What is an LPA and difference with FAO Timelines in Sec 138 NIA What is Sec 7 and 9 in IBC

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LPA stands for Lasting Power of Attorney, which is a legal document that allows a person to appoint someone to make decisions on their behalf. FAO refers to Foreign Account Operations, which involves managing financial accounts held outside one's home country.

LPA is used in the context of appointing someone to act on behalf of an individual in case they become mentally incapacitated.
FAO involves managing financial accounts held in foreign countries, often for individuals or businesses with international operations.
Sec 138 NIA refers to Section 138 of the Negotiable Instruments Act, which deals with the timelines for initiating legal action in case of dishonor of cheques.
Sec 7 and 9 in IBC refer to Sections 7 and 9 of the Insolvency and Bankruptcy Code, which outline the provisions for initiating corporate insolvency resolution and initiation of the corporate insolvency resolution process by operational creditors, respectively.

What is an LPA and difference with FAO Timelines in Sec 138 NIA What is Sec 7 and 9 in IBC

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