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Insolvency and Bankruptcy Code Act, 2016
Chapter I: Preliminary
Chapter II: Corporate Insolvency Resolution Process
- Section 6: Persons who may initiate corporate insolvency resolution process
- Section 7: Initiation of corporate insolvency resolution process by financial creditor
- Section 8: Insolvency resolution by operational creditor
- Section 9: Application for initiation of corporate insolvency resolution process by operational creditor
- Section 10: Initiation of corporate insolvency resolution process by corporate applicant
- Section 11: Persons not entitled to make application
- Section 12: Time-limit for completion of insolvency resolution process
- Section 13: Declaration of moratorium and public announcement
- Section 14: Moratorium
- Section 15: Public announcement of corporate insolvency resolution process
- Section 16: Appointment and tenure of interim resolution professional
- Section 17: Management of affairs of corporate debtor by interim resolution professional
- Section 18: Duties of interim resolution professional
- Section 19: Personnel to extend co-operation to interim resolution professional
- Section 20: Management of operations of corporate debtor as going concern
- Section 21: Committee of creditors
- Section 22: Appointment of resolution professional
- Section 23: Resolution professional to conduct corporate insolvency resolution process
- Section 24: Meeting of committee of creditors
- Section 25: Duties of resolution professional
- Section 26: Application for avoidance of transactions not to affect proceedings
- Section 27: Replacement of resolution professional by committee of creditors
- Section 28: Approval of committee of creditors for certain actions
- Section 29: Preparation of information memorandum
- Section 30: Submission of resolution plan
- Section 31: Approval of resolution plan
- Section 32: Appeal
Chapter III: Liquidation Process
- Section 33: Initiation of liquidation
- Section 34: Appointment of liquidator and fee to be paid
- Section 35: Powers and duties of liquidator
- Section 36: Liquidation estate
- Section 37: Powers of liquidator to access information
- Section 38: Consolidation of claims
- Section 39: Verification of claims
- Section 40: Admission or rejection of claims
- Section 41: Determination of valuation of claims
- Section 42: Appeal against the decision of liquidator
- Section 43: Preferential transactions and relevant time
- Section 44: Orders in case of preferential transactions
- Section 45: Avoidance of undervalued transactions
- Section 46: Relevant period for avoidable transactions
- Section 47: Application by creditor in cases of undervalued transactions
- Section 48: Order in cases of undervalued transactions
- Section 49: Transactions defrauding creditors
- Section 50: Extortionate credit transactions
- Section 51: Orders of Adjudicating Authority in respect of extortionate credit transactions
- Section 52: Secured creditor in liquidation proceedings
- Section 53: Distribution of assets
- Section 54: Dissolution of corporate debtor
Chapter IV: Fast track Corporate Insolvency resolution Process
Chapter V: Voluntary Liquidation of Corporate Persons
Chapter VI: Adjudicating authority for Corporate Persons
- Section 60: Adjudicating Authority for corporate persons
- Section 61: Appeals and Appellate Authority
- Section 62: Appeal to Supreme Court
- Section 63: Civil court not to have jurisdiction
- Section 64: Expeditious disposal of applications
- Section 65: Fraudulent or malicious initiation of proceedings
- Section 66: Fraudulent trading or wrongful trading
- Section 67: Proceedings under section 66
Chapter VII: Offences and Penalties
- Section 68: Punishment for concealment of property
- Section 69: Punishment for transactions defrauding creditors
- Section 70: Punishment for misconduct in course of corporate insolvency resolution process
- Section 71: Punishment for falsification of books of corporate debtor
- Section 72: Punishment for wilful and material omissions from statements relating to affairs of corporate debtor
- Section 73: Punishment for false representations to creditors
- Section 74: Punishment for contravention of moratorium or the resolution plan
- Section 75: Punishment for false information furnished in application
- Section 76: Punishment for non-disclosure of dispute or payment of debt by operational credito
- Section 77: Punishment for providing false information in application made by corporate debtor
- Section 184: Punishment for false information, etc., by creditor in insolvency resolution process
- Section 185: Punishment for contravention of provisions
- Section 186: Punishment for false information, concealment, etc., by bankrupt
- Section 187: Punishment for certain actions
Chapter II: Fresh Start Process
- Section 80: Eligibility for making an application
- Section 81: Application for fresh start order
- Section 82: Appointment of resolution professional
- Section 83: Examination of application by resolution professional
- Section 84: Admission or rejection of application by Adjudicating Authority
- Section 85: Effect of admission of application
- Section 86: Objections by creditor and their examination by resolution professional
- Section 87: Application against decision of resolution professional
- Section 88: General duties of debtor
- Section 89: Replacement of resolution professional
- Section 90: Directions for compliances of restrictions
- Section 91: Revocation of order admitting application
- Section 92: Discharge order
