Section 7 of IBC enables financial creditors to file for insolvency against a corporate debtor, Section 9 provides for application of insolvency by an operational creditor. Similarly, Section 10 relates to initiation of insolvency proceedings by a corporate applicant.

These three sections have now been suspended temporarily for defaults arising on or after March 25, 2020 for a period of six months or such further period, not exceeding one year from such date, as may be notified.

Also no application shall ever be filed for initiation of corporate insolvency process of a corporate debtor for the said default occurring during the said period.