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MODEL QUESTION PAPER FOR LIMITED INSOLVENCY EXAMINATION (w.e.f. 1st July 2017 to 31st Dec 2017) 1. Core services of an information utility do not include (a) accepting electronic submission of financial.

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CIRP may be initiated by either: a financial creditor (FC) under Section 7. an operational creditor (OC) under Section 9. a corporate applicant of a corporate debtor under Section 10 of the Code.

1 crore. If it is below Rs. 1 crore, application for corporate insolvency resolution process cannot be initiated by the operational creditor against the corporate debtor.

CIRP may be initiated by either: a financial creditor (FC) under Section 7. an operational creditor (OC) under Section 9. a corporate applicant of a corporate debtor under Section 10 of the Code.

Criteria for starting insolvency proceedings via a Creditors' Voluntary Liquidation The company's liabilities must exceed its assets, with no hope of stabilising the financial position. 75% or more of shareholders (by share value) must agree to pass a special resolution to wind-up the company.

A Financial service provider cannot initiate CIRP nor can any CIRP be initiated against it. B Financial service provider can initiate CIRP and also CIRP can be initiated against it.

Under the Insolvency and Bankruptcy Code 2016 (IBC), a Corporate Insolvency Resolution Process (CIRP) may be initiated by operational creditors under Section 9.

Financial service provider cannot initiate CIRP but CIRP can be initiated against it.

A resolution applicant, as defined under section 5(25) of the Code, meansany person who submits a resolution plan to the resolution professional.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232