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Initiation of corporate insolvency resolution process by financial creditor.

Section 7 - Act - CORPORATE INSOLVENCY RESOLUTION PROCESS - Insolvency and Bankruptcy Code, 2016 - Section 7 - 7. (1) A financial creditor either by itself or jointly with other financial creditors may file an application for initiating corporate ins .....

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pplicant financial creditor but to any other financial creditor of the corporate debtor. (2) The financial creditor shall make an application under sub-section (1) in such form and manner and accompanied with such fee as may be prescribed. (3) The fi .....

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as an interim resolution professional; and (c) any other information as may be specified by the Board. (4) The Adjudicating Authority shall, within fourteen days of the receipt of the application under sub-section (2), ascertain the existence of a de .....

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sub-section (2) is complete, and there is no disciplinary proceedings pending against the proposed resolution professional, it may, by order, admit such application; or (b) default has not occurred or the application under sub-section (2) is incompl .....

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