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Insolvency and Bankruptcy

Home Acts & Rules Insolvency and Bankruptcy Act Insolvency and Bankruptcy Code, 2016 Chapter II (of Part II) = CORPORATE INSOLVENCY RESOLUTION PROCESS Chapters List This

CORPORATE INSOLVENCY RESOLUTION PROCESS - Insolvency and Bankruptcy Code, 2016

Chapter: II (of Part 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 10A	:	Suspension of initiation of corporate insolvency resolution process
Section 11	:	Persons not entitled to make application.
Section 11A	:	Disposal of applications under section 54C and under section 7 or section 9 or section 10
Section 12	:	Time-limit for completion of insolvency resolution process.
Section 12A	:	Withdrawal of application admitted under section 7, 9 or 10
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 cooperation 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 25A	:	Rights and duties of authorised representative of financial creditors
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 29A	:	Persons not eligible to be resolution applicant
Section 30	:	Submission of resolution plan.
Section 31	:	Approval of resolution plan.
Section 32	:	Appeal.
Section 32A	:	Liability for prior offences etc.

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