Service of insolvency applications now requires serving the corporate debtor and the Board before filing, and updates forms. Amendments require applicants to serve a copy of the insolvency application to the registered office of the corporate debtor and to the Board by registered post, speed post, by hand or by electronic means before filing with the Adjudicating Authority; Forms 1, 2, 5 and 6 are revised to record service and fee payment, new annexures for proofs of service are added, Form 2 expands disclosure of professional assignments, and a new Form 5A certifies bank credits as evidence for operational creditor claims.
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Service of insolvency applications now requires serving the corporate debtor and the Board before filing, and updates forms.
Amendments require applicants to serve a copy of the insolvency application to the registered office of the corporate debtor and to the Board by registered post, speed post, by hand or by electronic means before filing with the Adjudicating Authority; Forms 1, 2, 5 and 6 are revised to record service and fee payment, new annexures for proofs of service are added, Form 2 expands disclosure of professional assignments, and a new Form 5A certifies bank credits as evidence for operational creditor claims.
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