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of <h1>Fast Track Corporate Insolvency Resolution: Application Process, Proof of Default, Eligibility Under Insolvency and Bankruptcy Code, 2016.</h1> An application for initiating a fast track corporate insolvency resolution process can be submitted by a creditor or corporate debtor. The application must include proof of default, as evidenced by records from an information utility or other specified means, and additional information as required by the Board to confirm the corporate debtor's eligibility for the process. These provisions are part of the Insolvency and Bankruptcy Code, 2016, and became effective from June 14, 2017.
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