📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      According to the IBC if the operational creditor does

      not receive payment from the corporate debtor or notice of the dispute, the operational creditor may file an application before the Adjudicating Authority for initiating a corporate insolvency resolution process. So, what is the period for the delivery of the notice or invoice demanding payment.
      A Ten days Correct Answer Incorrect Answer
      B Seven days Correct Answer Incorrect Answer
      C Fifteen days Correct Answer Incorrect Answer
      D Fourteen days Correct Answer Incorrect Answer
      E Forty-five days Correct Answer Incorrect Answer

      Solution

      IBC Section 9-Application for initiation of corporate insolvency resolution process by operational creditor: (1) After the expiry of the period of ten days from the date of delivery of the notice or invoice demanding payment under sub-section (1) of section 8, if the operational creditor does not receive payment from the corporate debtor or notice of the dispute under sub-section (2) of section 8, the operational creditor may file an application before the Adjudicating Authority for initiating a corporate insolvency resolution process.

      Practice Next
      More Other Laws and Acts Questions
      ask-question