-40%
The Insolvency & Bankruptcy Code, 2016, Bare Act (Updated upto 20.08.2026)
Original price was: ₹1,545.00.₹927.00Current price is: ₹927.00.
| Book Details | |
| Title | The Insolvency & Bankruptcy Code, 2016, Bare Act (Updated upto 20.08.2026) |
| ISBN | 9789378330261 |
| Edition | Ed. 2026 |
| Pages | 1136 |
| Authors | Commercial’s Edited by Prachi Wazalwar |
| Publisher | Commercial Law Publishers |
(Flat 40% Discount for a limited period + Free Shipping)
- Description
- Additional information
- Reviews (0)
Description
The Insolvency & Bankruptcy Code, 2016, Bare Act (Updated upto 20.08.2026) Author by Commercial’s
and Edited by Prachi Wazalwar is a complete and updated reference for legal practitioners, corporate professionals, students, and regulators. Covering the IBC Act, notified rules, and regulations in a precise format, this 2026 edition provides clarity for practical application and compliance. Published by Commercial Law Publishers, this Bare Act ensures accuracy and reliability for quick reference in legal practice. ISBN: 9789378330261. Available at a flat 40% discount with free shipping for a limited period.
| Part | Chapter | Section / Item | Description | Page |
|---|---|---|---|---|
| PART I | 1 | Short title, extent and commencement | 1 | |
| PART I | 2 | Application | 2 | |
| PART I | 3 | Definitions | 3 | |
| PART II | CHAPTER I | 4 | Application of this Part | 7 |
| PART II | CHAPTER I | 5 | Definitions | 8 |
| PART II | CHAPTER II | 6 | Persons who may initiate corporate insolvency resolution process | 17 |
| PART II | CHAPTER II | creditor | 17 | |
| PART II | CHAPTER II | 8 | Insolvency resolution by operational creditor | 21 |
| PART II | CHAPTER II | by operational creditor | 22 | |
| PART II | CHAPTER II | 10 | Initiation of corporate insolvency resolution process by corporate applicant | 24 |
| PART II | CHAPTER II | 10A | Suspension of initiation of corporate insolvency resolution process | 26 |
| PART II | CHAPTER II | 11 | Persons not entitled to make application | 26 |
| PART II | CHAPTER II | section 9 or section 10 | 27 | |
| PART II | CHAPTER II | 12 | Time-limit for completion of insolvency resolution process | 28 |
| PART II | CHAPTER II | 12A | Withdrawal of application admitted under section 7, 9 or 10 | 29 |
| PART II | CHAPTER II | 13 | Declaration of moratorium and public announcement | 30 |
| PART II | CHAPTER II | 14 | Moratorium | 31 |
| PART II | CHAPTER II | 15 | Public announcement of corporate insolvency resolution process | 34 |
| PART II | CHAPTER II | 16 | Appointment and tenure of interim resolution professional | 34 |
| PART II | CHAPTER II | 17 | Management of affairs of corporate debtor by interim resolution professional | 36 |
| PART II | CHAPTER II | 18 | Duties of interim resolution professional | 37 |
| PART II | CHAPTER II | 19 | Persons to extend cooperation to interim resolution professional | 38 |
| PART II | CHAPTER II | 20 | Management of operations of corporate debtor as going concern | 39 |
| PART II | CHAPTER II | 21 | Committee of creditors | 40 |
| PART II | CHAPTER II | 22 | Appointment of resolution professional | 44 |
| PART II | CHAPTER II | 23 | Resolution professional to conduct corporate insolvency resolution process | 45 |
| PART II | CHAPTER II | 24 | Meeting of committee of creditors | 46 |
| PART II | CHAPTER II | 25 | Duties of resolution professional | 47 |
| PART II | CHAPTER II | 25A | Rights and duties of authorised representative of financial creditors | 49 |
| PART II | CHAPTER II | affect processes | 50 | |
| PART II | CHAPTER II | 27 | Replacement of resolution professional by committee of creditors | 50 |
| PART II | CHAPTER II | 28 | Approval of committee of creditors for certain actions | 51 |
| PART II | CHAPTER II | 28A | Transfer of assets of guarantor of corporate debtor during process | 52 |
| PART II | CHAPTER II | 29 | Preparation of information memorandum | 53 |
| PART II | CHAPTER II | 29A | Persons not eligible to be resolution applicant | 54 |
| PART II | CHAPTER II | 30 | Submission of resolution plan | 58 |
| PART II | CHAPTER II | 31 | Approval of resolution plan | 62 |
| PART II | CHAPTER II | 32 | Appeal | 65 |
| PART II | CHAPTER II | 32A | Liability for prior offences, etc. | 65 |
| PART II | CHAPTER III | 33 | Initiation of liquidation | 67 |
| PART II | CHAPTER III | 34 | Appointment of liquidator and fee to be paid | 71 |
| PART II | CHAPTER III | 34A | Replacement of liquidator by committee of creditors | 72 |
| PART II | CHAPTER III | 35 | Powers and duties of liquidator | 73 |
| PART II | CHAPTER III | 36 | Liquidation Estate | 75 |
| PART II | CHAPTER III | 37 | Powers of liquidator to access information | 78 |
| PART II | CHAPTER III | 38-42 [Omitted] | 78 | |
| PART II | CHAPTER III | 43 | Preferential transactions and relevant time | 79 |
| PART II | CHAPTER III | 44 | Orders in case of preferential transactions | 81 |
| PART II | CHAPTER III | 45 | Avoidance of undervalued transactions | 82 |
| PART II | CHAPTER III | 46 | Relevant period for undervalued transactions | 83 |
| PART II | CHAPTER III | transactions or trading | 84 | |
| PART II | CHAPTER III | 48 | Order in cases of undervalued transactions | 85 |
| PART II | CHAPTER III | 49 | Transactions defrauding creditors | 85 |
| PART II | CHAPTER III | 50 | Extortionate credit transactions | 86 |
| PART II | CHAPTER III | 51 | Orders of Adjudicating Authority in respect of extortionate credit transactions | 87 |
| PART II | CHAPTER III | 52 | Secured creditor in liquidation proceedings | 87 |
| PART II | CHAPTER III | 53 | Distribution of assets | 89 |
| PART II | CHAPTER III | 54 | Dissolution of corporate debtor | 92 |
| PART II | CHAPTER III-A | resolution process | 93 | |
| PART II | CHAPTER III-A | 54B | Duties of insolvency professional before initiation of pre-packaged insolvency resolution process | 95 |
| PART II | CHAPTER III-A | 54C | Application to initiate pre-packaged insolvency resolution process | 96 |
| PART II | CHAPTER III-A | resolution process | 96 | |
| PART II | CHAPTER III-A | 54E | Declaration of moratorium and public announcement during pre-packaged insolvency resolution process | 97 |
| PART II | CHAPTER III-A | 54F | Duties and powers of resolution professional during pre-packaged insolvency resolution process | 97 |
| PART II | CHAPTER III-A | 54G | List of claims and preliminary information memorandum | 99 |
| PART II | CHAPTER III-A | 54H | Management of affairs of corporate debtor | 100 |
| PART II | CHAPTER III-A | 54-I. Committee of creditors | 100 | |
| PART II | CHAPTER III-A | 54J | Vesting management of corporate debtor with resolution professional | 101 |
| PART II | CHAPTER III-A | 54K | Consideration and approval of resolution plan | 101 |
| PART II | CHAPTER III-A | 54L | Approval of resolution plan | 104 |
| PART II | CHAPTER III-A | 54M | Appeal against order under section 54L | 105 |
| PART II | CHAPTER III-A | 54N | Termination of pre-packaged insolvency resolution process | 105 |
| PART II | CHAPTER III-A | 54-O. Initiation of corporate insolvency resolution process | 106 | |
| PART II | CHAPTER III-A | 54P | Application of provisions of Chapters II, III, VI and VII to this Chapter | 107 |
| PART II | CHAPTER III-A | 55-58. [Omitted] | 108 | |
| PART II | CHAPTER IV-A | resolution process | 108 | |
| PART II | CHAPTER IV-A | 58B | Initiation of creditor-initiated insolvency resolution process | 109 |
| PART II | CHAPTER IV-A | 58C | Objections to commencement of process | 110 |
| PART II | CHAPTER IV-A | resolution process | 111 | |
| PART II | CHAPTER IV-A | 58E | Duties and powers of resolution professional | 111 |
| PART II | CHAPTER IV-A | 58F | Management of affairs of corporate debtors and cooperation of its personnel | 112 |
| PART II | CHAPTER IV-A | 58G | Moratorium | 113 |
| PART II | CHAPTER IV-A | corporate insolvency resolution process | 113 | |
| PART II | CHAPTER IV-A | 58-I. Withdrawal of public announcement made under section 58B | 114 | |
| PART II | CHAPTER IV-A | 58J | Application for approval of resolution plan | 115 |
| PART II | CHAPTER IV-A | this Chapter | 115 | |
| PART II | CHAPTER V | 59 | Voluntary liquidation of corporate persons | 116 |
| PART II | CHAPTER VA | 59A | Power to make rules for initiating proceedings for coordination and cooperation of corporate debtors of group | 118 |
| PART II | CHAPTER VI | 60 | Adjudicating Authority for corporate persons | 120 |
| PART II | CHAPTER VI | 61 | Appeals and Appellate Authority | 122 |
| PART II | CHAPTER VI | 62 | Appeal to Supreme Court | 123 |
| PART II | CHAPTER VI | 63 | Civil court not to have jurisdiction | 123 |
| PART II | CHAPTER VI | 64 | Expeditious disposal of applications | 123 |
| PART II | CHAPTER VI | 64A | Penalty for initiating frivolous or vexatious proceedings under Part II | 124 |
| PART II | CHAPTER VI | 65 | Fraudulent or malicious initiation of proceedings | 124 |
| PART II | CHAPTER VI | 66 | Fraudulent or wrongful trading | 124 |
| PART II | CHAPTER VI | 67 | Proceedings under section 66 | 126 |
| PART II | CHAPTER VI | resolution process | 127 | |
| PART II | CHAPTER VI | 67B | Contravention of moratorium or resolution plan | 127 |
| PART II | CHAPTER VI | 67C | Contravention for non-disclosure of dispute or payment of debt by operational creditor | 128 |
