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.