The Insolvency and Bankruptcy Code, 2016
Insolvency Resolution and Liquidation for Corporate Persons
Corporate Insolvency Resolution Process(CIRP)
Section 6: Persons who may initiate corporate insolvency resolution process:
*6. Where any corporate debtor commits a default, a financial creditor, an operational creditor or the corporate debtor itself may initiate corporate insolvency resolution process in respect of such corporate debtor in the manner as provided under this Chapter.
Notifications & Circulars
*This shall come into force w.e.f. from 01.12.2016.