Want to be a
Soolegal Member
Team  SoOLEGAL
Resource Centre / Categories :- Legal Procedures  » Banking & Finance Law  » Legal Procedures  » Bankruptcy/Insolvency
Procedure to Initiate Corporate Insolvency By Financial Creditor
Team SoOLEGAL | 01/01/1970

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".

View (99) Share (0) Download (18)

More Documents By Team SoOLEGAL

Author Image
Resource Centre / Categories :- Legal Formats
Lease/Rent Agreement for a Residential Property
Unknown Author | N/A

No description available.

Read more ..
Download
Author Image
Resource Centre / Categories :- Legal Formats
Legal Format of Certificate under Section-65B
Unknown Author | N/A

No description available.

Read more ..
Download
Author Image
Resource Centre / Categories :- Legal Formats
CRIMINAL APPEAL NO.340 OF 2022
Unknown Author | N/A

No description available.

Read more ..
Download
Author Image
Resource Centre / Categories :- Legal Formats
Dev Kishan And Ors. Lrs. Of Kishan ... vs Ram Kishan AndOrs.
Unknown Author | N/A

No description available.

Read more ..
Download

Related Documents