Case Law Details
CAN AN AUTHORISED REPRESENTATIVE BE ALLOWED TO FILE A PETITION UNDER INSOLVENCY AND BANKRUPTCY (I&B) CODE’?
Hon’ble National Company Law Appellate Tribunal in the matter of Palogix Infrastructure Private Limited Vs. ICICI Bank Limited has promulgated that an Authorized Representative can file petition under Insolvency and Bankruptcy Code, 2016(Hereinafter referred as ‘I&B CODE’).
WHAT IS THE MEANING OF THE TERM ‘APPLICANT’?
As per Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 ‘Applicant’ means person(s) filing application under section 7,9, or 10, as the case may be. Accordingly an Operational Creditor(s), Financial Creditor(s), Corporate Person can be an Applicant. They can file petition to the Adjudicating Authority through Authorised representative.
HOW AN APPLICATION BE FILED?
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Can a senior employee of company as operational creditor duly authorized by board can himself file a petition under ibc code before nclt court and appear before nclt court