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Ancoraa Resolution22 Sep, 2022Finance

The Code provides suppliers with a mechanism to initiate an insolvency resolution process in the event a debtor company is unable to pay its debts. A debtor company may also, by itself, take recourse to the Code if it wants to avail of the mechanism of resolution process. In the event of inability to pay creditors, a company may choose to go for insolvency resolution process ? a measure by which the company can itself approach the NCLT for the purpose of resolution.