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of <h1>Operational Creditor Can Initiate Insolvency Resolution Under IBC by Delivering Demand Notice; Authority Decides in 14 Days.</h1> The process for initiating a corporate insolvency resolution by an operational creditor involves delivering a demand notice and invoice to the corporate debtor, as per the Insolvency and Bankruptcy Code (IBC). If unpaid after 10 days, the creditor can apply to the Adjudicating Authority using prescribed forms and fees. The application must include specific documents, and a resolution professional may be proposed. The Authority decides on admission or rejection within 14 days, considering factors like completeness and disputes. Judicial interpretations clarify procedural nuances, emphasizing the importance of documentation and the non-litigious nature of the process.
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