Asia Capital Reinsurance (“ACR”), a global reinsurer specializing in structured reinsurance solutions, sought legal assistance in conducting insolvency and winding-up related searches against Punj Lloyd Limited (“PLL”). Majmudar & Partners advised ACR on the procedural and legal aspects of these searches conducted at the National Company Law Tribunal (“NCLT”), providing ACR with a clear understanding of the status of insolvency proceedings against PLL.
Assistance with Dispute Resolution
Majmudar & Partners’ legal guidance was pivotal in supporting ACR’s objectives. Key contributions included:
- Insolvency Searches and Data Analysis: Conducted extensive searches at the NCLT to determine if any insolvency or winding-up proceedings were initiated against PLL. Provided a detailed assessment of the public records, ensuring accurate and timely updates for ACR’s decision-making process.
- Verification of Legal Status: Verified the status and scope of all ongoing proceedings against PLL to ascertain potential recovery options for ACR and legal risks associated with the counterparties.
- Regulatory and Procedural Guidance: Advised on the procedural intricacies of filing claims or joining proceedings under the Insolvency and Bankruptcy Code, 2016. Offered guidance on the rights and obligations of creditors in such scenarios.
- Strategic Recommendations: Recommended a strategic course of action for ACR, including initiating and joining claims in the insolvency process to protect its financial interests.
The firm’s assistance enabled ACR to gain clarity on the status of insolvency and winding-up proceedings against PLL. Majmudar & Partners’ expertise in insolvency proceedings and dispute resolution ensured that ACR was well-informed and positioned to make sound legal and financial decisions.
Majmudar & Partners has a proven track record of advising clients on insolvency and dispute resolution matters in India. Contact us today to learn how our legal expertise can help you navigate complex corporate disputes and protect your business interests.