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<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Insolvency and Bankruptcy Board of India <br /><br /> Application under Rules 4, 6 or 7 of Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016<br /><br /> MANU/NMIC/0190/2022 - (15 Jun 2022)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>1. It has been decided that henceforth, the Board will forward the application for initiating insolvency received by it in terms of rule 4, 6 or 7 of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016, to the Information Utility (IU) and on receipt of the said application, the IU shall: <br><br> (a) inform other creditors of the Corporate Debtor by sharing the application; <br><br> (b) issue notice to the applicant, requiring it to file 'information of default' in the specified format under Insolvency and Bankruptcy Board of India (Information Utility) Regulations, 2017(IU Regulations); and<br><br> (c) process the 'information of default' for the purpose of issuing ROD as per the IU Regulations. <br><br> 2. This circular is issued in exercise of powers under section 196 of the Insolvency and Bankruptcy Code, 2016. <br><br> 3. This Circular shall come into force with immediate effect.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Application, Adjudication Authority, Rules</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>