Operational creditor initiation of insolvency requires a demand notice and no dispute response to trigger CIRP commencement. Initiation under section 9 requires an operational creditor to serve a demand notice or invoice and, if unpaid and no dispute is intimated within ten days, to file a prescribed application with supporting documents including the notice/invoice and an affidavit denying any dispute; the application may propose a resolution professional and the Adjudicating Authority must admit or reject within the prescribed period based on completeness, non-payment, proper service, absence of dispute records, and disciplinary status of the proposed professional.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Operational creditor initiation of insolvency requires a demand notice and no dispute response to trigger CIRP commencement.
Initiation under section 9 requires an operational creditor to serve a demand notice or invoice and, if unpaid and no dispute is intimated within ten days, to file a prescribed application with supporting documents including the notice/invoice and an affidavit denying any dispute; the application may propose a resolution professional and the Adjudicating Authority must admit or reject within the prescribed period based on completeness, non-payment, proper service, absence of dispute records, and disciplinary status of the proposed professional.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
