https://www.taxtmi.com/article/detailed?id=7661 Initiation of CIRP may be by financial, operational or corporate creditors subject to proof of default and prescribed procedural prerequisites; the adjudicating authority must, within a statutory window, admit or reject the application, and on admission declare a moratorium, appoint an interim resolution professional, require public notice and claim submissions, and enable constitution of the committee of creditors which oversees appointment of the resolution professional, consideration of resolution plans and any approved plan's implementation, while failure to complete resolution within the prescribed timeframe leads to liquidation and distribution of proceeds under the statutory priority waterfall. en-us Wed, 11 Oct 2017 06:05:44 +0530 Wed, 11 Oct 2017 06:05:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7661 Initiation of CIRP may be by financial, operational or corporate creditors subject to proof of default and prescribed procedural prerequisites; the adjudicating authority must, within a statutory window, admit or reject the application, and on admission declare a moratorium, appoint an interim resolution professional, require public notice and claim submissions, and enable constitution of the committee of creditors which oversees appointment of the resolution professional, consideration of resolution plans and any approved plan's implementation, while failure to complete resolution within the prescribed timeframe leads to liquidation and distribution of proceeds under the statutory priority waterfall. Articles Corporate Laws / IBC / SEBI Wed, 11 Oct 2017 06:05:44 +0530 https://www.taxtmi.com/article/detailed?id=7661