| PART II | CHAPTER VII | 68 | Punishment for concealment of property | 128 |
| PART II | CHAPTER VII | 69 | Punishment for transactions defrauding creditors | 130 |
| PART II | CHAPTER VII | resolution process | 130 | |
| PART II | CHAPTER VII | 71 | Punishment for falsification of books of corporate debtor | 131 |
| PART II | CHAPTER VII | relating to affairs of corporate debtor | 131 | |
| PART II | CHAPTER VII | 73 | Punishment for false representations to creditors | 131 |
| PART II | CHAPTER VII | 74 | [Omitted] | 132 |
| PART II | CHAPTER VII | 75 | Punishment for false information furnished in application | 132 |
| PART II | CHAPTER VII | 76 | [Omitted] | 132 |
| PART II | CHAPTER VII | made by corporate debtor | 132 | |
| PART II | CHAPTER VII | resolution process | 133 | |
| PART III | CHAPTER I | 78 | Application | 134 |
| PART III | CHAPTER I | 79 | Definitions | 134 |
| PART III | CHAPTER II | 80 | Eligibility for making an application | 137 |
| PART III | CHAPTER II | 81 | Application for fresh start order | 137 |
| PART III | CHAPTER II | 82 | Appointment of resolution professional | 138 |
| PART III | CHAPTER II | 83 | Examination of application by resolution professional | 139 |
| PART III | CHAPTER II | 84 | Admission or rejection of application by Adjudicating Authority | 140 |
| PART III | CHAPTER II | 85 | Effect of admission of application | 140 |
| PART III | CHAPTER II | professional | 141 | |
| PART III | CHAPTER II | 87 | Application against decision of resolution professional | 142 |
| PART III | CHAPTER II | 88 | General duties of debtor | 142 |
| PART III | CHAPTER II | 89 | Replacement of resolution professional | 142 |
| PART III | CHAPTER II | 90 | Directions for compliances of restrictions, etc. | 143 |
| PART III | CHAPTER II | 91 | Revocation of order admitting application | 143 |
| PART III | CHAPTER II | 92 | Discharge order | 144 |
| PART III | CHAPTER II | 93 | Standard of conduct | 145 |
| PART III | CHAPTER III | 94 | Application by debtor to initiate insolvency resolution process | 145 |
| PART III | CHAPTER III | 95 | Application by creditor to initiate insolvency resolution process | 146 |
| PART III | CHAPTER III | 96 | Interim moratorium | 146 |
| PART III | CHAPTER III | 97 | Appointment of resolution professional | 147 |
| PART III | CHAPTER III | 98 | Replacement of resolution professional | 148 |
| PART III | CHAPTER III | 99 | Submission of report by resolution professional | 149 |
| PART III | CHAPTER III | 100 | Admission or rejection of application | 150 |
| PART III | CHAPTER III | 101 | Moratorium | 151 |
| PART III | CHAPTER III | 102 | Public notice and claims from creditors | 152 |
| PART III | CHAPTER III | 103 | Registering of claims by creditors | 152 |
| PART III | CHAPTER III | 104 | Preparation of list of creditors | 152 |
| PART III | CHAPTER III | 105 | Repayment plan | 153 |
| PART III | CHAPTER III | 106 | Report of resolution professional on repayment plan | 153 |
| PART III | CHAPTER III | 107 | Summoning of meeting of creditors | 154 |
| PART III | CHAPTER III | 108 | Conduct of meeting of creditors | 155 |
| PART III | CHAPTER III | 109 | Voting rights in meeting of creditors | 155 |
| PART III | CHAPTER III | 110 | Rights of secured creditors in relation to repayment plan | 155 |
| PART III | CHAPTER III | 111 | Approval of repayment plan by creditors | 156 |
| PART III | CHAPTER III | 112 | Report of meeting of creditors on repayment plan | 156 |
| PART III | CHAPTER III | 113 | Notice of decisions taken at meeting of creditors | 157 |
| PART III | CHAPTER III | 114 | Order of Adjudicating Authority on repayment plan | 157 |
| PART III | CHAPTER III | 115 | Effect of order of Adjudicating Authority on repayment plan | 157 |
| PART III | CHAPTER III | 116 | Implementation and supervision of repayment plan | 158 |
| PART III | CHAPTER III | 117 | Completion of repayment plan | 158 |
| PART III | CHAPTER III | 118 | Repayment plan coming to end prematurely | 158 |
| PART III | CHAPTER III | 119 | Discharge order | 159 |
| PART III | CHAPTER III | 120 | Standard of conduct | 160 |
| PART III | CHAPTER IV | 121 | Application for bankruptcy | 160 |
| PART III | CHAPTER IV | 122 | Application by debtor | 160 |
| PART III | CHAPTER IV | 123 | Application by creditor | 161 |
| PART III | CHAPTER IV | 124 | Effect of application | 162 |
| PART III | CHAPTER IV | 125 | Appointment of insolvency professional as bankruptcy trustee | 162 |
| PART III | CHAPTER IV | 126 | Bankruptcy order | 163 |
| PART III | CHAPTER IV | 127 | Validity of bankruptcy order | 163 |
| PART III | CHAPTER IV | 128 | Effect of bankruptcy order | 164 |
| PART III | CHAPTER IV | 129 | Statement of financial position | 164 |
| PART III | CHAPTER IV | 130 | Public notice inviting claims from creditors | 165 |
| PART III | CHAPTER IV | 131 | Registration of claims | 165 |
| PART III | CHAPTER IV | 132 | Preparation of list of creditors | 165 |
| PART III | CHAPTER IV | 133 | Summoning of meeting of creditors | 166 |
| PART III | CHAPTER IV | 134 | Conduct of meeting of creditors | 166 |
| PART III | CHAPTER IV | 135 | Voting rights of creditors | 166 |
| PART III | CHAPTER IV | 136 | Administration and distribution of estate of bankrupt | 167 |
| PART III | CHAPTER IV | 137 | Completion of administration | 167 |
| PART III | CHAPTER IV | 138 | Discharge order | 167 |
| PART III | CHAPTER IV | 139 | Effect of discharge | 168 |
| PART III | CHAPTER IV | 140 | Disqualification of bankrupt | 168 |
| PART III | CHAPTER IV | 141 | Restrictions on bankrupt | 169 |
| PART III | CHAPTER IV | 142 | Modification or recall of bankruptcy order | 169 |
| PART III | CHAPTER IV | 143 | Standard of conduct | 170 |
| PART III | CHAPTER IV | 144 | Fees of bankruptcy trustee | 170 |
| PART III | CHAPTER IV | 145 | Replacement of bankruptcy trustee | 170 |
| PART III | CHAPTER IV | 146 | Resignation by bankruptcy trustee | 171 |
| PART III | CHAPTER IV | 147 | Vacancy in office of bankruptcy trustee | 172 |
| PART III | CHAPTER IV | 148 | Release of bankruptcy trustee | 172 |
| PART III | CHAPTER V | 149 | Functions of bankruptcy trustee | 173 |
| PART III | CHAPTER V | 150 | Duties of bankrupt towards bankruptcy trustee | 173 |
| PART III | CHAPTER V | 151 | Rights of bankruptcy trustee | 173 |
| PART III | CHAPTER V | 152 | General powers of bankruptcy trustee | 174 |
| PART III | CHAPTER V | 153 | Approval of creditors for certain acts | 174 |
| PART III | CHAPTER V | 154 | Vesting of estate of bankrupt in bankruptcy trustee | 175 |
| PART III | CHAPTER V | 155 | Estate of bankrupt | 175 |
| PART III | CHAPTER V | 156 | Delivery of property and documents to bankruptcy trustee | 176 |
| PART III | CHAPTER V | 157 | Acquisition of control by bankruptcy trustee | 176 |
| PART III | CHAPTER V | 158 | Restrictions on disposition of property | 176 |
| PART III | CHAPTER V | 159 | After-acquired property of bankrupt | 177 |
| PART III | CHAPTER V | 160 | Onerous property of bankrupt | 177 |
| PART III | CHAPTER V | 161 | Notice to disclaim onerous property | 178 |
| PART III | CHAPTER V | 162 | Disclaimer of leaseholds | 178 |
| PART III | CHAPTER V | 163 | Challenge against disclaimed property | 179 |
| PART III | CHAPTER V | 164 | Undervalued transactions | 179 |
| PART III | CHAPTER V | 164A | Transactions defrauding creditors | 180 |
| PART III | CHAPTER V | 165 | Preference transactions | 181 |
| PART III | CHAPTER V | 166 | Effect of order | 182 |
| PART III | CHAPTER V | 167 | Extortionate credit transactions | 183 |
| PART III | CHAPTER V | 168 | Obligations under contracts | 184 |
| PART III | CHAPTER V | 169 | Continuance of proceedings on death of bankrupt | 184 |
| PART III | CHAPTER V | 170 | Administration of estate of deceased bankrupt | 184 |
| PART III | CHAPTER V | 171 | Proof of debt | 185 |
| PART III | CHAPTER V | 172 | Proof of debt by secured creditors | 185 |
| PART III | CHAPTER V | 173 | Mutual credit and set-off | 186 |
| PART III | CHAPTER V | 174 | Distribution of interim dividend | 186 |
| PART III | CHAPTER V | 175 | Distribution of property | 187 |
| PART III | CHAPTER V | 176 | Final dividend | 187 |
| PART III | CHAPTER V | 177 | Claims of creditors | 188 |
| PART III | CHAPTER V | 178 | Priority of payment of debts | 188 |
| PART III | CHAPTER VI | 179 | Adjudicating Authority for individuals and partnership firms | 190 |
| PART III | CHAPTER VI | 180 | Civil court not to have jurisdiction | 191 |
| PART III | CHAPTER VI | 181 | Appeal to Debt Recovery Appellate Tribunal | 191 |
| PART III | CHAPTER VI | 182 | Appeal to Supreme Court | 191 |
| PART III | CHAPTER VI | 183 | Expeditious disposal of applications | 191 |
| PART III | CHAPTER VI | 183A | Penalty for initiating frivolous or vexatious proceedings under Part III | 192 |
| PART III | CHAPTER VII | resolution process | 192 | |
| PART III | CHAPTER VII | 185 | Punishment for contravention of provisions | 192 |
| PART III | CHAPTER VII | 186 | Punishment for false information, concealment, etc., by bankrupt | 192 |
| PART III | CHAPTER VII | 187 | Punishment for certain actions | 194 |
| PART IV | CHAPTER I | 188 | Establishment and incorporation of Board | 194 |
| PART IV | CHAPTER I | 189 | Constitution of Board | 195 |
| PART IV | CHAPTER I | 190 | Removal of member from office | 195 |
