Insolvency & Bankruptcy Code

This is a law which is said to be a game changer. If you go by the upheaval in the commercial arena , it seems to be so. It is a treat to watch debtors chasing creditors instead of the other way round–which has been the practice so far and the creditors [ banks ] were at the mercy of the debtors [ read borrowers ]

Particularly happy must be those suppliers of goods and services [ including the workers, employees ] who have a weapon to beat the erring debtors. As per the latest statistics released by Insolvency & Bankruptcy Board of India [ IBBI ] nearly 50% of cases were referred by operational creditors.  This also shows that operational creditors were in need of such a law which not only gives speedier decision but which is comparatively less costly. 

Code updated upto 06.06.2018

Section 06 to Section 32

Section 33 to Section 54

Section 55 to Section 58

Section 59

Section 60 to Section 67

Section 68 to Section 77

Regulations

Corporate Insolvency Resolution Process–Regulation 01 to 40 A

Liquidation Regulations 01 to 46

IP Regulations