NCLT Lawyers in Ahmedabad & India — IBC, CIRP & Company Petitions
that decide companies.
Candour Legal appears before the National Company Law Tribunal in insolvency, oppression and mismanagement, and company petitions — for financial creditors, operational creditors, corporate debtors, promoters, resolution professionals and shareholders. We act before the NCLT Ahmedabad Bench and benches across India, with appeals carried to the NCLAT and the Supreme Court.
Who we act for
NCLT practice is side-specific — the strategy for a financial creditor seeking admission is the mirror of the strategy for a promoter resisting it. We act on both sides, which means we know the other side’s playbook before the first hearing.
Financial and operational creditors recovering defaults through Sections 7 and 9 of the IBC. Corporate debtors and promoters defending admission, negotiating pre-admission settlement, or pursuing withdrawal under Section 12A. Resolution professionals and the CoC through the corporate insolvency resolution process. Shareholders in oppression and mismanagement disputes under Sections 241 and 242 of the Companies Act. Companies seeking sanction of mergers and schemes of arrangement under Sections 230 to 232.
What we handle at the NCLT
Eight core workstreams, on the creditor side and the company side.
Section 7 & Section 9 admission petitions
IBC petitions for financial creditors (Section 7) and operational creditors (Section 9) — from the Section 8 demand notice through pleadings, evidence of default, and the admission hearing. The threshold question of default and debt is where these matters are won, and the petition is built around it.
Defending admission — corporate debtor side
Resisting admission on grounds of pre-existing dispute, defective notice, or absence of default; negotiating settlement before admission; and, after admission, pursuing withdrawal under Section 12A with the required 90% approval of the Committee of Creditors.
CIRP representation
Acting through the corporate insolvency resolution process — advising the Committee of Creditors, drafting and defending resolution plans, supporting resolution professionals on process questions, and appearing on applications that arise during the CIRP’s statutory timeline under Section 12.
Avoidance transactions
Applications concerning preferential transactions (Section 43), undervalued transactions (Section 45), extortionate credit (Section 50) and fraudulent or wrongful trading (Section 66) — prosecuting them for the estate, or defending directors and counterparties against them.
Personal guarantors
Insolvency proceedings against personal guarantors to corporate debtors under Section 95 of the IBC — acting for creditors invoking guarantees, and for guarantors facing them.
Oppression & mismanagement
Petitions under Sections 241 and 242 of the Companies Act, 2013 — shareholder disputes, exclusion from management, related-party diversion, and the interim reliefs that decide the balance of power while the petition is heard.
Mergers, demergers & schemes
Schemes of arrangement and amalgamation under Sections 230 to 232 — drafting the scheme, convening meetings, responding to regulator observations, and obtaining sanction.
NCLAT appeals & Supreme Court
Appeals to the National Company Law Appellate Tribunal under Section 61 of the IBC — filed within the 30-day limitation, with a further 15 days condonable — and onward challenges to the Supreme Court through our New Delhi chamber.
How an IBC matter typically runs
The sequence for an operational creditor — other routes vary, and we map yours at the first conference.
The operational creditor serves a demand notice; the corporate debtor has 10 days to pay or raise a pre-existing dispute. What happens in these 10 days often decides the matter.
The Section 9 petition is filed with proof of debt and default. The minimum default to invoke the IBC is ₹1 crore. Pleadings are where admission is won — we draft them for the bench that will read them.
The tribunal tests debt, default and dispute. Settlement discussions frequently run in parallel; many matters resolve at this stage on commercial terms.
On admission, the moratorium under Section 14 takes effect and the CIRP begins — 180 days, extendable, with an outer limit of 330 days under Section 12. We act through the process for whichever side we represent.
Orders are appealable to the NCLAT within 30 days, with a further 15 condonable. Appeal strategy is assessed the day the order is pronounced, because the clock runs from then.
Why Candour Legal for NCLT matters
Our head office is in Ahmedabad and we appear regularly before the NCLT Ahmedabad Bench, which hears matters for companies registered in Gujarat.
We file admission petitions and we defend them. Acting on both sides means we anticipate the opposing strategy rather than react to it.
We publish continuing analysis of the insolvency framework — IBBI regulations, NCLAT rulings, Supreme Court judgments — and it shows in the pleadings.
Most creditors want recovery, not a certificate of admission. We advise on when to press for admission and when a settlement conference recovers more, faster.
Frequently Asked Questions
What clients ask us about NCLT proceedings — answered directly.
What is the NCLT and what does it decide?
The National Company Law Tribunal is the forum for corporate insolvency under the Insolvency and Bankruptcy Code, 2016 and for company-law disputes under the Companies Act, 2013 — including oppression and mismanagement petitions, mergers and schemes of arrangement, and class actions. It sits in benches across India; the Ahmedabad Bench hears matters for companies with registered offices in Gujarat.
What is the difference between a Section 7 and a Section 9 petition?
Section 7 is the route for financial creditors — lenders, bondholders, assignees of financial debt. Section 9 is the route for operational creditors — suppliers, service providers, employees — and requires a prior demand notice under Section 8, which the corporate debtor can answer within 10 days by paying or by showing a pre-existing dispute. The existence of a genuine pre-existing dispute defeats a Section 9 petition; it does not defeat a Section 7 petition.
What is the minimum default for filing under the IBC?
₹1 crore. The Central Government raised the minimum default threshold under Section 4 of the IBC from ₹1 lakh to ₹1 crore by notification in March 2020, and that threshold continues to apply. Claims below it must be pursued through other routes — a civil suit, summary suit, or arbitration — which we also handle.
Can a company settle after an IBC petition is filed?
Yes, and it happens often. Before admission, the parties can settle and withdraw the petition. After admission, withdrawal requires an application under Section 12A with the approval of 90% of the Committee of Creditors. The practical window for a favourable settlement is widest before admission — which is why the defence strategy in the first weeks matters so much.
How long does the corporate insolvency resolution process take?
The Code prescribes 180 days from admission, extendable by up to 90 days, with an outer limit of 330 days including litigation time under Section 12. In practice, contested matters can run longer. During the CIRP, the moratorium under Section 14 stays suits and enforcement against the corporate debtor.
What is an oppression and mismanagement petition?
A petition under Sections 241 and 242 of the Companies Act, 2013 by shareholders complaining that the company’s affairs are being conducted in a manner oppressive to them or prejudicial to the company — exclusion from management, dilution engineered against a minority, or diversion of business to related parties. The tribunal’s powers under Section 242 are wide, extending to buyouts, board changes and setting aside transactions. Interim relief at the first hearing often decides the practical balance of the dispute.
Which NCLT bench will hear a matter involving a Gujarat company?
Jurisdiction follows the registered office of the company. Petitions concerning companies with registered offices in Gujarat are heard by the NCLT Ahmedabad Bench. Appeals from its orders go to the NCLAT and, on questions of law, to the Supreme Court.
Discuss your NCLT matter
Whether you are a creditor weighing an IBC petition, a promoter facing one, or a shareholder considering an oppression petition — the early strategy decides most of what follows. Start with a conference.
Discuss Your NCLT Matter →