Section 9 Petition for Insolvency Resolution

Have trying getting back the money you lent to a debtor using Section 8 demand notice? Was the process unsuccessful? If this is case, now is time to think big and take bigger steps by filing Section 9 Petition of Insolvency resolution.

Under the Insolvency and Bankruptcy Code, if the debtor has not conceded to the repayment demands under Section 8 Demand notice, the next step that the creditor can take is to file Section 9 petition of insolvency resolution.

The petition of insolvency resolution under Section 9 can only be filed after filing the Section 8 Demand notice. Through this petition to the NCLT or National Company Law Tribunal, the insolvency resolution process can be started.

When to file Section 9 petition for Insolvency resolution

You can only file Section 9 insolvency petition if:

The process of insolvency resolution is lengthy legal step taken over the course of several days. In order to get the resolution on time, you need to file accurate section 9 insolvency petition.

Taxzone is a team of insolvency experts that entails corporate lawyers and business professionals that can help you file Insolvency petition under IBC code.

Documents Required to file Insolvency petition under Section 9 of Insolvency

Following are the documents required to file Insolvency petition under Section 9 of Insolvency and Bankruptcy Code: