FORM 05 - APPLICATION BY OPERATIONAL CREDITOR (S) TO INITIATE CORPORATE INSOLVENCY RESOLUTION PROCESS *UNDER CHAPTER II OF PART II/ UNDER CHAPTER IV OF PART II OF THE CODE
Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016
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Corporate insolvency resolution process initiation requires an operational creditor's application in the prescribed form under the IBC rules. An operational creditor initiates the corporate insolvency resolution process by filing the prescribed application Form before the adjudicating authority under the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, pursuant to sub rule (1) of rule 6; the form serves as the procedural instrument to present the creditor's claim and trigger commencement under the Code.
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Corporate insolvency resolution process initiation requires an operational creditor's application in the prescribed form under the IBC rules.
An operational creditor initiates the corporate insolvency resolution process by filing the prescribed application Form before the adjudicating authority under the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, pursuant to sub rule (1) of rule 6; the form serves as the procedural instrument to present the creditor's claim and trigger commencement under the Code.
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