| PART IV | CHAPTER I | 191 | Powers of Chairperson | 196 |
| PART IV | CHAPTER I | 192 | Meetings of Board | 196 |
| PART IV | CHAPTER I | 193 | Member not to participate in meetings in certain cases | 196 |
| PART IV | CHAPTER I | 194 | Vacancies, etc., not to invalidate proceedings of Board, Officers and employees of Board | 196 |
| PART IV | CHAPTER I | 195 | Power to designate financial sector regulator | 197 |
| PART IV | CHAPTER II | 196 | Powers and functions of Board | 197 |
| PART IV | CHAPTER II | 197 | Constitution of advisory committee, executive committee or other committee | 200 |
| PART IV | CHAPTER II | 198 | Condonation of delay | 201 |
| PART IV | CHAPTER III | valid certificate of registration | 201 | |
| PART IV | CHAPTER III | 200 | Principles governing registration of insolvency professional agency | 201 |
| PART IV | CHAPTER III | 201 | Registration of insolvency professional agency | 201 |
| PART IV | CHAPTER III | 202 | Appeal to National Company Law Appellate Tribunal | 202 |
| PART IV | CHAPTER III | 203 | Governing Board of insolvency professional agency | 203 |
| PART IV | CHAPTER III | 204 | Functions of insolvency professional agencies | 203 |
| PART IV | CHAPTER III | 205 | Insolvency professional agencies to make bye-laws | 203 |
| PART IV | CHAPTER IV | 206 | Enrolled and registered persons to act as insolvency professionals | 203 |
| PART IV | CHAPTER IV | 207 | Registration of insolvency professionals | 204 |
| PART IV | CHAPTER IV | 208 | Functions and obligations of insolvency professionals | 204 |
| PART IV | CHAPTER V | 209 | No person to function as information utility without certificate of registration | 205 |
| PART IV | CHAPTER V | 210 | Registration of information utility | 205 |
| PART IV | CHAPTER V | 211 | Appeal to National Company Law Appellate Tribunal | 206 |
| PART IV | CHAPTER V | 212 | Governing Board of information utility | 207 |
| PART IV | CHAPTER V | 213 | Core services, etc., of information utilities | 207 |
| PART IV | CHAPTER V | 214 | Obligations of information utility | 207 |
| PART IV | CHAPTER V | information utilities | 207 | |
| PART IV | CHAPTER V | 216 | Rights and obligations of persons submitting financial information | 208 |
| PART IV | CHAPTER VI | 217 | Complaints against service providers | 209 |
| PART IV | CHAPTER VI | 218 | Investigation of service providers | 209 |
| PART IV | CHAPTER VI | 219 | Show cause notice to service provider | 210 |
| PART IV | CHAPTER VI | 220 | Appointment of disciplinary committee | 211 |
| PART IV | CHAPTER VII | 221 | Grants by Central Government | 212 |
| PART IV | CHAPTER VII | 222 | Board’s Fund | 212 |
| PART IV | CHAPTER VII | 223 | Accounts and audit | 213 |
| PART V | 224 | Insolvency and Bankruptey Fund | 213 | |
| PART V | 225 | Power of Central Government to issue directions | 214 | |
| PART V | 226 | Power of Central Government to supersede Board | 215 | |
| PART V | 227 | Power of Central Government to notify financial service providers, etc. | 215 | |
| PART V | 228 | Budget | 216 | |
| PART V | 229 | Annual Report | 216 | |
| PART V | 230 | Delegation | 216 | |
| PART V | 231 | Bar of jurisdiction | 216 | |
| PART V | 232 | Members, officers and employees of Board to the public servants | 217 | |
| PART V | 233 | Protection of action taken in good faith | 217 | |
| PART V | 234 | Agreements with foreign countries | 217 | |
| PART V | 235 | Letter of request to a country outside India in certain cases | 217 | |
| PART V | 235A | Power of Adjudicating Authority to impose penalties | 218 | |
| PART V | 236 | Trial of offences by Special Court | 219 | |
| PART V | 237 | Appeal and revision | 219 | |
| PART V | 238 | Provisions of this Code to override other laws | 219 | |
| PART V | 238A | Limitation | 220 | |
| PART V | 239 | Power to make rules | 221 | |
| PART V | 240 | Power to make regulations | 224 | |
| PART V | 240A | Application of this Code to micro, small and medium enterprises | 233 | |
| PART V | 240B | Electronic portal for facilitating procedures | 234 | |
| PART V | 240C | Power to make rules for cross-border insolvency | 234 | |
| PART V | 241 | Rules and regulations to be laid before Parliament | 235 | |
| PART V | 242 | Power to remove difficulties | 235 | |
| PART V | 243 | Repeal of certain enactments and savings | 236 | |
| PART V | 244 | Transitional provisions | 237 | |
| PART V | 245 | Amendments of Act 9 of 1932 | 237 | |
| PART V | 246 | Amendments of Act 1 of 1944 | 238 | |
| PART V | 247 | Amendments of Act 43 of 1961 | 238 | |
| PART V | 248 | Amendments of Act 52 of 1962 | 238 | |
| PART V | 249 | Amendments of Act 51 of 1993 | 238 | |
| PART V | 250 | Amendments of Act 32 of 1994 | 238 | |
| PART V | 251 | Amendments of Act 54 of 2002 | 238 | |
| PART V | 252 | Amendments of Act 1 of 2004 | 238 | |
| PART V | 253 | Amendments of Act 51 of 2007 | 238 | |
| PART V | 254 | Amendments of Act 6 of 2009 | 238 | |
| PART V | 255 | Amendments of Act 18 of 2013 | 238 | |
| PART V | ACT, 1944 | 239 | ||
| PART V | ACT, 1961 | 239 | ||
| PART V | ACT, 1962 | 239 | ||
| PART V | DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993 | 239 | ||
| PART V | AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 | 241 | ||
| PART V | SETTLEMENT SYSTEMS ACT, 2007 | 242 | ||
| PART V | ACT, 2013 | 243 | ||
| PART V | CLAUSE (d) OF SECTION 29A | 252 | ||
| PART V | 1 | Short title and commencement | 254 | |
| PART V | 2 | Application | 254 | |
| PART V | 3 | Definitions | 254 | |
| PART V | 4 | Application by financial creditor | 255 | |
| PART V | 5 | Demand notice by operational creditor | 255 | |
| PART V | 6 | Application by operational creditor | 256 | |
| PART V | 7 | Application by corporate applicant | 256 | |
| PART V | 8 | Withdrawal of application | 256 | |
| PART V | 9 | Interim resolution professional | 256 | |
| PART V | 10 | Filing of application and application fee | 257 | |
| PART V | FORM 1— | APPLICATION BY FINANCIAL CREDITOR(S) TO INITIATE CORPORATE INSOLVENCY RESOLUTION PROCESS UNDER CHAPTER II OF PART II/ UNDER CHAPTER IV OF PART II OF THE CODE | 257 | |
| PART V | FORM 2—WRITTEN | COMMUNICATION BY PROPOSED INTERIM RESOLUTION PROFESSIONAL | 261 | |
| PART V | FORM 3— | FORM OF DEMAND NOTICE/INVOICE DEMANDING PAYMENT UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 | 263 | |
| PART V | FORM 4—FORM | OF NOTICE WITH WHICH INVOICE DEMANDING PAYMENT IS TO BE ATTACHED | 265 | |
| PART V | FORM 5A— | TO WHOMSOEVER IT MAY CONCERN | 270 | |
| PART V | CORPORATE INSOLVENCY RESOLUTION PROCESS *UNDER CHAPTER II OF PART II/ UNDER CHAPTER IV OF PART II OF THE CODE | 270 | ||
| PART V | SCHEDULE | 274 | ||
| PART V | RULES, | 2016 | ||
| PART V | 1 | Short title and Commencement | 275 | |
| PART V | 2 | Definitions | 275 | |
| PART V | 3 | Terms and conditions of service of Chairperson and members | 276 | |
| PART V | 4 | Pay | 276 | |
| PART V | 5 | Dearness Allowance | 276 | |
| PART V | 6 | Entertainment Allowance | 276 | |
| PART V | 7 | Leave | 277 | |
| PART V | 8 | Leave Sanctioning Authority | 277 | |
| PART V | 9 | Provident Fund and Pension | 277 | |
| PART V | 10 | Travelling Allowance | 278 | |
| PART V | 11 | Leave Travel Concession | 278 | |
| PART V | 12 | Accommodation | 278 | |
| PART V | 13 | Conveyance | 279 | |
| PART V | 14 | Bonus | 279 | |
| PART V | 15 | Sitting Fees and Board’s Meetings | 279 | |
| PART V | 16 | Encashment of Leave | 279 | |
| PART V | 17 | Facilities for medical treatment | 279 | |
| PART V | 18 | Residuary Provisions | 279 | |
| PART V | 19 | Terms and Conditions of Services of Part-time Members | 279 | |
| PART V | 20 | Fee and Allowances of Part-time Members | 280 | |
| PART V | 21 | Power to Relax | 280 | |
| PART V | INDIA (ANNUAL REPORT) RULES, | 2018 | ||
| PART V | 1 | Short title and commencement | 281 | |
| PART V | 2 | Definitions | 281 | |
| PART V | 3 | Form of Annual Report | 281 | |
| PART V | 4 | Time schedule for submission of Annual Report | 281 | |
| PART V | RULES, | 2018 | ||
| PART V | 1 | Short title and commencement | 283 | |
| PART V | 2 | Definitions | 283 | |
| PART V | 3 | Maintenance of accounts and records | 283 | |
| PART V | the Board | 284 | ||
| PART V | FORM ‘A’—FORM OF FINANCIAL STATEMENTS | 284 | ||
| PART V | PERIOD/YEAR ENDED | 285 | ||
| PART V | SCHEDULE | I—FUND | 288 | |
| PART V | SCHEDULE | II—RESERVES AND SURPLUS | 289 | |
| PART V | SCHEDULE | III—EARMARKED/ENDOWMENT FUNDS | 289 | |
| PART V | SCHEDULE | IV—SECURED LOANS AND BORROWINGS | 290 | |
| PART V | SCHEDULE | V—UNSECURED LOANS AND BORROWINGS | 291 | |
| PART V | SCHEDULE | VI—DEFERRED CREDIT LIABILITIES | 291 | |
| PART V | SCHEDULE | VII—CURRENT LIABILITIES AND PROVISIONS | 292 | |
| PART V | SCHEDULE | VIII—FIXED ASSETS | 293 | |
| PART V | SCHEDULE | IX—INVESTMENTS FROM EARMARKED/ENDOWMENT FUNDS | 294 | |
| PART V | SCHEDULE | X—INVESTMENTS – OTHERS | 294 | |
| PART V | SCHEDULE | XI—CURRENT ASSETS, LOANS, ADVANCES ETC. | 295 | |
| PART V | SCHEDULE | XII—GRANTS/SUBSIDIES | 296 | |
| PART V | SCHEDULE | XIII—FEES/SUBSCRIPTIONS | 296 | |
| PART V | SCHEDULE | XIV—INCOME FROM INVESTMENTS | 297 | |
| PART V | SCHEDULE | XV—INCOME FROM ROYALTY, PUBLICATION ETC. | 297 | |
| PART V | SCHEDULE | XVI—INTEREST EARNED | 298 | |
| PART V | SCHEDULE | XVII—OTHER INCOME | 298 | |
| PART V | SCHEDULE | XVIII—ESTABLISHMENT EXPENSES | 299 | |
