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Section 126 - Insolvency and Bankruptcy Code Act, 2016
126. Bankruptcy order.-
(1) The Adjudicating Authority shall pass a bankruptcy order within fourteen days of receiving the confirmation or nomination of the bankruptcy trustee under section 125.
(2) The Adjudicating Authority shall provide the following documents to bankrupt, creditors and the bankruptcy trustee within seven days of the passing of the bankruptcy order, namely:-
(a) a copy of the application for bankruptcy; and
(b) a copy of the bankruptcy order.
Related Sections
- Section 65: Fraudulent or malicious initiation of proceedings
- Section 199: No person to function as insolvency professional agency without valid certificate of registration
- Section 58: Applicability of Chapter II to this Chapter
- Section 34: Appointment of liquidator and fee to be paid
- Section 86: Objections by creditor and their examination by resolution professional
Related Acts
* Only for reference.