The firm advised one of the leading business conglomerate of India and its diverse subsidiaries including core and non-core industries for all coal related matters including coal linkages. Four companies of the group, a Coal trading company, a power plant (120 MW coal based power plant, located at Maharashtra), a cement plant (located at Karnataka) and the ultimate holding company are in severe financial distress and have defaulted in payment of dues to their secured creditors. The firm offered legal advice to address their financial distress and seek a resolution in accordance with the provisions of the Insolvency & Bankruptcy Code, 2016. The firm monitored filing the application before the NCLT Mumbai & Kolkata and is also representing them before the said Adjudicating Authorities. The assignment encapsulates strategizing and preparation of a resolution plan which would address the debt of approximately ` 3500 crore spanning across 15 lenders, while dealing with several securities and cross guarantees of various group companies.