| PART V | SCHEDULE | XIX—OTHER ADNIMISTRATIVE EXPENSES | 299 | |
| PART V | SCHEDULE | XX—EXPENDITURE ON GRANTS, SUBSIDIES ETC. | 300 | |
| PART V | SCHEDULE | XXI—INTEREST | 300 | |
| PART V | SCHEDULE | – XXII—SIGNIFICANT ACCOUNTING POLICIES (Illustrative) | 301 | |
| PART V | SCHEDULE | – XXIII—CONTINGENT LIABILITIES AND NOTES ON ACCOUNTS (Illustrative) | 302 | |
| PART V | 1 | Short title and commencement | 305 | |
| PART V | 2 | Definitions | 305 | |
| PART V | 3 | Outdoor treatment | 306 | |
| PART V | 4 | Indoor treatment | 306 | |
| PART V | 5 | Monthly subscriptions | 306 | |
| PART V | 6 | Exercise of option by beneficiary | 306 | |
| PART V | INSOLVENCY AND BANKRUPTCY (APPLICATION TO ADJUDICATING AUTHORITY FOR INSOLVENCY RESOLUTION PROCESS FOR PERSONAL GUARANTORS TO CORPORATE DEBTORS) RULES, | 2019 | ||
| PART V | 1 | Short title and commencement | 307 | |
| PART V | 2 | Application | 307 | |
| PART V | 3 | Definitions | 307 | |
| PART V | 4 | Relatives | 308 | |
| PART V | 5 | Excluded assets | 308 | |
| PART V | 6 | Application by guarantor | 308 | |
| PART V | 7 | Application by creditor | 309 | |
| PART V | 8 | Confirmation or nomination of insolvency professional | 309 | |
| PART V | 9 | Copy of application | 309 | |
| PART V | 10 | Filing of application and documents | 309 | |
| PART V | 11 | Withdrawal of application | 310 | |
| PART V | FORM A—APPLICATION | BY GUARANTOR TO INITIATE INSOLVENCY RESOLUTION PROCESS | 310 | |
| PART V | FORM B—FORM | OF DEMAND NOTICE | 318 | |
| PART V | FORM C—APPLICATION | BY CREDITOR TO INITIATE INSOLVENCY RESOLUTION PROCESS | 320 | |
| PART V | FORM D—APPLICATION | FOR WITHDRAWAL OF INSOLVENCY RESOLUTION PROCESS | 327 | |
| PART V | PROCESS FOR PERSONAL GUARANTORS TO CORPORATE DEBTORS) RULES, | 2019 | ||
| PART V | 1 | Short title and commencement | 328 | |
| PART V | 2 | Application | 328 | |
| PART V | 3 | Definitions | 328 | |
| PART V | 4 | Relatives | 329 | |
| PART V | 5 | Excluded assets | 329 | |
| PART V | 6 | Application by guarantor | 330 | |
| PART V | 7 | Application by creditor | 330 | |
| PART V | 8 | Confirmation or nomination of insolvency professional | 330 | |
| PART V | 9 | Public notice | 330 | |
| PART V | 10 | Notice to creditors | 330 | |
| PART V | 11 | Statement of financial position | 330 | |
| PART V | 12 | Claim with proof | 330 | |
| PART V | 13 | Notice of dividend | 331 | |
| PART V | 14 | Copy of application | 331 | |
| PART V | 15 | Restriction on bankrupt | 331 | |
| PART V | 16 | Filing of application and documents | 331 | |
| PART V | BANKRUPTCY PROCESS | 332 | ||
| PART V | BANKRUPTCY PROCESS | 341 | ||
| PART V | FORM C—PUBLIC | NOTICE | 348 | |
| PART V | FORM D—NOTICE | TO CREDITOR | 349 | |
| PART V | FORM E—STATEMENT | OF FINANCIAL POSITION OF BANKRUPT | 350 | |
| PART V | FORM F—CLAIM | WITH PROOF BY A CREDITOR | 352 | |
| PART V | SERVICE PROVIDERS AND APPLICATION TO ADJUDICATING AUTHORITY) RULES, | 2019 | ||
| PART V | 1 | Short title and commencement | 357 | |
| PART V | 2 | Application | 357 | |
| PART V | 3 | Definitions | 357 | |
| PART V | 4 | General modifications | 358 | |
| PART V | 5 | Corporate Insolvency Resolution Process of financial service providers | 358 | |
| PART V | 6 | Filing of application and application fee | 360 | |
| PART V | 7 | Liquidation Process | 360 | |
| PART V | 8 | Voluntary Liquidation Process | 361 | |
| PART V | 9 | Insolvency Professional | 361 | |
| PART V | 10 | Assets of third parties, etc. | 361 | |
| PART V | FORM 1—APPLICATION | BY APPROPRIATE REGULATOR TO INITIATE INSOLVENCY RESOLUTION PROCESS UNDER THE CODE | 362 | |
| PART V | FORM 2—WRITTEN | COMMUNICATION BY THE ADMINISTRATOR | 364 | |
| PART V | 1 | Short title and commencement | 365 | |
| PART V | 2 | Application | 365 | |
| PART V | 3 | Definitions | 365 | |
| PART V | 4 | Filing of application | 365 | |
| PART V | UNDER CHAPTER III-A OF THE CODE | 366 | ||
| PART V | CHAPTER I | 1 | Short title and commencement | 373 |
| PART V | CHAPTER I | 2 | Definitions | 373 |
| PART V | CHAPTER II | 3 | Insolvency professional agencies to have Bye-Laws | 374 |
| PART V | CHAPTER II | 4 | Amendment of Bye-Laws | 374 |
| PART V | CHAPTER III | 5 | Composition of the Governing Board REG. 5 | 375 |
| PART V | CHAPTER III | 5A | Managing director | 377 |
| PART V | CHAPTER III | 5B | Compliance | 378 |
| PART V | CHAPTER III | 6 | Self-evaluation | 379 |
| PART V | CHAPTER III | 7 | Compliance Officer | 379 |
| PART V | CHAPTER III | PROFESSIONAL AGENCY | 379 | |
| PART V | CHAPTER III | FORM A—CERTIFICATE | OF PROFESSIONAL MEMBERSHIP | 394 |
| PART V | CHAPTER III | FORM B—AUTHORISATION | FOR ASSIGNMENT | 394 |
| PART V | CHAPTER III | OF INDIA (INSOLVENCY PROFESSIONAL AGENCIES) REGULATIONS, | 2016 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 396 |
| PART V | CHAPTER I | 2 | Definitions | 396 |
| PART V | CHAPTER II | 3 | Eligibility for registration | 397 |
| PART V | CHAPTER II | 4 | Application for registration or renewal thereof | 398 |
| PART V | CHAPTER II | 5 | Grant of certificate of registration | 399 |
| PART V | CHAPTER II | 6 | Procedure for rejecting application | 400 |
| PART V | CHAPTER III | 7 | Surrender of registration | 401 |
| PART V | CHAPTER III | 8 | Disciplinary proceedings | 402 |
| PART V | CHAPTER III | 9 | Appeal | 403 |
| PART V | CHAPTER IV | 10 | Grant of in-principle approval | 403 |
| PART V | CHAPTER IV | SCHEDULE | 404 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 409 |
| PART V | CHAPTER I | 2 | Definitions | 409 |
| PART V | CHAPTER III | 4 | Eligibility | 410 |
| PART V | CHAPTER III | 5 | Qualifications and experience | 411 |
| PART V | CHAPTER III | 6 | Application for certificate of registration | 412 |
| PART V | CHAPTER III | 7 | Certificate of registration | 413 |
| PART V | CHAPTER III | 7A | Authorisation for assignment | 415 |
| PART V | CHAPTER III | 7B | Number of Assignments | 415 |
| PART V | CHAPTER III | 8 | Refusal to grant certificate | 415 |
| PART V | CHAPTER III | 9 | [Omitted] | 415 |
| PART V | CHAPTER IV | 10 | Temporary surrender | 416 |
| PART V | CHAPTER IV | 10A | Surrender of certificate of registration | 417 |
| PART V | CHAPTER IV | 10B | Special procedure for action on surrender, expulsion, etc. | 417 |
| PART V | CHAPTER IV | 11 | Disciplinary Proceedings | 418 |
| PART V | CHAPTER V | 12 | Recognition of Insolvency Professional Entities | 419 |
| PART V | CHAPTER V | 13. | 420 | |
| PART V | CHAPTER V | 14. | 422 | |
| PART V | CHAPTER V | 15 | Interest | 422 |
| PART V | CHAPTER V | FIRST SCHEDULE—CODE OF CONDUCT FOR INSOLVENCY PROFESSIONALS | 423 | |
| PART V | CHAPTER V | SECOND SCHEDULE | 428 | |
| PART V | CHAPTER V | APPLICATION FORM | 428 | |
| PART V | CHAPTER V | APPLICATION FORM | 434 | |
| PART V | CHAPTER V | FORM B—CERTIFICATE | OF REGISTRATION | 438 |
| PART V | CHAPTER V | FORM C | — | 438 |
| PART V | CHAPTER V | FORM D—CERTIFICATE | OF RECOGNITION | 440 |
| PART V | CHAPTER V | FORM E | — | 441 |
| PART V | CHAPTER V | FORM EA | — | 442 |
| PART V | CHAPTER V | FORM F | — | 443 |
| PART V | CHAPTER V | FORM G | — | 445 |
| PART V | CHAPTER V | FORM H | — | 446 |
| PART V | CHAPTER I | 1 | Short title and commencement | 448 |
| PART V | CHAPTER I | 2 | Definitions | 448 |
| PART V | CHAPTER I | 2A | Record or evidence of default by financial creditor | 450 |
| PART V | CHAPTER I | 2B | Information to be furnished by operational creditor | 450 |
| PART V | CHAPTER I | 2C | Submission of information along with application | 451 |
| PART V | CHAPTER I | 2D | Details of debt, default and limitation in respect of applications under section 7 or section 9 | 451 |
| PART V | CHAPTER I | 2E | Submission of information by the corporate applicant | 451 |
| PART V | CHAPTER II | 3 | Eligibility for resolution professional | 453 |
| PART V | CHAPTER II | 3A | Duty to extend assistance and cooperation | 454 |
| PART V | CHAPTER II | 4 | Access to books | 456 |
| PART V | CHAPTER II | 4A | Choice of authorised representative | 457 |
| PART V | CHAPTER II | 4B | Disclosure of change in name and address of corporate debtor | 457 |
| PART V | CHAPTER II | 4C | Process e-mail | 457 |
| PART V | CHAPTER II | 4D | Operating separate bank account for each real estate project | 458 |
| PART V | CHAPTER II | 4E | Handing over the possession | 458 |
| PART V | CHAPTER II | 5 | Extortionate credit transaction | 458 |
| PART V | CHAPTER III | 6 | Public announcement | 458 |
| PART V | CHAPTER III | 6A | Communication to creditors | 459 |
| PART V | CHAPTER IV | 7 | Claims by operational creditors | 459 |
| PART V | CHAPTER IV | 8 | Claims by financial creditors | 460 |
| PART V | CHAPTER IV | 8A | Claims by creditors in a class | 461 |
| PART V | CHAPTER IV | 9 | Claims by workmen and employees | 461 |
| PART V | CHAPTER IV | 9A | Claims by other creditors | 462 |
| PART V | CHAPTER IV | 10 | Substantiation of claims | 462 |
| PART V | CHAPTER IV | 11 | Cost of proof | 462 |
| PART V | CHAPTER IV | 12 | Submission of proof of claims | 462 |
| PART V | CHAPTER IV | 12A | Updation of claim | 463 |
| PART V | CHAPTER IV | 13 | Verification of claims | 463 |
| PART V | CHAPTER IV | 14 | Determination of amount of claim | 464 |
| PART V | CHAPTER IV | 15 | Debt in foreign currency | 465 |
| PART V | CHAPTER V | 16 | Committee with only operational creditors | 465 |
