Procedure to initiate corporate insolvency by financial creditors
1 | 5 | 0 | 0 | 0

Financial creditors can be defined under section 5(7) of IBC and the procedure to initiate corporate insolvency by financial creditor are defined under section 7 of IBC . A Financial Creditor can initiate proceeding against the Corporate debtor under section 7 and the financial creditor needs to file an application before the National Company Law Tribunal (NCLT) with a demand draft of Rs 25000/- in favor of "Pay & Accounts Officer ,Ministry of Corporate Affairs".

Free

Add to Reading List Download Document

User's Comments

There are no comments!

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.