Representation for financial creditors now permits notified persons to file insolvency applications on their behalf. The amendment replaces the words 'other financial creditors' in section 7(1) with 'other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government,' thereby creating a statutory basis for notified persons to act and submit insolvency initiation applications on behalf of financial creditors.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Representation for financial creditors now permits notified persons to file insolvency applications on their behalf.
The amendment replaces the words "other financial creditors" in section 7(1) with "other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government," thereby creating a statutory basis for notified persons to act and submit insolvency initiation applications on behalf of financial creditors.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.