| PART V | CHAPTER V | 16A | Authorised representative | 466 |
| PART V | CHAPTER V | 16B | Committee with only creditors in a class | 469 |
| PART V | CHAPTER V | 16C | Appointment of facilitators | 469 |
| PART V | CHAPTER V | 16D | Roles and responsibilities of the facilitator | 470 |
| PART V | CHAPTER V | public financial institutions hold significant voting share | 470 | |
| PART V | CHAPTER V | 17 | Constitution of committee | 470 |
| PART V | CHAPTER VI | 18 | Meetings of the committee | 471 |
| PART V | CHAPTER VI | 19. | 472 | |
| PART V | CHAPTER VI | 20 | Service of notice by electronic means | 472 |
| PART V | CHAPTER VI | 21 | Contents of the notice for meeting | 473 |
| PART V | CHAPTER VI | 22 | Quorum at the meeting | 474 |
| PART V | CHAPTER VI | 23 | Participation through video conferencing | 474 |
| PART V | CHAPTER VI | 24 | Conduct of meeting | 475 |
| PART V | CHAPTER VII | 25 | Voting by the committee | 475 |
| PART V | CHAPTER VII | 25A | Voting by Authorised Representative | 476 |
| PART V | CHAPTER VII | 26 | Voting through electronic means | 477 |
| PART V | CHAPTER VIII | 27 | Appointment of Professionals | 478 |
| PART V | CHAPTER VIII | 28 | Transfer of debt due to creditors | 479 |
| PART V | CHAPTER VIII | 28A | Transfer of assets of guarantor taken into possession | 479 |
| PART V | CHAPTER VIII | 28B | Facilitation of transfer of assets | 480 |
| PART V | CHAPTER VIII | 29 | Sale of assets outside the ordinary course of business | 480 |
| PART V | CHAPTER VIII | 30 | Assistance of local district administration | 481 |
| PART V | CHAPTER VIII | 30A | Withdrawal of application | 481 |
| PART V | CHAPTER VIII | 30B | Audit of corporate debtor | 482 |
| PART V | CHAPTER VIII | of real estate projects | 482 | |
| PART V | CHAPTER IX | 31 | Insolvency resolution process costs | 482 |
| PART V | CHAPTER IX | 31A | Regulatory Fee | 483 |
| PART V | CHAPTER IX | 31B | Approval of committee for insolvency resolution process costs | 484 |
| PART V | CHAPTER IX | 32 | Essential supplies | 484 |
| PART V | CHAPTER IX | 33 | Costs of the interim resolution professional | 485 |
| PART V | CHAPTER IX | 34 | Resolution professional costs | 485 |
| PART V | CHAPTER IX | 34A | Disclosure of Costs | 485 |
| PART V | CHAPTER IX | 34B | Fee to be paid to interim resolution professional and resolution professional | 485 |
| PART V | CHAPTER X | 35 | Fair value and Liquidation value | 486 |
| PART V | CHAPTER X | 35A | Preferential and other transactions | 488 |
| PART V | CHAPTER X | 36 | Information memorandum | 489 |
| PART V | CHAPTER X | 36A | Invitation for expression of interest | 492 |
| PART V | CHAPTER X | 36B | Request for resolution plans | 495 |
| PART V | CHAPTER X | 36C | Strategy for marketing of assets of the corporate debtor | 496 |
| PART V | CHAPTER X | 37 | Resolution plan | 497 |
| PART V | CHAPTER X | 38 | Mandatory contents of the resolution plan | 498 |
| PART V | CHAPTER X | 38A | Treatment of allottees not filing claims | 500 |
| PART V | CHAPTER X | 39 | Approval of resolution plan | 501 |
| PART V | CHAPTER X | 39A | Preservation of records | 504 |
| PART V | CHAPTER X | 39B | Meeting liquidation cost | 505 |
| PART V | CHAPTER X | 39BA. Assessment of Compromise or Arrangement | 506 | |
| PART V | CHAPTER X | 39C | [Omitted] | 506 |
| PART V | CHAPTER X | 39D | Fee of the liquidator | 506 |
| PART V | CHAPTER X | 40 | Extension of the corporate insolvency resolution process period | 507 |
| PART V | CHAPTER X | 40A | Model time-line for corporate insolvency resolution process | 507 |
| PART V | CHAPTER X | 40B | Filing of Forms | 509 |
| PART V | CHAPTER X | 40C | Special provision relating to time-line | 510 |
| PART V | CHAPTER X | 40D | Decision for liquidation | 511 |
| PART V | CHAPTER X | resolution process | 511 | |
| PART V | CHAPTER X | 40F | Restoration of corporate insolvency resolution process | 511 |
| PART V | CHAPTER X | SCHEDULE-I | (Omitted)] | 512 |
| PART V | CHAPTER X | SCHEDULE | I | 541 |
| PART V | CHAPTER I | 1 | Short title and commencement | 563 |
| PART V | CHAPTER I | 2 | Definitions | 563 |
| PART V | CHAPTER I | 2A | Contributions to liquidation costs | 565 |
| PART V | CHAPTER I | 2B | Compromise or arrangement | 566 |
| PART V | CHAPTER II | 3 | Eligibility for appointment as liquidator | 567 |
| PART V | CHAPTER II | 3A | Recommendation of liquidator by committee of creditors | 567 |
| PART V | CHAPTER II | 4 | Liquidator’s fee | 568 |
| PART V | CHAPTER III | 5 | Reporting | 569 |
| PART V | CHAPTER III | 6 | Registers and books of account | 570 |
| PART V | CHAPTER III | 7 | Appointment of professionals | 571 |
| PART V | CHAPTER III | 8 | Committee of creditors | 571 |
| PART V | CHAPTER III | 8A | Facilitation of transfer of assets | 573 |
| PART V | CHAPTER III | 8B | Replacement of liquidator | 573 |
| PART V | CHAPTER III | 9 | Personnel to extend cooperation to liquidator | 574 |
| PART V | CHAPTER III | 10 | Disclaimer of onerous property | 574 |
| PART V | CHAPTER III | 11 | Extortionate credit transactions | 575 |
| PART V | CHAPTER IV | 12 | Public announcement by liquidator | 575 |
| PART V | CHAPTER IV | 12A | Process email ID | 576 |
| PART V | CHAPTER IV | 13 | Preliminary report | 576 |
| PART V | CHAPTER IV | 14 | Early dissolution | 576 |
| PART V | CHAPTER IV | 15 | Progress reports | 577 |
| PART V | CHAPTER V | 16 | Submission of claim | 579 |
| PART V | CHAPTER V | 17 | Claims by operational creditors | 580 |
| PART V | CHAPTER V | 18 | Claims by financial creditors | 580 |
| PART V | CHAPTER V | 19 | Claims by workmen and employees | 581 |
| PART V | CHAPTER V | 20 | Claims by other stakeholders | 581 |
| PART V | CHAPTER V | 21 | Proving security interest | 582 |
| PART V | CHAPTER V | 21A | Relinquishment of security interest | 582 |
| PART V | CHAPTER V | 22 | Production of bills of exchange and promissory notes | 583 |
| PART V | CHAPTER V | 23 | Substantiation of claims | 584 |
| PART V | CHAPTER V | 24 | Cost of proof | 584 |
| PART V | CHAPTER V | 25 | Determination of quantum of claim | 584 |
| PART V | CHAPTER V | 26 | Debt in foreign currency | 584 |
| PART V | CHAPTER V | 27 | Periodical payments | 584 |
| PART V | CHAPTER V | 28 | Debt payable at future time | 584 |
| PART V | CHAPTER V | 29 | Mutual credits and set-off | 585 |
| PART V | CHAPTER V | 30 | Verification of claims | 585 |
| PART V | CHAPTER V | 30A | Transfer of debt due to creditors | 585 |
| PART V | CHAPTER V | 31 | List of stakeholders | 586 |
| PART V | CHAPTER VI | 32 | Sale of Assets, etc. | 588 |
| PART V | CHAPTER VI | 32A | [Omitted] | 589 |
| PART V | CHAPTER VI | 32B | [Omitted] | 589 |
| PART V | CHAPTER VI | 33 | Mode of sale | 589 |
| PART V | CHAPTER VI | 34 | Asset memorandum | 590 |
| PART V | CHAPTER VI | 35 | Valuation of assets or business intended to be sold | 592 |
| PART V | CHAPTER VI | 36 | Asset sale report | 593 |
| PART V | CHAPTER VI | 37 | Realization of security interest by secured creditor | 594 |
| PART V | CHAPTER VI | 37A | Assignment of not readily realizable assets | 595 |
| PART V | CHAPTER VI | 38 | Distribution of unsold assets | 595 |
| PART V | CHAPTER VI | 39 | Recovery of monies due | 595 |
| PART V | CHAPTER VI | 40 | Liquidator to realize uncalled capital or unpaid capital contribution | 596 |
| PART V | CHAPTER VII | 41 | All money to be paid in to bank account | 596 |
| PART V | CHAPTER VII | 42 | Distribution | 597 |
| PART V | CHAPTER VII | 43 | Return of money | 597 |
| PART V | CHAPTER VII | 44 | Completion of liquidation | 597 |
| PART V | CHAPTER VII | 44A | Treatment of avoidance of transaction | 598 |
| PART V | CHAPTER VII | 45 | Final report prior to dissolution | 598 |
| PART V | CHAPTER VII | 45A | Preservation of records | 598 |
| PART V | CHAPTER VII | 46 | Corporate Liquidation Account | 600 |
| PART V | CHAPTER VII | 46A | Exclusion of certain assets from the liquidation estate | 602 |
| PART V | CHAPTER VII | 47 | Model time-line for liquidation process | 603 |
| PART V | CHAPTER VII | 47A | Exclusion of period of lockdown | 606 |
| PART V | CHAPTER VII | 47B | Filing of Forms | 606 |
| PART V | CHAPTER VII | SCHEDULE | I—MODE OF SALE | 607 |
| PART V | CHAPTER VII | SCHEDULE | II [Omitted] | 611 |
| PART V | CHAPTER VII | SCHEDULE | III | 633 |
| PART V | CHAPTER VII | 1 | Short title and commencement | 642 |
| PART V | CHAPTER VII | 2 | Definitions | 642 |
| PART V | CHAPTER VII | 3 | Research Associates and Consultants | 643 |
| PART V | CHAPTER VII | 4 | Functions of Research Associates and Consultants | 643 |
| PART V | CHAPTER VII | 5 | Qualifications, experience and remuneration | 643 |
| PART V | CHAPTER VII | 6 | Evaluation of performance | 643 |
| PART V | CHAPTER VII | 7 | Eelection of Research Associates and Consultants | 643 |
| PART V | CHAPTER VII | 8 | Terms and condition of engagement | 644 |
| PART V | CHAPTER VII | 9 | Power to relax | 645 |
| PART V | CHAPTER VII | SCHEDULE | I | 645 |
| PART V | CHAPTER VII | SCHEDULE | II | 647 |
| PART V | CHAPTER VII | MEETINGS) REGULATIONS, | 2017 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 648 |
| PART V | CHAPTER I | 2 | Definitions | 648 |
| PART V | CHAPTER II | 3 | Governing Board Businesses | 649 |
| PART V | CHAPTER III | 4 | Convening of Meetings | 650 |
