Insolvency (IBC)
NCLT petitions, resolution plans, and a 270-day clock that moves whether you're ready or not.
A day, honestly described.
A Section 7 petition under the IBC was admitted last week; you are on the financial-creditor side. The 14-day deadline for inviting expressions of interest is closing tomorrow. You are coordinating with the resolution professional on the information memorandum, drafting the Form A invitation, and handling a parallel writ petition by the corporate debtor's promoter trying to challenge admission. The 270-day clock is running and nothing about it is theoretical.
IBC practice runs at a specifically Indian pace — fast in form (statutory timelines are aggressive), slow in substance (NCLT benches are over-burdened, adjournments are common). You will spend significant time at the NCLT, which is procedurally a court but adjudicatorily a specialist tribunal. You will read CIRP regulations, the IBC Code itself, the IBBI regulations, and an expanding body of NCLT and NCLAT jurisprudence.
The work splits into creditor-side practice (financial creditors filing Section 7, operational creditors filing Section 9, resolution applicants bidding for stressed assets), debtor-side practice (corporate debtor defence, promoter writ petitions, scheme negotiations), and resolution-professional advisory (committee of creditors process, information memorandum, resolution plan vetting).
Where the work happens. Who hires. What you'll be paid.
Where the work happens
Recruitment pathway
IBC teams at Tier-1 firms recruit through standard PPO funnels. The practice is one of the youngest in the Indian legal market — the IBC came into effect in 2016 — which means partner-track timelines are shorter than in established practices like M&A or litigation.
A summer with an IBC team is the strongest signal. Familiarity with insolvency frameworks in other jurisdictions (Chapter 11, UK Insolvency Act) is unusual at student level and signals seriousness. Published commentary on recent NCLAT or Supreme Court IBC decisions carries weight.
First-year vs senior associate
Drafting Section 7 / 9 petitions under partner review, preparing information memoranda with the resolution professional, attending NCLT mentions on procedural matters. You will read CIRP regulations end-to-end in your first month. You will not lead.
You draft and file Section 7 / 9 petitions in your own name. You appear before the NCLT on second-tier matters. You advise resolution applicants on bid structuring. You handle promoter-side writ challenges before the High Court with the senior's sign-off on argument strategy.
Compensation bands (approximate)
What law students consistently lack — and how to fix it.
Each gap below is something we have heard from Insolvency (IBC) hiring partners. The simulation column is what closes it before your first internship.
Drafting a Section 7 or Section 9 petition that survives a Section 7(5) admission challenge — students have not seen one and the procedural strictness is unfamiliar.
The Iura IBC simulation walks you through a Section 7 fact pattern; the model answer flags the procedural defects that cause real-world rejections.
No exposure to a real resolution plan — yet plan vetting is a core associate task on the resolution-applicant side.
A plan-vetting task with a real-shape resolution plan and a senior's annotated review.
Inability to map the CoC voting threshold dynamics — the 66% threshold for plan approval, 51% for ordinary matters, the dissenting-financial-creditor mechanic — students treat these as abstract.
A CoC scenario with a fact pattern that turns on threshold mathematics.
Work your first insolvency (ibc) brief — free, in your browser, in 45 minutes.
We're shipping Insolvency (IBC) simulations soon. In the meantime, try one of our published simulations to see the format.
Browse simulations →Get the full Insolvency (IBC) career guide.
Six pages: firm rankings, internship timeline, the skills checklist, salary bands. Sent as a PDF.
One email today, then four more over two weeks. Unsubscribe in one click.
IBC practice is the youngest serious commercial-disputes track in India and one of the fastest-growing. Partner-track timelines are shorter than in M&A or general litigation. If this is your area, intern with a Tier-1 IBC team in 3rd-year summer and read every NCLAT decision from the last twelve months before you arrive.