Power of Attorney holder is not competent to file application for insolvency resolution process: NCLT

A ‘Power of Attorney Holder’ is not empowered to file application on behalf of Operational Creditor. Filing of a copy of certificate from ‘Financial Institution’ maintaining accounts of Operational Creditor confirming that there is no payment of unpaid operational debt by ‘Corporate Debtor’ as prescribed under section 9(3)(c) is mandatory.

January 4th, 2018