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of <h1>Operational creditors can start insolvency proceedings under Section 9 if debtors fail to pay within 10 days of notice.</h1> Under Section 9 of the Insolvency and Bankruptcy Code, 2016, an operational creditor can initiate a corporate insolvency resolution process if payment is not received from a corporate debtor within ten days of issuing a payment notice. The application must include an invoice, an affidavit of no dispute, and a financial certificate confirming non-payment. The creditor may propose a resolution professional. The Adjudicating Authority must decide within fourteen days to admit or reject the application based on completeness, payment status, and any disputes. If admitted, the insolvency process starts from the application date.
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