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of <h1>Corporate Insolvency Resolution Process Initiated by Creditors or Debtor Under Insolvency and Bankruptcy Code, 2016</h1> Under the Insolvency and Bankruptcy Code, 2016, if a corporate debtor defaults, the corporate insolvency resolution process can be initiated by a financial creditor, an operational creditor, or the corporate debtor itself. This process is to be conducted as outlined in the relevant chapter of the Code. These provisions came into effect on December 1, 2016.
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