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The Insolvency and Bankruptcy Code, 2016.
An Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto.
दिवाला और शोधन अक्षमता संहिता,2016
Act Details
31
2016
5/28/2016
Ministry of Corporate Affairs
Full List of IBC Sections
PRELIMINARY
CHAPTER I PRELIMINARY
CHAPTER II CORPORATE INSOLVENCY RESOLUTION PROCESS
Section 14
Moratorium.Section 21
Committee of creditors.Section 22
Appointment of resolution professional.Section 24
Meeting of committee of creditors.Section 25
Duties of resolution professional.Section 29
Preparation of information memorandum.Section 30
Submission of resolution plan.Section 31
Approval of resolution plan.Section 32
Appeal.Section 32A
Liability for prior offences, etc.CHAPTER III LIQUIDATION PROCESS
Section 33
Initiation of liquidation.Section 35
Powers and duties of liquidator.Section 36
Liquidation estate.Section 38
Consolidation of claims.Section 39
Verification of claims.Section 40
Admission or rejection of claims.Section 41
Determination of valuation of claims.Section 45
Avoidance of undervalued transactions.Section 49
Transactions defrauding creditors.Section 50
Extortionate credit transactions.Section 53
Distribution of assets.Section 54
Dissolution of corporate debtor.CHAPTER III-A PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS
Section 54H
Management of affairs of corporate debtor.Section 54I
Committee of creditors.Section 54L
Approval of resolution plan.Section 54M
Appeal against order under section 54L.CHAPTER IV FAST TRACK CORPORATE INSOLVENCY RESOLUTION PROCESS
CHAPTER V VOLUNTARY LIQUIDATION OF CORPORATE PERSONS
CHAPTER VII OFFENCES AND PENALTIES
Section 68
Punishment for concealment of property.CHAPTER VI ADJUDICATING AUTHORITY FOR CORPORATE PERSONS
Section 61
Appeals and Appellate Authority.Section 62
Appeal to Supreme Court.Section 63
Civil court not to have jurisdiction.Section 64
Expeditious disposal of applications.Section 66
Fraudulent trading or wrongful trading.Section 67
Proceedings under section 66.CHAPTER I PRELIMINARY
CHAPTER II FRESH START PROCESS
Section 80
Eligibility for making an application.Section 81
Application for fresh start order.Section 82
Appointment of resolution professional.Section 85
Effect of admission of application.Section 88
General duties of debtor.Section 89
Replacement of resolution professional.Section 92
Discharge order.Section 93
Standard of conduct.CHAPTER III INSOLVENCY RESOLUTION PROCESS
Section 96
Interim moratorium.Section 97
Appointment of resolution professional.Section 98
Replacement of resolution professional.Section 100
Admission or rejection of application.Section 101
Moratorium.Section 102
Public notice and claims from creditors.Section 103
Registering of claims by creditors.Section 104
Preparation of list of creditors.Section 105
Repayment plan.Section 107
Summoning of meeting of creditors.Section 108
Conduct of meeting of creditors.Section 109
Voting rights in meeting of creditors.Section 111
Approval of repayment plan by creditors.Section 117
Completion of repayment plan.Section 118
Repayment plan coming to end prematurely.Section 119
Discharge order.Section 120
Standard of conduct.CHAPTER IV BANKRUPTCY ORDER FOR INDIVIDUALS AND PARTNERSHIP FIRMS
Section 121
Application for bankruptcy.Section 122
Application by debtor.Section 123
Application by creditor.Section 124
Effect of application.Section 126
Bankruptcy order.Section 127
Validity of bankruptcy order.Section 128
Effect of bankruptcy order.Section 129
Statement of financial position.Section 131
Registration of claims.Section 132
Preparation of list of creditors.Section 133
Summoning of meeting of creditors.Section 134
Conduct of meeting of creditors.Section 135
