Upon acceptance of an application, the adjudicating authority shall initiate a corporate insolvency resolution process (CIRP), under Section 10 and shall thus proceed to appoint an Interim Resolution Professional under section 16 of the said Act.
source https://www.caclubindia.com/articles/case-study-1-ibc-2016-47412.asp
source https://www.caclubindia.com/articles/case-study-1-ibc-2016-47412.asp
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