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Secretariat : 9 rue Mayan 7500Partri — Tel. 33 1 45 26 21 80 Fax 33 1 45 26 92 15 e-mailcirprp.net CORP UNIFIED KEYWORD LIST Up-Dated September 2003 The use of keywords in the abstract of papers
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4.1
The c i r p (Corporate Insolvency Resolution Process) is typically required by companies or organizations that are facing financial distress and are unable to pay off their debts. This process helps in the resolution and restructuring of the company's debts through negotiations with creditors and seeking opportunities for business revival.
4.2
It is important to note that the c i r p is not only beneficial for the company but also for its creditors. By engaging in the process, creditors have the opportunity to recover their debts and prevent the company from going into bankruptcy.
Overall, the c i r p process is essential for companies experiencing financial difficulties and aims to provide a platform for debt resolution and business revival.
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What is c i r p?
c i r p stands for Corporate Insolvency Resolution Process. It is a legal process in India that is initiated when a corporate debtor defaults on its debt obligations and undergoes insolvency proceedings.
Who is required to file c i r p?
The filing of c i r p is typically initiated by a financial creditor, operational creditor, or the corporate debtor itself.
How to fill out c i r p?
Filling out the c i r p involves completing the necessary forms and providing the required information such as details of the corporate debtor, its financials, and the creditors involved. It is recommended to consult with legal professionals or insolvency practitioners for proper guidance.
What is the purpose of c i r p?
The purpose of c i r p is to provide a systematic and time-bound framework for resolving insolvencies and maximizing the value of the assets of the corporate debtor. It aims to balance the interests of the creditors, shareholders, and other stakeholders.
What information must be reported on c i r p?
The c i r p requires reporting various information including the details of the corporate debtor, its financial statements, outstanding debts, list of creditors, and any ongoing litigation or proceedings involving the debtor.
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