Form No. Form 1 - APPLICATION BY APPROPRIATE REGULATOR TO INITIATE INSOLVENCY RESOLUTION PROCESS UNDER THE CODE-Rule 5- Insolvency Resolution and Liquidation Proceedings
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Corporate insolvency resolution application: regulator must submit Form One with prescribed particulars, proposed administrator, and annexures. An appropriate regulator must submit Form One under Rule 5 to initiate a corporate insolvency resolution process, providing the regulator's and authorised ... Summary
Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019
Corporate insolvency resolution application: regulator must submit Form One with prescribed particulars, proposed administrator, and annexures.
An appropriate regulator must submit Form One under Rule 5 to initiate a corporate insolvency resolution process, providing the regulator's and authorised representatives' particulars, the financial service provider's identification, incorporation and capital details, registered office, the proposed Administrator's name and contact, and particulars of default. The application must include annexures: all referenced documents, the proposed Administrator's written consent to act as interim resolution professional, and proof of payment of the application fee, together with required authorisations for submission and service.
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