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CS Professional · Corporate Restructuring, Valuation and Insolvency · Cross Border Insolvency

Which of the following correctly describes the nature of a letter of request under section 235 of the Code?

A letter of request under section 235 is issued by the Adjudicating Authority to a court or authority of the reciprocating foreign country competent to deal with the request. It is not issued by the resolution professional, the creditors' committee or the Central Government.

  1. AIt is issued by the Adjudicating Authority to a court or authority of the foreign country competent to deal with the requestCorrect
  2. BIt is issued by the resolution professional to the foreign debtor's creditors
  3. CIt is issued by the Central Government to the United Nations
  4. DIt is issued by the committee of creditors to foreign regulators

Explanation

Section 235(2) says the Adjudicating Authority, once satisfied, may issue a letter of request to a court or authority of that country competent to deal with it. The other options name issuers or recipients not found in the section.

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