Bankruptcy & Insolvency

AZB & Partners’ compelling reputation as a leading firm in this space is a result of its success with managing multiple complex refinancings, restructurings and insolvencies. The Firm’s leadership in the area is reflected by the appointment of founding partner, Bahram N. Vakil as member of the Bankruptcy Law Reforms Committee (‘BLRC’) constituted by the Ministry of Finance, Government of India.

The BLRC was entrusted with the task of drafting the policy and legislative framework for the Insolvency and Bankruptcy Code, 2016 (‘IBC’). Lawyers at AZB & Partners were also part of the drafting committees constituted for drafting several of the key IBC rules and regulations, which form the backbone of the operation of the IBC.

Our work includes:

  • Advising domestic and foreign companies investing in distressed companies undergoing insolvency proceedings
  • Counselling hedge funds on structuring investments into the Indian stressed asset space
  • Advising international and domestic banks on initiating IBC proceedings
  • Assisting insolvency professionals in proceedings against distressed companies
  • Defending writ petitions filed by distressed companies

Bahram Vakil has also been appointed to the Insolvency Law Amendment Committee (constituted by the Ministry of Corporate Affairs) to review implementation of the IBC and consider amendments to it.

The IBC and restructuring team at AZB & Partners comprises 40 lawyers across our Mumbai, Delhi and Bangalore offices. We have advised a number of domestic and international banks, funds, acquirers, distressed companies and industry professionals on the implications of the IBC and continue to advise on some of the largest and most complicated restructuring and insolvency matters under the IBC.


Bahram Vakil

Founding Partner

Mumbai e-mail Bahram