A change in the composition of the Committee of Creditors (CoC) of the Corporate Debtor will affect its previous decision and the same will be binding on the newly included members of CoC.
Tag: Corporate Insolvency Resolution Process against the Corporate Debtor
Threshold Limit To Include Principal And Interest Amount Both
The minimum threshold limit mentioned under section 4 of Insolvency and Bankruptcy Code, 2016 can include both principal and interest amount. The invoices/bills raised by the Operational Creditor clearly mentioned that the interest will be charged @18% after the due date of the bill.
The Corporate Guarantor can initiate CIRP against the Corporate Debtor under “Right to subvention”
Proceeding against the Corporate Debtor for the recovery of the dues and hence can file a petition against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016 before the Adjudicating Authority.
Who all are Operational Creditors
operational creditors are those creditors where liabilities arise from transactions on operations.
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