A company takes up on a loan or debt in order to keep the business functioning and on the path of trajectory. With the availability of enough capital, the company ensures that its assets exceed its liabilities. 

However, the situation becomes critical when the liabilities exceed the number of assets, and the company fails to pay off its debts or loans. That’s when a company/corporate is said to be insolvent, and the state it is entering is termed as Insolvency.

• A record of the default recorded with the information utility or such other document or evidence of default
• The name of the resolution professional proposed to act as an interim resolution professional
• Any other requirement specified by the board

Below documents are to be submitted along with the application form.

• The information representing its book of account and such other documents for such period as may be prescribed by the board
• The information representing the resolution professional proposed to appointed as an interim resolution professional
• The special resolution is given by shareholders of the corporate debtor or the resolution adopted by at least three-fourths of the total number of the partners of the corporate debtor, as the case may be, approving the filing of the application

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Our team of experts are extremely qualified and experienced Insolvency Professionals with the constant backup of supporting professionals handling top level assignments. We have in-house experienced and qualified professionals to manage the financial affairs during the Corporate Insolvency Resolution Process (CIRP). 

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Below documents are to be submitted along with the application form. 

• A copy of invoice demanding payment or demand notice delivered by the operational creditor to the corporate debtor
• As affidavit mentioning there is no notice given by the corporate debtor describing to a dispute of the outstanding operational debt
• A copy of the certification from the financial institutions maintaining accounts of the operational creditor confirming that there is no payment of an unpaid operational debt by the corporate debtor, if available
• A copy of any report with information utility confirming that there is no payment of an unpaid operational debt by the corporate debtor, if available 
• Any other proof is confirming that there is no payment of an unpaid operational debt by the corporate debtor or such additional information, as may be prescribed the Central Government