57Manner of initiating fast track corporate insolvency resolution process

An application for fast track corporate insolvency resolution process may be filed by a creditor or corporate debtor as the case may be, along with—

(a) the proof of the existence of default as evidenced by records available with an information utility or such other means as may be specified by the Board; and

(b) such other information as may be specified by the Board to establish that the corporate debtor is eligible for fast track corporate insolvency resolution process.