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of <h1>Definition of 'Corporate Applicant' in Section 5(5) of Insolvency and Bankruptcy Code, 2016: Debtor, Member, Manager, or Financial Overseer.</h1> A 'corporate applicant' under section 5(5) of the Insolvency and Bankruptcy Code, 2016, is defined as either the corporate debtor itself or a member or partner authorized to apply for insolvency resolution. It can also refer to an individual managing the operations and resources of the corporate debtor or a person overseeing its financial affairs.
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