Section 11. Persons not entitled to make application. –

The following persons shall not be entitled to make an application to initiate corporate insolvency resolution process under this Chapter, namely: –

• (a) a corporate debtor undergoing a corporate insolvency resolution process ³[or a pre-packaged insolvency resolution process]; or
• ⁴[(aa) a financial creditor or an operational creditor of a corporate debtor undergoing a pre-packaged insolvency resolution process; or];
• (b) a corporate debtor having completed corporate insolvency resolution process twelve months preceding the date of making of the application; or
• ⁵[(ba) a corporate debtor in respect of whom a resolution plan has been approved under Chapter III-A, twelve months preceding the date of making of the application; or]
• (c) a corporate debtor or a financial creditor who has violated any of the terms of resolution plan which was approved twelve months before the date of making of an application under this Chapter; or
• (d) a corporate debtor in respect of whom a liquidation order has been made.

Explanation ¹[I]. – For the purposes of this section, a corporate debtor includes a corporate applicant in respect of such corporate debtor.

²[Explanation II.- For the purposes of this section, it is hereby clarified that nothing in this section shall prevent a corporate debtor referred to in clauses (a) to (d) from initiating corporate insolvency resolution process against another corporate debtor.]

1. Ins. by Act No. 1 of 2020, sec.4 (w.e.f. 28-12-2019).
2. Ins. by Act No. 1 of 2020, sec.4 (w.e.f. 28-12-2019).
3 Ins. by Act No. 26 of 2021, sec.4(i) (w.e.f. 04-04-2021).
4 Ins. by Act No. 26 of 2021,sec.4(ii) (w.e.f. 04-04-2021).
5 Ins. by Act No. 26 of 2021, sec.4(iii) (w.e.f. 04-04-2021).