Section 81 of IBC : Section 81: Application For Fresh Start Order
IBC
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Explanation using Example
Imagine John Doe, who is overwhelmed by personal debts that he is unable to repay. He learns about The Insolvency and Bankruptcy Code, 2016, and decides to apply for relief under section 80 to get a fresh start.
On June 1, 2023, John files an application with the required information and affidavit. From that day, an interim mor...
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