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The #Insolvency and #Bankruptcy Code, 2016 (IBC) provides creditors with a structured mechanism to initiate the #Corporate Insolvency #Resolution Process (CIRP) against a defaulting corporate debtor. Depending upon the nature of the #debt, #creditors may invoke either Section 7 or Section 9 of the Code. While both provisions empower creditors to approach the National #Company #Law #Tribunal (NCLT) for commencement of #CIRP, the threshold requirements and procedural framework