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Home Acts & Rules Insolvency and Bankruptcy Act Insolvency and Bankruptcy Code, 2016 Chapters List Chapter III-A (of Part II) PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS This
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Section 54C - Application to initiate prepackaged insolvency resolution process - Insolvency and Bankruptcy Code, 2016

Extract

..... 1[Application to initiate prepackaged insolvency resolution process. 54C. (1) Where a corporate debtor meets the requirements of section 54A, a corporate applicant thereof may file an application with the Adjudicating Authority for initiating pre-packaged insolvency resolution process. (2) The application under sub-section (1) shall be filed in such form, containing such particulars, in such manner and accompanied with such fee as may be prescribed. (3) The corporate applicant shall, along with .....

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Section 54C - Application to initiate prepackaged insolvency resolution process - Insolvency and Bankruptcy Code, 2016

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..... s of the receipt of the application, by an order,- (a) admit the application, if it is complete; or (b) reject the application, if it is incomplete: Provided that the Adjudicating Authority shall, before rejecting an application, give notice to the applicant to rectify the defect in the application within seven days from the date of receipt of such notice from the Adjudicating Authority. (5) The pre-packaged insolvency resolution process shall commence from the date of admission of the applicati .....

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Section 54C - Application to initiate prepackaged insolvency resolution process - Insolvency and Bankruptcy Code, 2016

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