Corporate Insolvency Resolution Process (CIRP)
In the event where the Firm is critically facing financially difficult times, the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, tends to provide a structured approach within specified time limits. CIRP basically emphasizes the revival of the Firm by shielding the firm from any sort of litigation, appointing the Resolution Professional, and allowing the creditors to propose the feasible resolution plan. This approach does not immediately lead firms towards closure but helps in sustaining the values, jobs, along with reinstating the firm financially. SKMC Global assists the entire CIRP by analyzing the feasibility, handling the litigation process, interacting with various parties, along with guiding the firm towards the effective resolution.
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