Last updated: 14 Oct 2026

Virtual Auditor

Section 7 NCLT Application Consultant

Last updated: 14 Oct 2026

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Quick answer: This service provides IBBI-compliant valuation reports and resolution plan viability assessments for Section 7 NCLT applications under the IBC 2016. It is intended for Resolution Professionals and applicants involved in insolvency proceedings. Preliminary valuation estimates can be delivered within 5 working days for urgent NCLT filing requirements.

Looking for expert section 7 nclt application consultant? Virtual Auditor provides practitioner-grade ibc services in India, led by CA V. Viswanathan — IBBI Registered Valuer (IBBI/RV/03/2019/12333) | Fellow Chartered Accountant (FCA) | Associate Company Secretary (ACS). We combine deep regulatory expertise with hands-on execution to deliver results within your timeline.

What is Section 7 NCLT Application Consultant?

What We Deliver

IBBI-compliant valuation report — fair value and/or liquidation value as required under CIRP/liquidation regulations. Resolution plan viability assessment with going concern and break-up analysis. Compliance certificate for NCLT filing confirming adherence to IBC valuation standards. Detailed methodology documentation with assumptions and sensitivity analysis. Expert opinion / testimony support for NCLT hearings.

Our Process

Step 1: Engagement with RP/applicant — scope, timeline, valuation date. Step 2: Data collection — financials, asset schedules, claims register. Step 3: Multi-method valuation — going concern, orderly liquidation, forced sale. Step 4: Draft report review with RP/CoC. Step 5: Final IBBI-compliant report delivery for NCLT filing.

Timing is critical in insolvency proceedings. The CIRP timeline of 180 days (extendable to 330 days) leaves no room for delays in valuation. We prioritise IBC engagements and can deliver preliminary valuation estimates within 5 working days for urgent NCLT filing requirements, followed by the detailed report within the standard timeline.

Get Started Today

Ready to engage Virtual Auditor for section 7 nclt application consultant? Contact us for a free initial consultation:

Call/WhatsApp: +91-99622 60333

Email: support@virtualauditor.in

Offices: Chennai | Bangalore | Mumbai

No obligation. We will assess your requirements and provide a clear scope, timeline, and fixed-fee quote within 24 hours.

Frequently Asked Questions

Is an IBBI registered valuer mandatory for IBC valuations?
Yes. Under the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, the Resolution Professional must appoint a registered valuer (IBBI registered) to determine fair value and liquidation value. CA V. Viswanathan holds IBBI registration IBBI/RV/03/2019/12333.
What is the difference between fair value and liquidation value?
Fair value is the estimated realisable value assuming the company continues as a going concern with reasonable market exposure. Liquidation value is the estimated realisable value if assets are sold individually on an as-is, where-is basis under a forced sale scenario. Both are required under IBC.
How long does an IBC valuation take?
Typically 7-15 working days from receipt of complete data. The CIRP timeline is strict (180 days extendable to 330 days), so we prioritise insolvency valuations and can accommodate urgent timelines. Contact us at +91-99622 60333.
Which insolvency, dispute or valuation work is needed at this stage, and who is qualified to undertake it?
In a corporate insolvency resolution process, the insolvency professional runs the process. The resolution professional appoints two Registered Valuers for each asset class to determine the fair value and the liquidation value of the company’s assets (CIRP Regulations 27 and 35), and these values guide the committee of creditors. The resolution professional must also examine preferential, undervalued, fraudulent and extortionate transactions (sections 43, 45, 50 and 66 of the Code), which often needs a forensic review. In liquidation, assets are valued again before sale. Before the NCLT, chartered accountants, company secretaries, cost accountants and advocates may appear (Companies Act, section 432). We act as Registered Valuer for securities and financial assets and do the forensic transaction review.

Related Services

Section 9 NCLT Operational Creditor FilingDormant Company Application IndiaFEMA Compounding Application ConsultantGST Refund Application ServiceScheme of ArrangementFair Value Liquidation Value NCLTGST Advance Ruling ApplicationSection 8 Company (NGO) Registration

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Ready to Get Started?

Free 30-minute consultation with CA V. Viswanathan, FCA, ACS, CFE, IBBI RV. No obligation.

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What the law says — s.7, Insolvency and Bankruptcy Code 2016

A financial creditor may apply to the NCLT to initiate CIRP against a corporate debtor on default of Rs 1 crore or more, filing the record of default from the information utility or other evidence and proposing an interim resolution professional. The NCLT admits the application on being satisfied that a default exists.

How does the procedure work?

  1. Establish the financial debt and the default of Rs 1 crore or more
  2. Obtain the record of default from the information utility
  3. Propose an IRP with written consent in Form 2
  4. File Form 1 with the fee before the jurisdictional NCLT bench
  5. Serve the corporate debtor and argue admission
Time limitNCLT to decide within 14 days of receipt (directory); CIRP timelines run from admission
FormsForm 1; Form 2 (IRP consent); record of default
Consequence of defaultApplication in bad faith is penalised under s.65

Leading cases: Innoventive Industries Ltd v. ICICI Bank (2018) 1 SCC 407 (SC)

Source: Insolvency and Bankruptcy Code, 2016. Last reviewed 2026-10-14.

Which laws govern this service? — Insolvency

The statutory provisions this service is delivered under, linked to the official text:

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