How Can I Transition from Litigation to Corporate Law and Build a Career in IBC?

This is a very achievable plan, and honestly, you’re thinking about it earlier than most students do. Coming from a non-legal family matters far less in corporate law and insolvency practice than it does in litigation — firms hire on demonstrated skill and internship performance, not connections. An NCLAT internship in your second year is already a strong start. Here’s how I’d approach the next few years.
Building the academic foundation

For IBC specifically, start with the bare Act itself — read the Insolvency and Bankruptcy Code, 2016 cover to cover at least once, along with the CIRP Regulations and Liquidation Regulations. The Code is short enough that this is genuinely doable. Then layer on the landmark cases, because IBC jurisprudence has largely been built by the Supreme Court: Innoventive Industries v. ICICI Bank (the foundational case on the scheme of the Code), Swiss Ribbons v. Union of India (constitutional validity), Essar Steel (committee of creditors’ commercial wisdom, distribution among creditors), Vidarbha Industries and the subsequent clarifications on Section 7 admission, Lalit Kumar Jain (personal guarantors), and Rainbow Papers along with the debate it triggered on government dues. Follow how these cases talk to each other — that’s what separates someone who “knows IBC” from someone who has read a summary.

For commentary, the standard references are the Taxmann and EBC commentaries on the Code, but honestly the most useful ongoing resources are free: IBBI’s website (their quarterly newsletters, discussion papers, and the reports of the Insolvency Law Committee, which explain the why behind every amendment), the BLRC Report of 2015 (the intellectual origin of the Code — read at least Volume I), and blogs like IndiaCorpLaw, Bar & Bench, and SCC Online’s tracking of NCLT/NCLAT rulings.

For the broader corporate law base, you need genuine comfort with the Companies Act, 2013 — particularly chapters on share capital, charges, management and administration, and winding up — plus the Contract Act at a level deeper than your coursework, the Transfer of Property Act basics (security interests matter enormously in insolvency), and working familiarity with SARFAESI and the RDB Act, since insolvency practice constantly intersects with them. Later, add SEBI regulations basics (especially the Takeover Code and delisting norms, which come up in resolution plans for listed companies) and a functional understanding of how to read financial statements. That last one is underrated: an insolvency lawyer who can read a balance sheet and understand what “default” looks like in the books is far more useful than one who can’t. A short online course in accounting for lawyers or even a basic financial modelling primer is worth your time.

Internship strategy

Think of your remaining years as a ladder. Your NCLAT stint gave you tribunal-side exposure; now get the other perspectives on the same practice. In rough order of priority: intern with a practising counsel or chamber that appears regularly before NCLT (Kolkata has an active NCLT bench, so this is accessible to you), then with insolvency professionals or IP entities — working with a resolution professional shows you the transactional and process side of CIRP that court internships never reveal, and very few students do this, so it stands out. Then target boutique insolvency and restructuring firms, and dispute resolution or restructuring teams at mid-size firms. In your final two years, aim for the tier-2/tier-3 firms you actually want to join — firms like Khaitan (if you stretch), Argus, Dhir & Dhir, MZM Legal, Juris Corp, Link Legal, and similar firms with strong banking, restructuring, or insolvency teams. Many tier-2 firms hire predominantly from their own internship pools through assessment internships or PPOs, so a strong performance in a penultimate-year internship is often the actual job interview.

Also intern at least once in a pure corporate/transactional team (general corporate or banking and finance) even if IBC is your goal, because resolution plans, security documents, and distressed M&A all require transactional skills, and firms want associates who can do both.

Profile building beyond internships

Write. Publish two or three well-researched pieces on live IBC issues — on IndiaCorpLaw, NLS Business Law Review, RGNUL’s or NLIU’s business law blogs, or even a solid LinkedIn/personal blog. A student who has written intelligently about, say, the treatment of homebuyers as financial creditors or the group insolvency framework signals genuine interest in a way a CV line never can. Participate in insolvency-focused moots (the IBBI moot, NLS-INSOL, and similar competitions) — moot experience in your chosen field is taken seriously. Consider the Graduate Insolvency Programme awareness too: you won’t do the GIP itself, but knowing IBBI’s ecosystem helps. And maintain a case-tracking habit — a simple personal document where you note significant NCLAT and Supreme Court IBC rulings each month will compound into real expertise by graduation.

One last reassurance: the anxiety about lacking a network is legitimate for litigation’s first years, but the corporate and insolvency hiring market genuinely runs on internship performance, drafting ability, and demonstrated subject knowledge. You have three-plus years to build all three, and you’ve already started. Stay consistent with IBC as your visible specialisation while keeping your general corporate fundamentals strong, and a good tier-2 offer is a very realistic outcome.

Dear Mentee,

Thank you for reaching out with your query.

