Corporate insolvency initiation: operational creditor's application files CIRP with prescribed particulars and annexures to commence process.

Application by an operational creditor to initiate a corporate insolvency resolution process must provide prescribed particulars identifying the creditor and debtor, corporate details of the debtor, authorisations, and where applicable notification particulars; nominate a proposed interim resolution professional with registration details; quantify the operational debt with default date and computations; and attach documentary evidence of default including security and charge particulars, retention of title arrangements, adjudicating orders, information-utility records, succession documents, contractual basis, bank account details, and a list of supporting documents, together with required certifications, fee payment proof and proofs of service.

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