Initiation of corporate insolvency resolution process (CIRP) by financial creditor (under sec 7 of code), operational creditor (under sec 9 of code) or corporate applicant ( under sec 10 of code) should be filed with an application under sec 60(5) of the code read with rule 11 of NCLT rules 2016 requesting to court for restraining the corporate debtor from alienating ,encumbering or creating any third party interest on the assets of the corporate debtor till the time insolvency petition is not adjudicated upon by NCLT : This is the first tip to restrain debtor for keeping the assets safe until the CIRP to be completed :
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