- Section 93: Standard of conduct
Chapter III: Insolvency Resolution Process
- Section 94: Application by debtor to initiate insolvency resolution process
- Section 95: Application by creditor to initiate insolvency resolution process
- Section 96: Interim moratorium
- Section 97: Appointment of resolution professional
- Section 98: Replacement of resolution professional
- Section 99: Submission of report by resolution professional
- Section 100: Admission or rejection of application
- Section 101: Moratorium
- Section 102: Public notice and claims from creditors
- Section 103: Registering of claims by creditors
- Section 104: Preparation of list of creditors
- Section 105: Repayment plan
- Section 106: Report of resolution professional on repayment plan
- Section 107: Summoning of meeting of creditors
- Section 108: Conduct of meeting of creditors
- Section 109: Voting rights in meeting of creditors
- Section 110: Rights of secured creditors in relation to repayment plan
- Section 111: Approval of repayment plan by creditors
- Section 112: Report of meeting of creditors on repayment plan
- Section 113: Notice of decisions taken at meeting of creditors
- Section 114: Order of Adjudicating Authority on repayment plan
- Section 115: Effect of order of Adjudicating Authority on repayment plan
- Section 116: Implementation and supervision of repayment plan
- Section 117: Completion of repayment plan
- Section 118: Repayment plan coming to end prematurely
- Section 119: Discharge order
- Section 120: Standard of conduct
Chapter IV: Bankruptcy order for individuals and partnership firms
- Section 121: Application for bankruptcy
- Section 122: Application by debtor
- Section 123: Application by creditor
- Section 124: Effect of application
- Section 125: Appointment of insolvency professional as bankruptcy trustee
- Section 126: Bankruptcy order
- Section 127: Validity of bankruptcy order
- Section 128: Effect of bankruptcy order
- Section 129: Statement of financial position
- Section 130: Public notice inviting claims from creditors
- Section 131: Registration of claims
- Section 132: Preparation of list of creditors
- Section 133: Summoning of meeting of creditors
- Section 134: Conduct of meeting of creditors
- Section 135: Voting rights of creditors
- Section 136: Administration and distribution of estate of bankruptcy
- Section 137: Completion of administration
- Section 138: Discharge order
- Section 139: Effect of discharge
- Section 140: Disqualification of bankrupt
- Section 141: Restrictions on bankrupt
- Section 142: Modification or recall of bankruptcy order
- Section 143: Standard of conduct
- Section 144: Fees of bankruptcy trustee
- Section 145: Replacement of bankruptcy trustee
- Section 146: Resignation by bankruptcy trustee
- Section 147: Vacancy in office of bankruptcy trustee
- Section 148: Release of bankruptcy trustee
Chapter V: Administration and Distribution of the Estate of the Bankrupt
- Section 149: Functions of bankruptcy trustee
- Section 150: Duties of bankrupt towards bankruptcy trustee
- Section 151: Rights of bankruptcy trustee
- Section 152: General powers of bankruptcy trustee
- Section 153: Approval of creditors for certain acts
- Section 154: Vesting of estate of bankrupt in bankruptcy trustee
- Section 155: Estate of bankrupt
- Section 156: Delivery of property and documents to bankruptcy trustee
- Section 157: Acquisition of control by bankruptcy trustee
- Section 158: Restrictions on disposition of property
- Section 159: After-acquired property of bankrupt
- Section 160: Onerous property of bankrupt
- Section 161: Notice to disclaim onerous property
- Section 162: Disclaimer of leaseholds
- Section 163: Challenge against disclaimed property
- Section 164: Undervalued transactions
- Section 165: Preference transactions
- Section 166: Effect of order
- Section 167: Extortionate credit transactions
- Section 168: Obligations under contracts
- Section 169: Continuance of proceedings on death of bankrupt
- Section 170: Administration of estate of deceased bankrupt
- Section 171: Proof of debt
- Section 172: Proof of debt by secured creditors
- Section 173: Mutual credit and set-off
- Section 174: Distribution of interim dividend
- Section 175: Distribution of property
- Section 176: Final dividend
- Section 177: Claims of creditors
- Section 178: Priority of payment of debts
Chapter VI: Adjudicating Authority for individuals and Partnership firms
Chapter I: The Insolvency and Bankruptcy Board of India
- Section 188: Establishment and incorporation of Board
- Section 189: Constitution of Board
- Section 190: Removal of member from office
- Section 191: Powers of Chairperson
- Section 192: Meetings of Board
- Section 193: Member not to participate in meetings in certain cases
- Section 194: Vacancies, etc., not to invalidate proceedings of Board, Officers and employees of Board
- Section 195: Power to designate financial sector regulator
Chapter II: Powers and Functions of The Board
Chapter III: Insolvency Professional Agencies
Notes
No notes found related to Insolvency and Bankruptcy Code Act, 2016.
Insolvency and Bankruptcy Code Act, 2016
Act Information
# Chapters: 15
# Sections: 200
* Only for reference.
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section (446 )
bankrupt (323 )
bankruptcy (317 )
shall (308 )
creditors (205 )
may (192 )
application (182 )
bankruptcy trustee (172 )
order (145 )
date (141 )
sub (134 )
sub section (133 )
estate (133 )
property (128 )
adjudicating (119 )
adjudicating authority (119 )
debtor (109 )
person (107 )
respect (106 )
trustee (106 )
