Identified Persons Permitted to file a suit on behalf of a Financial Creditor under IBC

The Insolvency and Bankruptcy Board of India has notified a list of people who can initiate a corporate insolvency resolution process on behalf of a financial creditor against a corporate debtor. They are as follows:

  • a guardian;
  • an executor or administrator of an estate of a financial creditor;
  • a trustee (including a debenture trustee); and
  • a person duly authorized by the Board of Directors of a Company.

The aforementioned list being an exhaustive one, clears any doubt regarding who can initiate a corporate insolvency resolution process on behalf of a financial creditor.