Insolvency Services
Insolvency services provided by Saffron Multicon help businesses and individuals manage financial distress and insolvency proceedings. These services include guiding clients through Corporate Insolvency Resolution Processes (CIRP), asset liquidation, and bankruptcy filings. Saffron Multicon ensures compliance with legal frameworks and assists in restructuring or liquidating assets to resolve debts. Additionally, the company offers expert consultation for businesses and individuals seeking to navigate insolvency and return to financial stability.
Corporate Insolvency Resolution Process
SAFFRON MULTICON offers essential support services to partners appointed as Interim Resolution Professionals (IRPs) or Resolution Professionals (RPs) during the Corporate Insolvency Resolution Process (CIRP) of a corporate debtor. One of the key services provided by the company is through the Claim Verification Team. This team plays a crucial role in ensuring the accuracy and legitimacy of the claims made by creditors against the corporate debtor. They assess and verify the claims submitted by financial and operational creditors to ensure compliance with legal and regulatory requirements. The team thoroughly examines documents, contracts, and financial statements to validate the authenticity of the claims. They also help in resolving any discrepancies that may arise during the verification process, which is vital to maintaining transparency and fairness in the insolvency proceedings. Their efforts ensure that only valid claims are accepted, which is critical in determining the final distribution of assets. This service is part of SAFFRON MULTICON’s comprehensive approach to assisting in the CIRP, helping ensure the smooth functioning of the insolvency process and aiding in achieving an effective resolution.
Our Teams
1. Claim Verification Team
The Claim Verification Team at Saffron Multicon is responsible for inviting, receiving, and verifying claims from financial creditors, operational creditors, and other stakeholders during the Corporate Insolvency Resolution Process (CIRP). They ensure the accurate categorization of claims, verify documents, and maintain both physical and digital records. This team also provides similar services during liquidation, bankruptcy processes for individuals, and proprietorship concerns.
2. Front End Team
The Front-End Team at Saffron Multicon is trained to take control of the operations and assets of the corporate debtor. They ensure the protection of assets, supervise the debtor’s operations, and maintain order through physical and digital surveillance. This team also plays a role in the liquidation process by securing the debtor’s assets and businesses.
3. Corporate Insolvency Resolution Process Team
The CIRP Team at Saffron Multicon handles communication with stakeholders, coordinates the appointment of experts, and prepares the information memorandum for the resolution process. They also organize meetings of the Committee of Creditors (CoC) and facilitate the submission of resolution plans, ensuring timely resolution. The team ensures smooth coordination throughout the CIRP for corporate debtors, individuals, and firms.
4. Legal Team
The Legal Team at Saffron Multicon provides in-house legal support, ensuring compliance with the Insolvency and Bankruptcy Code (IBC) during CIRP and liquidation. They draft legal documents, handle petitions, assist in litigation, and liaise with external legal counsel to guide insolvency professionals in managing legal complexities.
5. Finance & Accounts Team
Saffron Multicon’s Finance and Accounts Team monitors the financial status of the corporate debtor, analyzes financial documents, and manages cash flow. They ensure that financial reporting and auditing processes are followed during CIRP and liquidation, providing essential data for decision-making and the effective management of corporate debtor assets.
6. Resolution Plan Facilitator Team
The Resolution Plan Facilitator Team at Saffron Multicon works to identify and attract potential resolution applicants for the Corporate Insolvency Resolution Process. They create business profiles, track leads, facilitate inspections, and provide necessary support to applicants to ensure the submission of resolution plans that can restore the debtor’s business.
7. Liquidation Process Team
The Liquidation Process Team at Saffron Multicon handles all aspects of the liquidation process, from communicating with stakeholders to organizing asset sales through e-auctions. They manage the appointment of professionals and ensure smooth liquidation by compiling reports and coordinating with all parties involved in asset disposal.
8. Asset Sale Team
The Asset Sale Team at Saffron Multicon is tasked with the efficient sale of the corporate debtor’s assets during the liquidation process. They prepare assets for sale, advertise them on multiple platforms, and manage the virtual data room for potential buyers, ensuring quick and profitable asset disposal to maximize stakeholder returns.
9. Human Resources Team
Saffron Multicon’s Human Resources Team provides skilled professionals to oversee the operations of the corporate debtor during CIRP and liquidation. They recruit industry experts and retired bankers to monitor cash flow and ensure the debtor’s business remains operational during the insolvency process.
10. Information Technology Team
The Information Technology Team at Saffron Multicon is responsible for maintaining the company’s hardware and software systems. They manage the uploading of important documents to the IBBI and corporate debtor websites, ensuring that all digital data is accurately handled and accessible during the insolvency and liquidation processes.
