valid as on 23/11/2020

W.e.f., 01.12.2019

1.7.7 The Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019

7. Application by creditor.―

(1) The application under sub-section (1) of section 123 shall be submitted in , along with a fee of two thousand rupees.

(2) The creditor shall serve forthwith a copy of the application referred to in sub-rule (1) to the guarantor and the corporate debtor for whom the guarantor is a personal guarantor.

(3) In case of a joint application, the creditors may nominate one amongst themselves to act on behalf of all the creditors.

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FORM B – APPLICATION BY CREDITOR TO INITIATE BANKRUPTCY PROCESS


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