| PART V | CHAPTER III | 5 | Notice | 650 |
| PART V | CHAPTER III | 6 | Quorum | 651 |
| PART V | CHAPTER III | 7 | Leave of absence | 651 |
| PART V | CHAPTER III | 8 | Minutes of the meeting | 651 |
| PART V | CHAPTER III | 9 | Secretary | 651 |
| PART V | CHAPTER IV | 10 | Member not to participate in meetings in certain cases | 651 |
| PART V | CHAPTER IV | 11 | Obligation of a Member to give information of disqualification | 652 |
| PART V | CHAPTER IV | 12 | Declaration of fidelity | 652 |
| PART V | CHAPTER V | 13 | Manner and form in which contracts may be executed | 652 |
| PART V | CHAPTER V | 14 | Affixation of Common Seal | 652 |
| PART V | CHAPTER VI | 15 | Power to regulate procedure in certain circumstances | 653 |
| PART V | CHAPTER VI | 16 | Effect of any irregularity of procedure | 653 |
| PART V | CHAPTER VI | 17 | Meetings of Committees | 653 |
| PART V | CHAPTER VI | 18 | Relaxation | 653 |
| PART V | CHAPTER VI | SCHEDULE | I—OATH OF OFFICE AND SECRECY | 653 |
| PART V | CHAPTER VI | SCHEDULE | II—CHARTER OF CONDUCT FOR MEMBERS OF BOARD | 654 |
| PART V | CHAPTER VI | INDIA (ADVISORY COMMITTEE) REGULATIONS, | 2017 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 657 |
| PART V | CHAPTER I | 2 | Definitions | 657 |
| PART V | CHAPTER II | 3 | Constitution of Advisory Committee | 658 |
| PART V | CHAPTER II | 4 | Composition of Advisory Committee | 658 |
| PART V | CHAPTER III | 5 | Meetings | 659 |
| PART V | CHAPTER III | 6 | Fee | 659 |
| PART V | CHAPTER III | 7 | Conduct | 659 |
| PART V | CHAPTER III | INDIA (INFORMATION UTILITIES) REGULATIONS, | 2017 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 660 |
| PART V | CHAPTER I | 2 | Definitions | 660 |
| PART V | CHAPTER II | 3 | Eligibility for registration | 662 |
| PART V | CHAPTER II | 4 | Application for registration or renewal thereof | 663 |
| PART V | CHAPTER II | 5 | Disposal of application | 663 |
| PART V | CHAPTER II | 6 | Conditions of registration | 665 |
| PART V | CHAPTER II | 7 | In-principle approval | 666 |
| PART V | CHAPTER III | 8 | Shareholding | 667 |
| PART V | CHAPTER III | 9 | Composition of the Governing Board | 668 |
| PART V | CHAPTER III | 9A | Managing director | 669 |
| PART V | CHAPTER III | 9B | Compliance | 670 |
| PART V | CHAPTER III | 10 | Regulatory Committee | 670 |
| PART V | CHAPTER III | 11 | Compliance officer | 670 |
| PART V | CHAPTER III | 12 | Grievance Redressal Policy | 671 |
| PART V | CHAPTER IV | 13 | Technical Standards | 672 |
| PART V | CHAPTER IV | 14 | Technical Committee | 672 |
| PART V | CHAPTER IV | 15 | Bye-laws of information utilities | 673 |
| PART V | CHAPTER IV | 16 | Amendment to bye-laws | 673 |
| PART V | CHAPTER V | 17 | Provision of services | 674 |
| PART V | CHAPTER V | 18 | Registration of users | 674 |
| PART V | CHAPTER V | 19 | Use of different information utilities | 674 |
| PART V | CHAPTER V | 20 | Acceptance and receipt of information | 675 |
| PART V | CHAPTER V | 21 | Authentication of default | 675 |
| PART V | CHAPTER V | 21A | Verification of information before issuance of a record of default or information of dispute | 678 |
| PART V | CHAPTER V | 21B | Dissemination of public announcement | 679 |
| PART V | CHAPTER V | 22 | Storage of information | 679 |
| PART V | CHAPTER V | 23 | Access to information | 679 |
| PART V | CHAPTER V | 24 | Accessing information stored with other information utilities | 679 |
| PART V | CHAPTER V | 25 | Annual statement | 680 |
| PART V | CHAPTER V | 26 | Porting information from registries | 680 |
| PART V | CHAPTER V | 27 | Duties of the user | 680 |
| PART V | CHAPTER VI | 28 | General duties | 680 |
| PART V | CHAPTER VI | 29 | Non-discrimination | 680 |
| PART V | CHAPTER VI | 30 | Other duties | 681 |
| PART V | CHAPTER VI | 31 | Insurance | 681 |
| PART V | CHAPTER VI | 32 | Fee | 681 |
| PART V | CHAPTER VI | 33 | Risk management | 682 |
| PART V | CHAPTER VI | 34 | Audit of information technology framework | 682 |
| PART V | CHAPTER VI | 35 | Preservation Policy | 682 |
| PART V | CHAPTER VI | 36 | Provision of information to the Board | 682 |
| PART V | CHAPTER VI | 36A | Publication of statistical information | 683 |
| PART V | CHAPTER VI | 37 | Inspection | 683 |
| PART V | CHAPTER VII | 38 | Storing information submitted by insolvency professionals | 683 |
| PART V | CHAPTER VIII | 39 | Exit management plan | 684 |
| PART V | CHAPTER VIII | 40 | Surrender of registration | 684 |
| PART V | CHAPTER VIII | 41 | Disciplinary proceedings | 684 |
| PART V | CHAPTER VIII | 42 | Appeal | 686 |
| PART V | CHAPTER VIII | SCHEDULE | (Omitted) | 686 |
| PART V | CHAPTER I | 1 | Short title and commencement | 696 |
| PART V | CHAPTER I | 2 | Definitions | 696 |
| PART V | CHAPTER II | 3 | Initiation of Liquidation | 697 |
| PART V | CHAPTER II | 4 | Effect of liquidation | 698 |
| PART V | CHAPTER III | 5 | Appointment of liquidator | 699 |
| PART V | CHAPTER III | 6 | Eligibility for appointment as liquidator | 699 |
| PART V | CHAPTER III | 7 | Liquidator’s remuneration | 700 |
| PART V | CHAPTER IV | 8 | Reporting | 700 |
| PART V | CHAPTER IV | 9 | Preliminary Report | 700 |
| PART V | CHAPTER IV | 10 | Registers and books of account | 701 |
| PART V | CHAPTER IV | 11 | Engagement of professionals | 702 |
| PART V | CHAPTER IV | 12 | Assistance by stakeholders | 702 |
| PART V | CHAPTER IV | 13 | Extortionate credit transactions | 702 |
| PART V | CHAPTER IV | 14 | Public announcement by the liquidator | 702 |
| PART V | CHAPTER V | 15 | Proof of claim | 703 |
| PART V | CHAPTER V | 16 | Claims by operational creditors | 703 |
| PART V | CHAPTER V | 17 | Claims by financial creditors | 704 |
| PART V | CHAPTER V | 18 | Claims by workmen and employees | 704 |
| PART V | CHAPTER V | 19 | Claims by other stakeholders | 705 |
| PART V | CHAPTER V | 20 | Proving security interest | 705 |
| PART V | CHAPTER V | 21 | Production of bills of exchange and promissory notes | 705 |
| PART V | CHAPTER V | 22 | Substantiation of claims | 706 |
| PART V | CHAPTER V | 23 | Cost of proof | 706 |
| PART V | CHAPTER V | 24 | Determination of quantum of claim | 706 |
| PART V | CHAPTER V | 25 | Debt in foreign currency | 706 |
| PART V | CHAPTER V | 26 | Periodical payments | 706 |
| PART V | CHAPTER V | 27 | Debt payable at future time | 706 |
| PART V | CHAPTER V | 28 | Mutual credits and set-off | 707 |
| PART V | CHAPTER V | 28A | Submission and updation of claims | 707 |
| PART V | CHAPTER V | 29 | Verification of claims | 707 |
| PART V | CHAPTER V | 30 | List of stakeholders | 708 |
| PART V | CHAPTER VI | 31 | Manner of sale | 708 |
| PART V | CHAPTER VI | 32 | Recovery of monies due | 708 |
| PART V | CHAPTER VI | 33 | [Omitted] | 708 |
| PART V | CHAPTER VII | 34 | All money to be paid into bank account | 709 |
| PART V | CHAPTER VII | 35 | Distribution | 709 |
| PART V | CHAPTER VII | 36 | Return of money | 709 |
| PART V | CHAPTER VII | 37 | Completion of liquidation | 709 |
| PART V | CHAPTER VII | 38 | Final Report | 710 |
| PART V | CHAPTER VII | 39 | Corporate Voluntary Liquidation Account | 711 |
| PART V | CHAPTER VII | 40 | Detection of Fraud or Insolvency | 714 |
| PART V | CHAPTER VII | 41 | Preservation of records | 714 |
| PART V | CHAPTER VII | 41A | Filing of Forms | 715 |
| PART V | CHAPTER VII | 42 | Termination of voluntary liquidation proceedings | 716 |
| PART V | CHAPTER VII | SCHEDULE | I | 739 |
| PART V | CHAPTER VII | (REMOVAL OF DIFFICULTIES) ORDER, | 2017 | |
| PART V | CHAPTER VII | 1 | Short title and commencement | 748 |
| PART V | CHAPTER VII | INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSPECTION AND INVESTIGATION) REGULATIONS, | 2017 | |
| PART V | CHAPTER I | 1 | Short title, commencement and application | 749 |
| PART V | CHAPTER I | 2 | Definitions | 749 |
| PART V | CHAPTER II | 3 | Inspection by the Board | 750 |
| PART V | CHAPTER II | 4 | Conduct of Inspection | 751 |
| PART V | CHAPTER II | 5 | Interim Inspection Report | 752 |
| PART V | CHAPTER II | 6 | Inspection Report | 752 |
| PART V | CHAPTER III | 7 | Investigation by the Board | 752 |
| PART V | CHAPTER III | 8 | Conduct of Investigation | 753 |
| PART V | CHAPTER III | 9 | Interim Investigation Report | 754 |
| PART V | CHAPTER III | 10 | Investigation Report | 755 |
| PART V | CHAPTER III-A | 10A | Investigation during disposal of complaint or grievance | 755 |
| PART V | CHAPTER III-B | 10B | Interim order on material available on record | 755 |
| PART V | CHAPTER IV | 11 | Consideration of Report | 756 |
| PART V | CHAPTER IV | 12 | Show-cause notice | 756 |
| PART V | CHAPTER IV | 13 | Disposal of Show-cause notice | 757 |
| PART V | CHAPTER V | 14 | Restitution | 758 |
| PART V | CHAPTER V | FORM A | [Omitted] | 758 |
| PART V | CHAPTER V | INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (FAST TRACK INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATIONS, | 2017 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 759 |
| PART V | CHAPTER I | 2 | Definitions | 759 |
| PART V | CHAPTER II | 3 | Eligibility for resolution professional | 761 |
| PART V | CHAPTER II | 4 | Access to books | 762 |
| PART V | CHAPTER II | 5 | Extortionate credit transaction | 762 |
| PART V | CHAPTER III | 6 | Public announcement | 762 |
| PART V | CHAPTER IV | 7 | Claims by operational creditors | 763 |
