Please go through below Frequently Asked Questions to help you understand the Solvemint's offerings.
Solvemint is a web-based (Cloud-based) software which helps Insolvency Professional in India executing this insolvency project while following IBC 2016 code inline with NCLT, India's orders.
It is available on monthly and annual subscription for the Resolution Professional to use & ease their work.
Any Insolvency Professional (IP) aka Resolution Professional (RP) from India who is empaneled by (Insolvency & Bankruptcy Board of India (IBBI) can use the Solvemint Resolute to execute the CIRP process as per IBC 2016 and in case the Insolvency is not resolved then Solvemint can be used to Liquidate the same company while updating all the involved parties as per law.
No. Solvemint is an optional software to reduce your efforts, time, resources, and also streamline and structure the Corporate Insolvency Resolution Process.
You can always do your work without it, but it may become a big challenge when the creditors, shareholders, employees counts are in thousands. Imagine managing Jet Airways's CIRP without this software.
In short, to be more productive, structured, and to increase your work efficiency while complying with the ever changing law & regulations around Insolvency in India.
Yes. You can experience the product for a week before subscribing to it. No Credit Card is required to experience the product. Only condition for experiencing the product is that you should be an Insolvency & Bankruptcy Board of India (IBBI) empaneled IP or the employee of the Insolvency & Bankruptcy Board of India (IBBI).
First of all, there are very less chances that it may happen. And if due to any reason you didn't like it, you can always walk away without any liability or responsibility towards us. Since you are not required to update your Credit Card number with us during the free trial, there will be no payment for walking away.
Our payment will be done by Resolution Professional (RP) via Insolvent Company's Credit Card/Net Banking. In case, RP wants to use his/her Credit Card for billing purpose, we will still generate the Invoice in the Insolvent Company's name, and RP can claim the expense from the insolvent company against those invoices.
Trust & Security
Our Software is built using state-of-the-art technology framework and has SSL 256-bit encryption in place to ensure very high application layer security. Our software has also been audited by CERT-in empaneled Cyber Security Auditor for OWASP Top 25 Security Vulnerabilities and has been given clearance for the usage.
Yes. Our software uses SSL certificate to encrypt your communication with the server. So no one in between can read your messages at any cost.
Our servers are hosted to Google cloud which is world's leading & most secure cloud service. Your data is very safely stored in servers hosted in Mumbai region of the GCP keeping your data in India only.
Yes. All your data is being backed up regularly for a better recovery in case something goes wrong.
Once the insolvent company's insolvency is resolved or the company is finally liquidated, you can either export your data in your local computer or hard drive and keep it with you forever. Or you can keep the data with us in archival format on our servers till next 7 years without any additional cost to you and can any time come back and interact with the interface. You must be a paid customer for more than 1 year with us to enjoy the free archiving service for next 7 years.
You can just send us an email and request us to wipe out your project data from our servers forever. Please note once this is done, it will be irreversible.
No. We do not offer the consulting services. We only offer this Software-as-a-Service on a monthly subscription along with on-boarding (data import) service for Solvemint only.
Yes. We do offer limited one-time free assistance in importing the data to the Solvemint so that you can quickly start your work.
You can use your team to distribute the work among them or add the Insolvent company's accountant or finance team members to upload their data in the software one by one. In any case they are the best person to do that.
Yes. We offer pre-recorded as well as some instructor-led training for the IPs & RPs to understand how to use the product effectively.
You can also refer to our documentation to understand how to use Solvemint.
Solvemint is a Software-as-a-Service which means you don't have to buy the entire software's license to use it in your laptop. Rather you will pay a small monthly fees to use the software.
In case you go for the annual subscription you will get 2 months free and only pay for 10 months to utilise the software for full 12 months
If your payment fail in between you will see a warning on your dashboard and can continue using the software. However, we will remind you in case your payment gets fail in between and will also reach out to you via email & phone to update your Credit Card details or retry the payment.
In case we will not be able to reach out to you for 15 days after the payment is failed, we will put your account on hold and then you can only access your payment section in your account. In case your payment is not revived in next 6 months, we will archive your full account and remove your access completely.
To purchase the access to Solvemint, please submit the "Request A Demo" form and once of our team member will reach out to you.
We offer 1 week free trial of all our plans to ensure you experience the product before adding your Credit Card in the payment page. Since this is a monthly subscription service with free trial, we do not offer any refund.
You can just go to the Subscription page and cancel the subscription at any time. Once you cancel the subscription your project will enter the archive mode and will remain there for next 1 year. You can export your data to your local computer/hard disk if you want to and click flush all to remove everything from our server.
Depending on the plans & campaigns we are running we may offer discount time-to-time. You may check our blogs for any discount coupons we have or you may reach out to us directly for the coupon.
A Stakeholder is any contactable entity that you create or add in your Insolvent company. All Directors, Creditors, Shareholder, Employees whose entry has been created in the project will be counted as a stakeholders. For example, if you have 5 Board of Directors, 60 Shareholders, 300 Employees, 50 Creditors & 40 Vendors then your stakeholders count would be 455.
If E-Auctions & E-Votings are available in your plan then you don't have to pay anything extra for that. In case they are not available in your plan then you can buy additional E-Auctions & E-Voting by sending email to us at [email protected]
Still have Questions? then