When Your Customer Doesn’t Pay

If a customer fails to pay their outstanding amount, you—as a creditor—can apply to the NCLT to start insolvency proceedings.

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Process in simple steps:

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1. You send a demand notice for the unpaid dues.

2. A Committee of Creditors (CoC) is formed.

3. A Resolution Professional (RP) is appointed to create a repayment plan.

 

If no repayment plan is approved, the customer’s company may go into liquidation, and debts are paid as per priority.

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You Can Still Recover Your Money

With the help of a professional insolvency service provider, you can manage the process smoothly and increase the chances of recovering your pending dues.

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