Section 11. Persons not entitled to make application
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Act
Insolvency and Bankruptcy Code Act, 2016
Section number
11
Section reader
11. Persons not entitled to make application.-
The following persons shall not be entitled to make an application to initiate corporate insolvency resolution process under this Chapter, namely:-
(a) a corporate debtor undergoing a corporate insolvency resolution process; or
(b) a corporate debtor having completed corporate insolvency resolution process twelve months preceding the date of making of the application; or
(c) a corporate debtor or a financial creditor who has violated any of the terms of resolution plan which was approved twelve months before the date of making of an application under this Chapter; or
(d) a corporate debtor in respect of whom a liquidation order has been made.
Explanation.-For the purposes of this section, a corporate debtor includes a corporate applicant in respect of such corporate debtor.
