India’s incipient battle against bankruptcy is spawning new ideas – and career options. After India enacted tougher laws to deal with sticky loans and the central bank stepped in accelerate the pace of recoveries, finance executives have stumbled upon a career-growth opportunity based on insolvency.
Insolvency Professionals or Insolvency lawyer are certified professionals who help companies and individuals who become insolvent or are under substantial financial burden. These professionals work with the directors of the companies, debtors, etc. and advise them on the insolvency procedures. Comprehensively, they also help maximize the returns for the stakeholders and creditors. Apart from participating in the liquidation process, Insolvency professionals play different roles, like an Administrator, Supervisor or nominee, or a trustee in bankruptcy for the Insolvency Bankruptcy Code proceedings.
To become an insolvency lawyer one must have previous experience in law and must be a graduate in law.
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