Insolvency proceedings for financial service providers established under new rules defining application process to adjudicating authority. The Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 establish procedures for initiating and conducting insolvency and liquidation proceedings for financial service providers and for making applications to the adjudicating authority, promulgated under the Code's rule making power and coming into force on publication in the Official Gazette.