| PART V | CHAPTER IV | 8 | Claims by financial creditors | 763 |
| PART V | CHAPTER IV | 9 | Claims by workmen and employees | 764 |
| PART V | CHAPTER IV | 9A | Claims by other creditors | 764 |
| PART V | CHAPTER IV | 10 | Substantiation of claims | 765 |
| PART V | CHAPTER IV | 11 | Cost of proof proving the debt | 765 |
| PART V | CHAPTER IV | 12 | Submission of proof of claims | 765 |
| PART V | CHAPTER IV | 13 | Verification of claims | 765 |
| PART V | CHAPTER IV | 14 | Determination of amount of claim | 765 |
| PART V | CHAPTER IV | 15 | Debt in foreign currency | 766 |
| PART V | CHAPTER V | 16 | Committee with only operational creditors | 766 |
| PART V | CHAPTER V | 17 | Filings by the interim resolution professional | 767 |
| PART V | CHAPTER VI | 18 | Meetings of the committee | 767 |
| PART V | CHAPTER VI | 19 | Notice for meetings of the committee | 767 |
| PART V | CHAPTER VI | 20 | Service of notice by electronic means | 767 |
| PART V | CHAPTER VI | 21 | Contents of the notice for meeting | 768 |
| PART V | CHAPTER VI | 22 | Quorum at the meeting | 769 |
| PART V | CHAPTER VI | 23 | Participation through video conferencing | 769 |
| PART V | CHAPTER VI | 24 | Conduct of meeting | 770 |
| PART V | CHAPTER VII | 25 | Voting by the committeess | 771 |
| PART V | CHAPTER VIII | 26 | Appointment of registered valuers | 772 |
| PART V | CHAPTER VIII | 27 | Transfer of debt due to creditors | 772 |
| PART V | CHAPTER VIII | 28 | Sale of assets outside the ordinary course of business | 773 |
| PART V | CHAPTER VIII | 29 | Assistance of local district administration | 773 |
| PART V | CHAPTER IX | 30 | Fast track process costs | 773 |
| PART V | CHAPTER IX | 31 | Essential supplies | 774 |
| PART V | CHAPTER IX | 32 | Costs of the interim resolution professional | 774 |
| PART V | CHAPTER IX | 33 | Resolution professional costs | 774 |
| PART V | CHAPTER X | 34 | Fair value and Liquidation value | 775 |
| PART V | CHAPTER X | 35 | Information memorandum | 775 |
| PART V | CHAPTER X | 35A | Invitation of Resolution Plans | 777 |
| PART V | CHAPTER X | 36 | Resolution plan | 778 |
| PART V | CHAPTER X | 37 | Mandatory contents of the resolution plan | 779 |
| PART V | CHAPTER X | 38 | Approval of resolution plan | 780 |
| PART V | CHAPTER X | 39 | Extension of the fast track process period | 781 |
| PART V | CHAPTER X | SCHEDULE | 782 | |
| PART V | CHAPTER X | FORM A—PUBLIC | ANNOUNCEMENT | 782 |
| PART V | CHAPTER X | WORKMEN AND EMPLOYEES | 783 | |
| PART V | CHAPTER X | FORM C—PROOF | OF CLAIM BY FINANCIAL CREDITORS | 786 |
| PART V | CHAPTER X | FORM D—PROOF | OF CLAIM BY A WORKMAN OR AN EMPLOYEE | 788 |
| PART V | CHAPTER X | FORM E—PROOF | OF CLAIM SUBMITTED BY AUTHORISED REPRESENTATIVE OF WORKMEN AND EMPLOYEES | 791 |
| PART V | CHAPTER X | FORM F—PROOF | OF CLAIM BY CREDITORS (OTHER THAN FINANCIAL CREDITORS AND OPERATIONAL CREDITORS) | 793 |
| PART V | CHAPTER X | FORM G—INVITATION | OF RESOLUTION PLANS | 796 |
| PART V | CHAPTER X | OF INDIA (EMPLOYEES’ SERVICE) REGULATIONS, | 2017 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 798 |
| PART V | CHAPTER I | 2 | Definitions | 798 |
| PART V | CHAPTER II | 3 | Classification and appointment of employees | 799 |
| PART V | CHAPTER II | 4 | Recruitment | 799 |
| PART V | CHAPTER II | 5 | Initial Appointments to be made on minimum pay | 800 |
| PART V | CHAPTER II | 6 | Probation | 800 |
| PART V | CHAPTER II | 7 | Commencement of service | 800 |
| PART V | CHAPTER II | 8 | Resignation from service | 800 |
| PART V | CHAPTER II | 9 | Superannuation and retirement | 801 |
| PART V | CHAPTER II | 10 | Liquidated damages | 801 |
| PART V | CHAPTER III | 11 | Record of service | 801 |
| PART V | CHAPTER III | 12 | Seniority | 802 |
| PART V | CHAPTER III | 13 | Promotion | 802 |
| PART V | CHAPTER IV | 14 | [Omitted] | 802 |
| PART V | CHAPTER IV | 15 | Pay, allowances and other benefits | 802 |
| PART V | CHAPTER IV | 16 | Gratuity | 802 |
| PART V | CHAPTER IV | 17 | Pension | 803 |
| PART V | CHAPTER IV | 18 | Cessation of pay and allowances | 803 |
| PART V | CHAPTER IV | 19 | Increments | 803 |
| PART V | CHAPTER IV | 20 | Fixation of pay on promotion | 803 |
| PART V | CHAPTER IV | 21 | Hometown | 803 |
| PART V | CHAPTER V | 22 | Leave not a matter of right | 804 |
| PART V | CHAPTER V | 23 | Kinds of leave | 804 |
| PART V | CHAPTER V | 24 | Lapse of leave on cessation of service | 804 |
| PART V | CHAPTER V | 25 | Obligation to furnish Leave address | 804 |
| PART V | CHAPTER V | 26 | Leave not admissible to an employee under suspension | 805 |
| PART V | CHAPTER V | 27 | Casual leave | 805 |
| PART V | CHAPTER V | 28 | Special casual leave | 805 |
| PART V | CHAPTER V | 29 | Ordinary leave | 806 |
| PART V | CHAPTER V | 30 | Sick leave | 807 |
| PART V | CHAPTER V | 31 | Maternity leave and paternity leave | 807 |
| PART V | CHAPTER V | 32 | Accident leave | 807 |
| PART V | CHAPTER V | 33 | Extraordinary leave | 808 |
| PART V | CHAPTER V | 34 | Joining time | 808 |
| PART V | CHAPTER – VI | 35 | Definitions | 808 |
| PART V | CHAPTER – VI | 36 | Scope of an employee’s service | 809 |
| PART V | CHAPTER – VI | 37 | Liability to abide by regulations and directions | 809 |
| PART V | CHAPTER – VI | 38 | Obligation to maintain secrecy | 809 |
| PART V | CHAPTER – VI | 39 | Employees to promote Board’s interest | 809 |
| PART V | CHAPTER – VI | 40 | Prohibition against participation in politics and standing for election | 811 |
| PART V | CHAPTER – VI | 41 | Prohibition against joining certain associations and strikes | 811 |
| PART V | CHAPTER – VI | 42 | Contributions to the press | 811 |
| PART V | CHAPTER – VI | 43 | Employee not to seek outside employment | 811 |
| PART V | CHAPTER – VI | 44 | Employment after retirement | 811 |
| PART V | CHAPTER – VI | 45 | Employment with a service provider | 812 |
| PART V | CHAPTER – VI | 46 | Giving evidence | 812 |
| PART V | CHAPTER – VI | 47 | Acceptance of gifts | 812 |
| PART V | CHAPTER – VI | 48 | Movable, immovable and valuable property | 813 |
| PART V | CHAPTER – VI | 49 | Conviction | 813 |
| PART V | CHAPTER – VI | 50 | Prohibition of sexual harassment of women employee at work place | 813 |
| PART V | CHAPTER – VI | 51 | Penalties | 814 |
| PART V | CHAPTER – VI | 52 | Procedure for imposing major penalties | 816 |
| PART V | CHAPTER – VI | 53 | Action on the inquiry report | 820 |
| PART V | CHAPTER – VI | 54 | Procedure for imposing minor penalties | 820 |
| PART V | CHAPTER – VI | 55 | Communication of orders | 820 |
| PART V | CHAPTER – VI | 56 | Common proceedings | 820 |
| PART V | CHAPTER – VI | 57 | Special procedure in certain cases | 821 |
| PART V | CHAPTER – VI | 58 | Suspension | 821 |
| PART V | CHAPTER – VI | 59 | Subsistence allowance | 822 |
| PART V | CHAPTER – VI | 60 | Vigilance cases | 822 |
| PART V | CHAPTER – VI | 61 | Appeal | 823 |
| PART V | CHAPTER – VII | 62 | Deputation of employees to other services | 824 |
| PART V | CHAPTER – VII | 63 | Redressal of grievances | 824 |
| PART V | CHAPTER – VII | SCHEDULE | I | 825 |
| PART V | CHAPTER – VII | SCHEDULE | II | 833 |
| PART V | CHAPTER I | 1 | Short title, commencement and application | 835 |
| PART V | CHAPTER I | 2 | Definitions | 835 |
| PART V | CHAPTER II | 3 | Filing of grievance and complaint | 836 |
| PART V | CHAPTER II | 4 | Identity of the stakeholder | 837 |
| PART V | CHAPTER II | 5 | Registration number | 837 |
| PART V | CHAPTER III | 6 | Disposal of grievance by the Board | 838 |
| PART V | CHAPTER III | 6A | Disposal of grievance by Insolvency Professional Agency | 838 |
| PART V | CHAPTER IV | 7 | Disposal of complaint | 838 |
| PART V | CHAPTER V | 8 | STATISTICS | 839 |
| PART V | CHAPTER V | FORM A | [Omitted] | 839 |
| PART V | CHAPTER V | REGULATIONS, | 2018 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 840 |
| PART V | CHAPTER I | 2 | Definitions | 840 |
| PART V | CHAPTER II | 3 | Making regulations | 841 |
| PART V | CHAPTER II | 4 | Public Consultation | 841 |
| PART V | CHAPTER II | 5 | Economic Analysis | 841 |
| PART V | CHAPTER III | 6 | Amendment of Regulations | 842 |
| PART V | CHAPTER III | 7 | Review of Regulations | 842 |
| PART V | CHAPTER IV | 8 | Urgent regulations | 842 |
| PART V | CHAPTER IV | 9 | Guidance on law | 842 |
| PART V | CHAPTER I | 1 | Short title and commencement | 843 |
| PART V | CHAPTER I | 2 | Application | 843 |
| PART V | CHAPTER I | 3 | Definitions | 843 |
| PART V | CHAPTER II | 4 | Eligibility of resolution professional | 844 |
| PART V | CHAPTER II | 5 | Preservation of records | 845 |
| PART V | CHAPTER II | 6 | Debt counselling | 845 |
| PART V | CHAPTER II | 6A | Statement of assets | 845 |
| PART V | CHAPTER III | 7 | Submission and verification of claim | 847 |
| PART V | CHAPTER III | 8 | Transfer of debt due to creditors | 848 |
| PART V | CHAPTER III | 9 | List of creditors | 848 |
| PART V | CHAPTER III | 10 | Statement of affairs | 848 |
| PART V | CHAPTER IV | 11 | Meeting of creditors | 849 |
| PART V | CHAPTER IV | 11A | Facilitation of transfer of assets | 849 |
| PART V | CHAPTER IV | 12 | Contents of the notice for a meeting | 850 |
| PART V | CHAPTER IV | 13 | Quorum | 851 |
| PART V | CHAPTER IV | 14 | Conduct of meeting | 851 |
| PART V | CHAPTER IV | 15 | Voting by creditors | 851 |
