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CS Professional · Insolvency and Bankruptcy - Law and Practice · Cross Border Insolvency (Elective 7.5)

Ganga Foods Ltd is in CIRP. The RP is satisfied that a foreign court's help is needed on assets held in a reciprocating country, and applies under section 235. Who issues the letter of request, and to whom is it addressed?

The Adjudicating Authority issues the letter of request, addressing it to a court or authority of the foreign country that is competent to deal with the request. The resolution professional only makes the application; the committee of creditors and the Board have no role in issuing it.

  1. AThe RP issues it to the foreign Ministry of Finance
  2. BThe committee of creditors issues it to any foreign creditor
  3. CThe Adjudicating Authority issues it to a court or authority of that country competent to deal with the requestCorrect
  4. DThe Insolvency and Bankruptcy Board issues it to the foreign insolvency regulator

Explanation

Section 235(2) provides that the Adjudicating Authority may issue a letter of request to a court or an authority of the country competent to deal with it. The RP only applies; neither the CoC nor the Board issues it.

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