Q&A | Ranit Basu | Insolvency

Hi, I am Ranit Basu. I’m an advocate practicing in Mumbai in India. And my specialization mainly focuses upon insolvency and bankruptcy practices in India along with arbitration practice in India as well as cross-border arbitration dispute. I head a law firm called Bridgehead Law Partners. I head the litigation team in Bridgehead Law Partners. And we are a small upcoming law firm which provides complete service to in various fields and domains with pertaining to litigation as well as corporate law practices. I focus in litigation which involves advising my

clients with regards to a strategy oriented approach in resolving disputes. In addition to that, I provide them with solution with solutions with regards to a quick and speedy resolution of commercial disputes in various fields and forums.

I believe that considering there considering there being a lot of judicial tendencies prevalent in India, it is important to have a strategydriven approach and advisory prior to initiation of any steps to be taken with regards to any impending litigation matter. It is important to apprise the apprise your clients with regards to what are the various rigma roles that can happen and where it is important to take a step backwards or deal in a effective strategy oriented manner is something that I take pride in

and it the advisory work as well as as well as ensuring that the client gets the optimum utilization of the services being provided by the firm. is an important p important part of our value system as well as the struct structure and strategy involved in the service providing business that we have. So that I think is something which stands out because we for every every issue that comes before us we have a effective curated solution that we bring up. what works for works in other circumstances

necessarily is not required to work in a specific circumstance. So we curate solutionoriented approach and that is what I think has ensured our survival for so long and that is something which is going to play a pivotal role in future as well.

As I as my practice primarily focuses on insolvency and bankruptcy as well as commercial disputes. Majorly my clients are corporates, financial institutions as well as resolution applicants who are admin courtapp appointed administrators under the insolveny bankruptcy code prevalent in India and with regards to the work that is involved in this entire process. It involves advising the financial institutions with regards to debt recovery. It also involves financial reissociation as well as apprising the stakeholders litigants with regards to the practical impediment as well as obligations that

are involved in approaching every litigation that comes on the way. And in in these aspects what happens is that in India the problems of non-performing assets as well as the bad debts it has the problem has always remained and it has become quite rampant over the years.

Therefore, it becomes important for us to ensure that recovery mechanisms as well as advice with regards to any wrongful demands raised against a person who eventually does not owe the money that in that advisory as well as effective research which is required to be done to represent their case in the best possible manner is something that is involved.

With respect to the manner in which the legal ecosystem is structured in our country, it is not correct from our end to bifurcate high stake cases and low stake cases. We have to take up and deal with every everything that falls in our kitty with equal endeavor. But saying that I think I have about more than 15 reported judgments on various provisions of law which involves insolveny and bankruptcy code which involves income tax act which also involves arbitration law with respect to certain important cases without specifically pinpointing

on the clients that I have represented. I would say that I have argued matters successfully in bringing in recovering amounts which run in millions of dollars pertaining to default arising with regards to supply of steel.

In addition to that, I have also argued important points of law with respect to what all matters what all matter arbitral awards which have which on appeal what are the grounds on which the appeal can be sustained because there are very limited provisions and yeah limited provisions within which an appeal can sustain. So the grounds which I had taken had an impact and on that basis I have been able to obtain obtain appropriate favorable orders for my clients. In addition to that moving aside from

commercial disputes I had represented students who whose qualification decrees were withheld by the college. So we filed a case in the Bombay High Court and ensured that they get back their wrongfully withheld college degrees. So those were certain career highlights. In addition to that I in respect to cross-border disputes I have successfully represented European clients with regards to the applicability of a foreign judgment in India. In addition to that, I have single-handedly argued arbitration matters in a domestic dispute pertaining to Sri Lanka and

successfully represented my client in defending the decision taken by my clients not to not to pay the money that was set to be owed by them. So these are few aspects which I have successfully represented. In addition to that there are various other cases also where I’ve not been that successful but that remains part of the profession

with regards to in the past few years it has become evident that there has been an increasing international dimension to commercial disputes and my core area of practice is commercial disputes. Therefore, it is important for me to establish effective collaboration with with lawyers and practical practitioners across various jurisdiction over over all in various parts of the world. Therefore, it that is one of the factors that I have joined global law experts and I feel that the the by interacting with people

based out of different jurisdiction, different countries, I in addition to the professional growth that obviously comes with it, it also gives me an exposure sitting in my own office without traveling there. Those exposures will play a crucial and pivotal role in bringing in the work culture that is that has been successful in other places within my firm struck within my organization and that can also play an important role in the growth of the firm. So that is one of the reasons why I have joined global law experience.