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The_Insolvency_and_Bankruptcy_Code_2016

Section / Rule Number Content


6. Persons who may initiate corporate insolvency resolution process.
7. Initiation of corporate insolvency resolution process by financial creditor.
8. Insolvency resolution by operational creditor.
9. Application for initiation of corporate insolvency resolution process by operational creditor
10. Initiation of corporate insolvency resolution process by corporate applicant.
11. Persons not entitled to make application
12. Time-limit for completion of insolvency resolution process.
13. Declaration of moratorium and public announcement.
14. Moratorium
15. Public announcement of corporate insolvency resolution process
16. Appointment and tenure of interim resolution professional.
17. Management of affairs of corporate debtor by interim resolution professional.
18. Duties of interim resolution professional.
19. Personnel to extend cooperation to interim resolution professional.
20. Management of operations of corporate debtor as going concern
21. Committee of creditors.
22. Appointment of resolution professional
23. Resolution professional to conduct corporate insolvency resolution process.
24. Meeting of committee of creditors.
25. Duties of resolution professional.
26. Application for avoidance of transactions not to affect proceedings.
27. Replacement of resolution professional by committee of creditors.
28. Approval of committee of creditors for certain actions.
29. Preparation of information memorandum
30. Submission of resolution plan.
31. Approval of resolution plan.
32. Appeal.
29A. A person shall not be eligible to submit a resolution plan, if such person, or any other person acting jointly with such person, or any person who is a promoter or in management or control of such person,
12A. Withdrawal of application admitted under section 7, 9 or 10.
25A. Rights and duties of authorised representative of financial creditors.
32A Liability for prior offences, etc
10A.Suspension of initiation of corporate insolvency resolution process.
11A Disposal of applications under section 54C and under section 7 or section 9 or section 10

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