Lets see how we can view the IBC practice and Corporate Law practice as you have asked. These get clubbed together but they are not the same thing. Corporate law, the way most firms use the term, means M&A, PE/VC deals, due diligence, joint ventures, shareholder agreements, competition law filings, FEMA compliance. It is mostly transactional work, you negotiate and draft, you don’t stand up in a tribunal. IBC is much closer to litigation. You appear before NCLT and NCLAT, file applications, contest admissions, fight over resolution plans and avoidance transactions. It has its own procedure and its own rhythm. A lot of good IBC lawyers actually come from a pure litigation background, not a corporate one. So when you say you want “corporate law and IBC,” know that you are pointing at two different skill sets that happen to sit next to each other. That’s fine, just don’t assume they’re the same road.

While I understand the niche you are trying to achieve and get into, I would personally not suggest that you lock in your target for the IBC practice so early on in your career. IBC is a fairly niche area, even within litigation circles, and second year is too soon to narrow down this much. Keep following your interest in it, but also explore other areas that are opening up right now, like competition law, regulatory and compliance work, and general corporate. Staying too narrow this early just limits your options later. You can always specialise in your 4th or 5th year once you’ve actually sampled a few areas and know what you like. While I say this, if you genuinely do feel like you want to follow through with this, I would always suggest you go for it.

What to read and study

• Take whatever electives your college offers that are close to this, like Company Law or Insolvency Law.
• Read the bare IBC Act itself, and keep up with amendments because this law changes often.
• Just this year, in April 2026, Parliament passed a major amendment to the IBC. It brought in a new creditor-initiated resolution process called CIIRP. Know developments like this well, it comes up in interviews and shows you’re actually following the space, not just repeating textbook IBC.
• LinkedIn is genuinely useful for this. Law firms put out client alerts, case notes and short articles that are more current and easier to read than any textbook.
• Follow NCLT, NCLAT, and Supreme Court judgments through sources like Live Law, Bar and Bench, IBC Laws, and SCC Online.
• Go to panel discussions and webinars when you can. IBBI and INSOL India run these regularly, and they’re also a good way to start putting faces to names in the field.

What internships to target

Don’t confuse a firm that “also does IBC” with a firm or chamber that actually focuses on it, most law firms treat IBC as just one vertical among many. What you actually want, over the next couple of years, is to intern with chambers or senior advocates who are regularly in NCLT and NCLAT, people representing RPs, creditors, or resolution applicants. You already have a foot in the door through your NCLAT internship, so use that to figure out names and reach out directly. Keep your earlier years broad, do both general corporate and litigation internships. Closer to your pre-final or final year, start applying specifically to Tier 2 or Tier 3 firms that have a dedicated restructuring or insolvency team.

What actually gets you placed is the depth of what you’ve done and who you’ve learned from, not how many internships are sitting on your CV.

I hope that this has helped, please reach out whenever in case of any clarifications or further guidance.

Your litigation background is actually an asset for IBC – IBC is 70% litigation. NCLT/NCLAT work needs people who understand both corporate concepts and court craft. So you are not starting from zero.

Since you are in 2nd year, you have 3+ years to build a very targeted profile for a Tier-2 / Tier-3 corporate firm.

Don’t start with heavy commentaries. Build in this order:

Company Law First – IBC will not make sense without it:*
1. Bare Act: Companies Act, 2013, IBC act and regulations
Follow MCA website, IBBI website – circulars, not just bare act
2. Blog: IndiaCorpLaw, The IBC Laws, ArcelorMittal blog by NLS – read weekly

Linked Laws –
Contract Law + SARFAESI + Transfer of Property [for security interest] + basics of Contract – Specific Relief. And basic Civil Procedure – Sec 9, Order 7/8 – because you will draft.

Do one thing consistently: Make a case-notebook. For every important NCLAT/SC judgement on IBC, write 1 page: Facts, Issue, Ratio, Why it matters. This becomes your interview material.

Skill required for IBC Practice

1. Drafting: Application u/s 7/9/10, Reply to 7/9, Resolution Plan summary, Due diligence note
2. Research:How to find if a debt is “financial” vs “operational”, Limitation in IBC,
3. Financial Literacy: Learn to read Balance Sheet, P&L, Cash flow basics. IBC is finance. Do a free course – NSE Academy’s Financial Statements, or Zerodha Varsity Modules.
4. Writing: Start writing 1 article per 2 months on IBC on LinkedIn / Manupatra / Mondaq.

Internship Strategy – Next 3 Years

You need to show a trajectory, not random internships. Since you already have litigation internships + NCLAT, do this:

Target: Insolvency Professionals / Boutique IBC firms / NCLT lawyers
Also apply for IBBI Research Internship – very valuable on CV.

Target: Tier-2 / Tier-3 firms with strong IBC / Restructuring practice.
Also: In-house legal team of a Bank [SBI Stressed Assets team] – you will learn how financial creditors think.
One long-term internship 4-6 months, 2 days a week during college with same  Tier-2 firm if possible. Conversion chances from long internships are higher than 1-month interns. And one final internship with the firm where you want a PPO.

