Resolution Professional / Bankruptcy Trustee Services

Beyond large corporate debtors, the Insolvency and Bankruptcy Code, 2016 also provides a framework for insolvency and bankruptcy of individuals, proprietorships, and partnership firms, and extends the role of the Resolution Professional to act as an administrator or trustee over the debtor's estate in these matters. In this capacity, the professional is responsible for taking custody of the debtor's assets, verifying claims of creditors, preparing a repayment or resolution plan, and ultimately overseeing distribution or discharge, all under the supervision of the Debt Recovery Tribunal or the relevant adjudicating authority. This estate-administration role requires the same rigour, independence, and procedural discipline as corporate insolvency work, adapted to the specific provisions applicable to individuals and firms.

Why This Matters

Individuals and partnership firms facing financial distress, and the creditors seeking recovery from them, both depend on a fair and competently administered process to reach a resolution that reflects the actual financial position of the debtor. Mismanagement of the estate, incomplete claim verification, or delays in reporting to the adjudicating authority can prejudice creditor recovery or unfairly burden a debtor seeking a fresh start, making the trustee's role central to the credibility and fairness of the entire proceeding.

How We Help

Estate Administration

We take charge of identifying, securing, and valuing the debtor's assets, maintain proper records of the estate, and ensure that assets are preserved and managed appropriately pending resolution or distribution.

Creditor Coordination and Claims Handling

We manage the receipt and verification of claims from creditors, maintain a clear and defensible record of admitted and rejected claims, and keep creditors informed of the status of the proceeding in line with the applicable regulations.

Repayment and Resolution Planning

Where a repayment plan or resolution plan is contemplated, we assist in structuring a plan that is realistic in light of the debtor's means and income, and that meets the approval requirements of creditors and the adjudicating authority.

Reporting to the Adjudicating Authority

We prepare and file the periodic reports, applications, and disclosures required under the individual insolvency and bankruptcy provisions, ensuring the process remains procedurally sound from initiation through closure.

Who Needs This

• Individuals or partnership firms facing insolvency or bankruptcy proceedings
• Creditors of individuals or partnership firms seeking structured recovery
• Personal guarantors to corporate debtors subject to insolvency proceedings
• Adjudicating authorities and courts requiring an independent administrator

Our Approach

We approach every estate administration engagement with impartiality toward all parties, careful documentation of every step, and clear, timely communication with creditors and the debtor alike. Our familiarity with the practical realities of individual and firm-level insolvency, alongside the statutory framework, allows us to move matters forward efficiently while safeguarding the interests of every stakeholder involved.

Get in Touch

To discuss how we can support you with resolution professional and bankruptcy trustee services, write to us at info@agarwalurs.com.