Corporate insolvency initiation: financial or operational creditors, or the corporate debtor, may trigger resolution leading to plan submission and approval. Persons entitled to initiate a Corporate Insolvency Resolution Process are financial creditors, operational creditors and the corporate debtor, including assignees of such debts. The statutory framework establishes sequential stages: filing before the adjudicating authority, admission or rejection, moratorium and public announcement, appointment of Interim and Resolution Professionals, formation of the Committee of Creditors, preparation and circulation of the information memorandum, solicitation and shortlisting of resolution applicants, issuance of request for resolution plan, submission of resolution plans, and approval or rejection by the Committee of Creditors and the adjudicating authority.