Section 9 - Application for initiation of corporate insolvency resolution process by operational creditor.

Operational creditor application: initiation of corporate insolvency process follows verified non payment and absence of dispute notice.

An operational creditor may file for initiation of the corporate insolvency resolution process if, after serving a demand notice or invoice, payment or notice of dispute has not been received. The application must be in prescribed form with fee and accompanied by the invoice/demand notice, an affidavit of no dispute, and available proof of non-payment such as a financial-institution certificate or an information-utility record; a proposed interim resolution professional may be named. The Adjudicating Authority shall, within the decision period, admit the application if it is complete, non-payment and delivery are established, no dispute exists in notice or information utility, and no disciplinary proceeding is pending against the proposed professional; otherwise it shall reject the application with specified procedural safeguards.