https://www.taxtmi.com/article/detailed?id=11187 A financial creditor may initiate CIRP when a corporate debtor defaults by filing Form 1 with particulars of creditor, debtor, proposed interim resolution professional and financial debt, supported by evidence of default such as Information Utility records, bankers' books entries, court orders or assignment documentation. The Adjudicating Authority shall ascertain default from such records and, if satisfied and procedural requirements are met and no disciplinary bar exists against the proposed resolution professional, admit the application, declare a moratorium, cause a public announcement and appoint an interim resolution professional; otherwise it may reject after opportunity to rectify defects. en-us Fri, 10 Mar 2023 10:06:03 +0530 Fri, 10 Mar 2023 10:06:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11187 A financial creditor may initiate CIRP when a corporate debtor defaults by filing Form 1 with particulars of creditor, debtor, proposed interim resolution professional and financial debt, supported by evidence of default such as Information Utility records, bankers' books entries, court orders or assignment documentation. The Adjudicating Authority shall ascertain default from such records and, if satisfied and procedural requirements are met and no disciplinary bar exists against the proposed resolution professional, admit the application, declare a moratorium, cause a public announcement and appoint an interim resolution professional; otherwise it may reject after opportunity to rectify defects. Articles Corporate Laws / IBC / SEBI Fri, 10 Mar 2023 10:06:03 +0530 https://www.taxtmi.com/article/detailed?id=11187