Initiation of CIRP - Requirement of issuance of notice to the creditors before admission of the...

Initiation of CIRP - Requirement of issuance of notice to the creditors before admission of the application - Since the statutory Scheme does not contain any obligation of issuing notice to the creditors by the Corporate Applicant, any objector appearing at the time of hearing has to be heard and the objection may be noted by the Adjudicating Authority and thereafter the appropriate decision can be taken - the mere fact that no notice was issued to the creditors or any opportunity was given to t..... .....

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