Voting rights of creditors.Section 137
Completion of administration.Section 138
Discharge order.Section 139
Effect of discharge.Section 140
Disqualification of bankrupt.Section 141
Restrictions on bankrupt.Section 142
Modification or recall of bankruptcy order.Section 143
Standard of conduct.Section 144
Fees of bankruptcy trustee.Section 145
Replacement of bankruptcy trustee.Section 146
Resignation by bankruptcy trustee.Section 147
Vacancy in office of bankruptcy trustee.Section 148
Release of bankruptcy trustee.CHAPTER V ADMINISTRATION AND DISTRIBUTION OF THE ESTATE OF THE BANKRUPT
Section 149
Functions of bankruptcy trustee.Section 151
Rights of bankruptcy trustee.Section 152
General powers of bankruptcy trustee.Section 153
Approval of creditors for certain acts.Section 155
Estate of bankrupt.Section 158
Restrictions on disposition of property.Section 159
After-acquired property of bankrupt.Section 160
Onerous property of bankrupt.Section 161
Notice to disclaim onerous property.Section 162
Disclaimer of leaseholds.Section 163
Challenge against disclaimed property.Section 164
Undervalued transactions.Section 165
Preference transactions.Section 166
Effect of order.Section 167
Extortionate credit transactions.Section 168
Obligations under contracts.Section 171
Proof of debt.Section 172
Proof of debt by secured creditors.Section 173
Mutual credit and set-off.Section 174
Distribution of interim dividend.Section 175
Distribution of property.Section 176
Final dividend.Section 177
Claims of creditors.Section 178
Priority of payment of debts.CHAPTER VI ADJUDICATING AUTHORITY FOR INDIVIDUALS AND PARTNERSHIP FIRMS
Section 180
Civil court not to have jurisdiction.Section 181
Appeal to Debt Recovery Appellate Tribunal.Section 182
Appeal to Supreme Court.Section 183
Expeditious disposal of applications.CHAPTER VII OFFENCES AND PENALTIES
Section 185
Punishment for contravention of provisions.Section 187
Punishment for certain actions.CHAPTER I THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
Section 188
Establishment and incorporation of Board.Section 189
Constitution of Board.Section 190
Removal of member from office.Section 191
Powers of Chairperson.Section 192
Meetings of Board.CHAPTER II POWERS AND FUNCTIONS OF THE BOARD
CHAPTER III INSOLVENCY PROFESSIONAL AGENCIES
CHAPTER IV INSOLVENCY PROFESSIONALS
Section 207
Registration of insolvency professionals.CHAPTER V INFORMATION UTILITIES
Section 210
Registration of information utility.Section 212
Governing Board of information utility.Section 214
Obligations of information utility.CHAPTER VI INSPECTION AND INVESTIGATION
CHAPTER VII FINANCE, ACCOUNTS AND AUDIT
Section 221
Grants by Central Government.Section 222
Board?s Fund.Section 223
Accounts and audit.MISCELLANEOUS
Section 224
Insolvency and Bankruptcy Fund.Section 228
Budget.Section 229
Annual report.Section 230
Delegation.Section 231
Bar of jurisdiction.Section 233
Protection of action taken in good faith.Section 234
Agreements with foreign countries.Section 236
Trial of offences by Special Court.Section 237
Appeal and revision.Section 238A
Limitation.Section 239
Power to make rules.Section 240
Power to make regulations.Section 242
Power to remove difficulties.Section 243
Repeal of certain enactments and savings.Section 244
Transitional provisions.Section 245
Amendments of Act 9 of 1932.Section 246
Amendments of Act 1 of 1944.Section 247
Amendments of Act 43 of 1961.Section 248
Amendments of Act 52 of 1962.Section 249
Amendments of Act 51 of 1993.Section 250
Amendments of Act 32 of 1994.Section 251
Amendments of Act 54 of 2002.Section 252
Amendments of Act 1 of 2004.Section 253
Amendments of Act 51 of 2007.Section 254
Amendments of Act 6 of 2009.Section 255
Amendments of Act 18 of 2013.