| PART V | CHAPTER IV | 16 | Voting by proxy | 852 |
| PART V | CHAPTER V | 17 | Contents of repayment plan | 852 |
| PART V | CHAPTER V | 17A | Meeting of the creditors | 853 |
| PART V | CHAPTER V | 17B | Non-submission of repayment plan | 854 |
| PART V | CHAPTER V | 18 | Purchase of assets by certain persons | 854 |
| PART V | CHAPTER V | 19 | Filing with the Adjudicating Authority | 854 |
| PART V | CHAPTER V | 20 | Breach of repayment plan by the guarantor | 854 |
| PART V | CHAPTER V | 21 | Application for discharge order | 855 |
| PART V | CHAPTER V | 22 | Non-cooperation by guarantor | 855 |
| PART V | CHAPTER V | 23 | Filing of Forms | 855 |
| PART V | CHAPTER V | FORM A— | [Omitted] | 856 |
| PART V | CHAPTER V | FORM B— | [Omitted] | 857 |
| PART V | CHAPTER V | FORM C— | [Omitted] | 860 |
| PART V | CHAPTER V | CORPORATE DEBTORS) REGULATIONS, | 2019 | |
| PART V | CHAPTER I | 1 | Short title, commencement and application | 862 |
| PART V | CHAPTER I | 2 | Definitions | 862 |
| PART V | CHAPTER II | 3 | Eligibility of bankruptcy trustee | 864 |
| PART V | CHAPTER II | 4 | Fees of bankruptcy trustee | 864 |
| PART V | CHAPTER II | 5 | Appointment of professionals | 865 |
| PART V | CHAPTER II | 6 | Registers and books | 865 |
| PART V | CHAPTER II | 7 | Reports by bankruptcy trustee | 865 |
| PART V | CHAPTER II | 8 | Preliminary report | 865 |
| PART V | CHAPTER II | 9 | Early completion of administration | 866 |
| PART V | CHAPTER II | 10 | Progress reports | 866 |
| PART V | CHAPTER II | 11 | Final report | 869 |
| PART V | CHAPTER II | 12 | Persons to extend cooperation | 869 |
| PART V | CHAPTER II | 13 | Preservation of records | 870 |
| PART V | CHAPTER III | 14 | Future claims | 870 |
| PART V | CHAPTER III | 15 | Negotiable instruments | 870 |
| PART V | CHAPTER III | 16 | Periodical payments | 870 |
| PART V | CHAPTER III | 17 | Determination of quantum of claim | 870 |
| PART V | CHAPTER III | 18 | Debt in foreign currency | 870 |
| PART V | CHAPTER III | 19 | Transfer of debt due to creditors | 870 |
| PART V | CHAPTER III | 20 | Committee of creditors | 871 |
| PART V | CHAPTER III | 20A | Facilitation of transfer of assets | 871 |
| PART V | CHAPTER IV | 21 | Notice for meeting | 872 |
| PART V | CHAPTER IV | 22 | Quorum | 873 |
| PART V | CHAPTER IV | 23 | Conduct of meeting | 873 |
| PART V | CHAPTER IV | 24 | Voting share | 873 |
| PART V | CHAPTER IV | 25 | Voting by the committee | 874 |
| PART V | CHAPTER IV | 26 | Voting by proxy | 874 |
| PART V | CHAPTER V | 27 | Mode of sale | 875 |
| PART V | CHAPTER V | 28 | Acquisition, etc., of after acquired property by bankrupt | 875 |
| PART V | CHAPTER V | 29 | Disclaimer of onerous property | 876 |
| PART V | CHAPTER V | 30 | Valuation of assets | 876 |
| PART V | CHAPTER V | 31 | Realisation of security interest | 877 |
| PART V | CHAPTER VI | 32 | Bank account for bankruptcy process | 877 |
| PART V | CHAPTER VI | 33 | Distribution of dividend to claimant of deceased creditor | 878 |
| PART V | CHAPTER VI | 34 | Distribution of dividend | 878 |
| PART V | CHAPTER VI | 35 | Return of amount | 878 |
| PART V | CHAPTER VI | 36 | Unclaimed proceeds of bankruptcy or undistributed assets | 878 |
| PART V | CHAPTER VI | 37 | Debt counselling | 879 |
| PART V | CHAPTER VI | FORM A— | [Omitted] | 879 |
| PART V | CHAPTER VI | FORM B— | [Omitted] | 880 |
| PART V | CHAPTER VI | SCHEDULE | I—FEES OF BANKRUPTCY TRUSTEE | 881 |
| PART V | CHAPTER VI | SCHEDULE | II—MODE OF SALE | 882 |
| PART V | CHAPTER VI | (REGISTERED VALUERS AND VALUATION) RULES, | 2017 | |
| PART V | CHAPTER I | 1 | Short title, commencement and application | 884 |
| PART V | CHAPTER I | 2 | Definitions | 884 |
| PART V | CHAPTER II | 3 | Eligibility for registered valuers | 885 |
| PART V | CHAPTER II | 4 | Qualifications and experience | 887 |
| PART V | CHAPTER II | 5 | Valuation Examination | 888 |
| PART V | CHAPTER II | 6 | Application for certificate of registration | 888 |
| PART V | CHAPTER II | 7 | Conditions of Registration | 889 |
| PART V | CHAPTER II | valuer to authority | 890 | |
| PART V | CHAPTER II | 8 | Conduct of Valuation | 890 |
| PART V | CHAPTER II | 9 | Temporary surrender | 891 |
| PART V | CHAPTER II | 10 | Functions of a Valuer | 891 |
| PART V | CHAPTER II | 11 | Transitional Arrangement | 891 |
| PART V | CHAPTER III | 12 | Eligibility for registered valuers’ organizations | 892 |
| PART V | CHAPTER III | 13 | Application for recognition | 893 |
| PART V | CHAPTER III | 14 | Conditions of Recognition | 894 |
| PART V | CHAPTER III | board, etc., by the registered valuers organisations to the authority | 895 | |
| PART V | CHAPTER IV | 15 | Cancellation or suspension of certificate of registration or recognition | 895 |
| PART V | CHAPTER IV | organisation | 895 | |
| PART V | CHAPTER IV | registration or recognition certificate | 895 | |
| PART V | CHAPTER V | 18 | Valuation Standards | 897 |
| PART V | CHAPTER V | 19 | Committee to advise on valuation matters | 897 |
| PART V | CHAPTER VI | 20 | Punishment for contravention | 898 |
| PART V | CHAPTER VI | 21 | Punishment for false statement | 898 |
| PART V | CHAPTER VI | VALUERS | 898 | |
| PART V | CHAPTER VI | ANNEXURE-II— | 901 | |
| PART V | CHAPTER VI | FORM-A—APPLICATION FOR REGISTRATION AS A VALUER BY AN INDIVIDUAL | 901 | |
| PART V | CHAPTER VI | FORM-B—APPLICATION FOR REGISTRATION AS A VALUER BY A PARTNERSHIP ENTITY/COMPANY | 905 | |
| PART V | CHAPTER VI | FORM-C—CERTIFICATE OF REGISTRATION | 909 | |
| PART V | CHAPTER VI | FORM-D—APPLICATION FOR RECOGNITION | 909 | |
| PART V | CHAPTER VI | FORM E—CERTIFICATE | OF RECOGNITION REGISTERED VALUERS’ ORGANISATION RECOGNITION NO. | 912 |
| PART V | CHAPTER VI | ANNEXURE – III | 912 | |
| PART V | CHAPTER VI | FOR REGISTRATION AS VALUER | 922 | |
| PART V | CHAPTER VI | ANNEXURE-V | 923 | |
| PART V | CHAPTER I | 1 | Short title and commencement | 924 |
| PART V | CHAPTER I | 2 | Definitions | 924 |
| PART V | CHAPTER II | 3 | Meetings and communication | 926 |
| PART V | CHAPTER II | 4 | Essential supplies | 926 |
| PART V | CHAPTER II | 5 | Extortionate credit transaction | 926 |
| PART V | CHAPTER II | 6 | Pre-packaged insolvency resolution process costs | 926 |
| PART V | CHAPTER III | 7 | Eligibility for resolution professional | 927 |
| PART V | CHAPTER III | 8 | Fee of resolution professional | 927 |
| PART V | CHAPTER III | 9 | Access to books | 928 |
| PART V | CHAPTER III | 10 | Appointment of professionals | 928 |
| PART V | CHAPTER III | 11 | Disclosure of costs | 928 |
| PART V | CHAPTER III | 12 | Preservation of records | 928 |
| PART V | CHAPTER IV | 13 | Filing of reports and forms | 929 |
| PART V | CHAPTER IV | 14 | Approvals by financial creditors | 929 |
| PART V | CHAPTER IV | 15 | Choice of authorised representative | 930 |
| PART V | CHAPTER IV | 16 | Declarations | 931 |
| PART V | CHAPTER IV | 17 | Report by resolution professional | 931 |
| PART V | CHAPTER IV | 18 | Information and documents to be furnished by the applicant | 931 |
| PART V | CHAPTER V | 19 | Public announcement | 932 |
| PART V | CHAPTER V | 20 | List of claims | 932 |
| PART V | CHAPTER V | 21 | Determination of amount of claim | 933 |
| PART V | CHAPTER V | 22 | Debt in foreign currency | 933 |
| PART V | CHAPTER V | 23 | Transfer of debt due to creditors | 933 |
| PART V | CHAPTER VI | 24 | Committee with only creditors in a class | 934 |
| PART V | CHAPTER VI | 25 | Committee with only operational creditors | 934 |
| PART V | CHAPTER VI | 26 | Change in committee | 934 |
| PART V | CHAPTER VII | 27 | Meetings of the committee | 935 |
| PART V | CHAPTER VII | 28 | Notice for meetings of the committee | 935 |
| PART V | CHAPTER VII | 29 | Service of notice | 935 |
| PART V | CHAPTER VII | 30 | Contents of the notice for meeting | 936 |
| PART V | CHAPTER VII | 31 | Quorum | 936 |
| PART V | CHAPTER VII | 32 | Participation through video conferencing | 937 |
| PART V | CHAPTER VII | 33 | Conduct of meeting | 937 |
| PART V | CHAPTER VII | 34 | Committee with creditors in a class | 938 |
| PART V | CHAPTER VII | 35 | Voting by the committee | 939 |
| PART V | CHAPTER VII | 36 | Voting by authorised representative | 939 |
| PART V | CHAPTER VII | 37 | Voting through electronic means | 940 |
| PART V | CHAPTER VIII | 38 | Appointment of registered valuers | 940 |
| PART V | CHAPTER VIII | 39 | Fair value and liquidation value | 941 |
| PART V | CHAPTER VIII | 40 | Information memorandum | 943 |
| PART V | CHAPTER IX | 41 | Preferential and other transactions | 944 |
| PART V | CHAPTER IX | 42 | Scoring and improvement of resolution plans | 944 |
| PART V | CHAPTER IX | 43 | Invitation for resolution plans | 946 |
| PART V | CHAPTER IX | 44 | Resolution plan | 947 |
| PART V | CHAPTER IX | 45 | Mandatory contents of resolution plan | 947 |
| PART V | CHAPTER IX | 46 | Submission of resolution plans | 948 |
| PART V | CHAPTER IX | 47 | Evaluation of resolution plans | 949 |
| PART V | CHAPTER IX | 48 | Approval of resolution plan | 949 |
| PART V | CHAPTER IX | 49 | Application to Adjudicating Authority | 949 |
| PART V | CHAPTER X | 50 | Management during the process | 950 |
| PART V | CHAPTER X | 51 | Vesting of the management with resolution professional | 951 |
Additional information
| Publisher | Commercial |
|---|
Reviews
There are no reviews yet.