a focus on meaningful resolution to stressed assets.

Our team includes:
✅ Insolvency Resolution Professionals (IRPs)
✅ Chartered Accountants (CAs)
✅ Company Secretaries (CSs)
✅ Cost Accountants (ICWAs)
✅ MBAs, Advocates, and Sector Experts

We bring deep industry knowledge and financial insight to every stage of the CIRP.

Our CIRP Services

• Preparation & Presentation of Resolution Plans (for MSME Promoters & Investors)
  Financial & Legal Due Diligence (for Resolution Applicants)
  
  

• Transaction & Forensic Audits (for Banks/RPs)
  Response & Compliance Support (for Corporate Debtors/CDs)
  
  

CIRP Process – Step-by-Step

Step 1: Application to NCLT
The process begins with an application to the National Company Law Tribunal (NCLT) by a financial/operational creditor or the corporate debtor. Default amount must exceed ₹1,00,000.

Step 2: Interim Resolution Professional & Moratorium
Once admitted, management is taken over by an Interim Resolution Professional (IRP), and a moratorium is imposed on legal actions, asset transfers, and recovery proceedings.

Step 3: Verification of Claims
The IRP verifies and classifies creditor claims and forms the Committee of Creditors (COC) within 30 days.

Step 4: Appointment of Resolution Professional
The COC either confirms the IRP as the Resolution Professional (RP) or appoints a new RP.

Step 5: Approval of Resolution Plan
A Resolution Plan must be submitted and approved within 180 days (extendable to 270 days). If approved and sanctioned, it becomes binding. Otherwise, the company proceeds to liquidation.

Liquidation Process

If no resolution plan is approved:
➡️ The NCLT orders liquidation
➡️ COC appoints a liquidator
➡️ Asset distribution is made as per Section 53 of IBC 2016

We support all stakeholders—creditors, investors, and corporate debtors—through every stage of liquidation.

Why Choose Ashcons Unisers?

✔ Unmatched IBC Knowledge
✔ Ex-Banker & Legal Team Advantage
✔ Transparent Processes
✔ End-to-End Support

Looking for Corporate Insolvency Resolution Companies in India or trusted CIRP Advisors? Ashcons Unisers is your dedicated partner. Contact us for Corporate Insolvency Resolution, Fast Track Insolvency, Legal & Financial Due Diligence, and Forensic Audits.