What Firms Actually Look For

They are not looking for topper from NLU. They look for:
– Can you stay for 2 years? So show loyalty in internships
– Can you draft an IBC application without too much handholding?
– Have you shown genuine interest in IBC for 1+ year, not just one internship?

Certifications that help: IBBI Valuation Course, Certificate Course on Insolvency by ICSI / ICAI

Greetings!!

Transitioning between different practice areas can be a challenging task for lawyers. However, professionals continually find effective ways to navigate this shift. The early stages of your career are the best time to explore and determine the practice area you want to pursue for the rest of your life.

To build a strong foundation in corporate law and the Insolvency and Bankruptcy Code (IBC), I recommend focusing on the following:

– Reading and Study: Start by thoroughly reviewing the core provisions of the Insolvency and Bankruptcy Code, 2016, alongside the Companies Act, 2013. Reading recent, landmark judgments from the NCLT, NCLAT, and the Supreme Court will provide critical practical context. Additionally, following reputable legal blogs, corporate law journals, and updates from the Insolvency and Bankruptcy Board of India (IBBI) is highly beneficial.
– Internship Strategy: Target specialized internships with Tier-2 or Tier-3 law firms that have dedicated corporate and restructuring practices, or boutique firms solely focusing on IBC matters. You may also look for opportunities to intern under Insolvency Professionals or within the legal departments of corporate debtors and financial institutions to gain a comprehensive, 360-degree understanding of the practice.

I hope this guidance helps you navigate your career path effectively.

Dear Student/ Mentee,

Thank you for sharing your query — it’s a sensible question to be asking in your second year. At this stage, I would just advise you to study whatever you want, and while studying, also write Articles, Blogs, or any piece that you want. This exercise will enhance your knowledge in a particular field, and the pieces that you will write will help you in your future.

A few points to address both parts of your question:

On the litigation vs. corporate law dilemma

Don’t think of this as an irreversible fork. A large part of corporate law — especially IBC work — sits very close to litigation. NCLT and NCLAT are tribunals, and IBC practice involves drafting applications, appearing for hearings, and arguing matters, much like a court practice. Many Tier-2/Tier-3 firms with strong insolvency practices value candidates who are comfortable in a tribunal room, not just at a negotiating table. So your litigation internships aren’t wasted effort — they’re actually an asset for an IBC-focused career.

Building a foundation in corporate law and IBC

Statute first, commentary second. Read the Insolvency and Bankruptcy Code, 2016 cover to cover, along with the CIRP Regulations and Liquidation Process Regulations framed by the IBBI. Don’t skip the Regulations — a lot of practical IBC work turns on regulatory timelines and procedural requirements, not just the bare Code.

Case law that every IBC junior should know:

• Swiss Ribbons v. Union of India (constitutional validity of the Code)
• Essar Steel (Committee of Creditors v. Satish Kumar Gupta) (commercial wisdom of CoC)
• Innoventive Industries v. ICICI Bank (Section 7 admission)
• Vidarbha Industries Power and the subsequent clarifications (discretion under Section 7)
• Recent NCLAT and Supreme Court decisions on Section 9 disputes, personal guarantor insolvency, and pre-packaged insolvency

Apart from these judgments, do keep a watch on Live Law, Bar & Bench, Law Trend (and all other Legal News Websites/ Applications) and you will be able to see the recent trends around this particular law. This will definitely help you to keep pace with the others.
Internships to target

1. NCLT/NCLAT chambers or judges (you’ve already done this — build on it) — try to get a second stint in your 3rd or 4th year once you have more foundational knowledge, so you can extract more from it.
2. Insolvency Professional (IP) firms/entities — interning with a Resolution Professional’s office gives you exposure to the commercial and operational side of insolvency, not just the legal side, which is a real differentiator on your CV.
3. Boutique insolvency/restructuring litigation firms — these are often more generous with hands-on drafting work than larger firms, and Tier-2/Tier-3 firms specifically value candidates who’ve already drafted Section 7/9 applications, resolution plans, or claim forms.
4. Litigation chambers with a strong IBC docket — many senior counsel and law firms handling company law matters before the Delhi High Court and NCLT take interns; this bridges your existing litigation experience with your target area.
5. Consider at least one internship in general corporate/M&A to round out your profile — Tier-2/Tier-3 firms with insolvency practices often expect juniors to also handle transactional work, especially in the early years.

A practical note

Don’t over-specialize too early. Firms hiring at the entry level generally want to see a demonstrated interest in an area (which your NCLAT internship already shows) combined with solid all-round litigation/drafting skills. Use your remaining years to alternate between IBC-specific internships and general corporate/litigation ones, and try to publish a short article or case comment on a recent IBC judgment; it’s a way to demonstrate genuine engagement with the subject when you eventually interview.

Wishing you the very best for the rest of law school.