Voluntary corporate insolvency initiation: corporate applicants may file for CIRP when default occurs, subject to completeness and limitation. Voluntary initiation of corporate insolvency occurs when a corporate applicant files the prescribed application with required documents and fee, including books of account, particulars of the proposed resolution professional, and shareholder/partner approval, and the Adjudicating Authority admits a complete application where a default has occurred and no bar applies; the CIRP commences from the date of admission and applications are subject to applicable limitation principles.
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.
Voluntary corporate insolvency initiation: corporate applicants may file for CIRP when default occurs, subject to completeness and limitation.
Voluntary initiation of corporate insolvency occurs when a corporate applicant files the prescribed application with required documents and fee, including books of account, particulars of the proposed resolution professional, and shareholder/partner approval, and the Adjudicating Authority admits a complete application where a default has occurred and no bar applies; the CIRP commences from the date of admission and applications are subject to applicable limitation principles.
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