IBC · 7
Initiation of CIRP by financial creditor
A financial creditor may file an application for initiating CIRP against a corporate debtor when a default has occurred.
Library
Civil & Commercial
Insolvency and Bankruptcy Code, 2016
2016 · Parliament of India · 255 sections
Consolidates law on insolvency resolution and liquidation of corporate persons, partnership firms and individuals.
Most-invoked sections
IBC · 9
Application for initiation of CIRP by operational creditor
An operational creditor may, on the occurrence of default, deliver a demand notice and thereafter file an application.
The text shown is a working summary used inside Nyaya for grounding and UI preview. For verbatim reproduction, refer to the bare Act published on indiacode.nic.in.