This notification, S.O. 1091(E), issued by the Ministry of Corporate Affairs on February 27, 2019, and published in the Gazette of India: Extraordinary, Part II, Section 3, Subsection (ii), No. 957, New Delhi, Friday, March 1, 2019, specifies the persons authorized to file an application for initiating the corporate insolvency resolution process against a corporate debtor before the Adjudicating Authority, on behalf of the financial creditor, under Section 7, subsection 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016). The authorized persons include: (i) a guardian; (ii) an executor or administrator of an estate of a financial creditor; (iii) a trustee, including a debenture trustee; and (iv) a person duly authorized by the Board of Directors of a Company. The notification is filed under F. No. 30/25/2018-Insolvency Section and signed by Gyaneshwar Kumar Singh, Joint Secretary.
Key Entities Referenced
Ministry of Corporate Affairs: The Indian government ministry responsible for corporate affairs.
New Delhi: The location of the notification, New Delhi, Delhi.
Insolvency and Bankruptcy Code, 2016: A law in India relating to insolvency resolution.
Central Government: The government of India.
Adjudicating Authority: The authority before which an application for initiating corporate insolvency resolution process is filed.
Board of Directors: The governing body of a company, which can authorize a person to file an application.
Gyaneshwar Kumar Singh: Jt. Secy. Ministry of Corporate Affairs.
Mayapuri, New Delhi: Location of the Government of India Press.
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HानेIर कुमार Jसह, सयं ु( सिचव
1360 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 27th February, 2019
S.O. 1091(E).—In exercise of the powers conferred by sub-section (1) of section 7 of the Insolvency
and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby notifies following persons who may
file an application for initiating corporate insolvency resolution process against a corporate debtor before the
Adjudicating Authority, on behalf of the financial creditor: -
(i) a guardian;
(ii) an executor or administrator of an estate of a financial creditor;
(iii) a trustee (including a debenture trustee); and
(v) a person duly authorised by the Board of Directors of a Company.
[F. No. 30/25/2018-Insolvency Section]
GYANESHWAR KUMAR SINGH, Jt. Secy.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.