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of <h1>Operational creditors must use Form 5 under Section 9 of IBC, 2016 to initiate insolvency against corporate debtors.</h1> An operational creditor must apply to initiate the corporate insolvency resolution process against a corporate debtor under Section 9 of the Insolvency and Bankruptcy Code using Form 5. The application must include necessary documents as specified in the 2016 regulations. Before filing with the Adjudicating Authority, the applicant must serve a copy of the application to the corporate debtor's registered office and the Board via registered post, speed post, hand delivery, or electronic means. This requirement was updated in 2020 to include electronic means and delivery to the Board.
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