Can an assignee of Financial Contract make an application under Corporate Insolvency Resolution Process ?
CS Professional · Insolvency - Law and Practice · PYQS · December 2019
Can an assignee of Financial Contract make an application under Corporate Insolvency Resolution Process ?
Answer & Explanation:
Yes, as per Rule 4(2) of Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, where an applicant for a Corporate Insolvency Resolution Process is an assignee or transferee of a Financial Contract the application shall be accompanied with a copy of the assignment or transfer agreement and other relevant documents as may be required to demonstrate the assignment or transfer.
Topics: Corporate Insolvency Resolution Process (CIRP)
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