Section 7: Initiation of CIRP by financial creditor

Q: What does Section 7 of Insolvency and Bankruptcy Code, 2016 (IBC) deal with?

Section 7 IBC pertains to "Initiation of CIRP by financial creditor". It is part of the Insolvency and Bankruptcy Code, 2016, a legislation enacted by the Parliament of India. Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) governs initiation of CIRP by financial creditor.

Q: Is Section 7 IBC still in force?

Yes, Section 7 of the Insolvency and Bankruptcy Code, 2016 is currently in force across the Republic of India.

Q: What is धारा 7 IBC?

धारा 7 IBC is the Devanagari Hindi reference for Section 7 of the Insolvency and Bankruptcy Code, 2016. Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) governs initiation of CIRP by financial creditor.

Q: What is Dhara 7 IBC?

Dhara 7 IBC is the Roman Hindi reference for Section 7 of the Insolvency and Bankruptcy Code, 2016. "Dhara" means "Section" in Hindi. Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) governs initiation of CIRP by financial creditor.

Q: How to cite Section 7 of Insolvency and Bankruptcy Code, 2016?

Cite as: "Section 7, Insolvency and Bankruptcy Code, 2016 (IBC)" in legal briefs. For academic writing, use the BlueBook format: Insolvency and Bankruptcy Code, 2016, § 7 (India).

Law on Tips Editorial Board

(1) A financial creditor either by itself or jointly... may file an application for initiating corporate insolvency resolution process against a corporate debtor before the Adjudicating Authority when a default has occurred.