Taxmann's Insolvency and Bankruptcy Law Manual with IBC Law Guide by Taxmann

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Contents PAGE u List of Rules/Regulations

I-9

u List of Notifications

I-11

u List of Circulars

I-13

u List of Guidelines

I-19

u Amendments made by Insolvency and Bankruptcy Code (Amend-

I-21

ment) Act, 2021 at a glance u Amendments made by Insolvency and Bankruptcy Code (Amend-

ment) Act, 2020 and Insolvency and Bankruptcy Code (Second Amendment) Act, 2020 at a glance

I-23

u Amendments made by Insolvency and Bankruptcy Code (Amend-

I-25

ment) Act, 2019 at a glance u Insolvency and Bankruptcy Law Guide

I-31

u A table showing enforcement of provisions of Insolvency and

I-133

Bankruptcy Code, 2016

DIVISION ONE INSOLVENCY AND BANKRUPTCY CODE, 2016 u Arrangement of Sections

1.3

u Text of Insolvency and Bankruptcy Code, 2016 as amended by

Insolvency and Bankruptcy Code (Amendment) Act, 2021

1.15

u Appendix : Provisions of other Acts referred to in Insolvency and

1.189

Bankruptcy Code u Insolvency and Bankruptcy Code (Amendment) Act, 2021

1.223

u Insolvency and Bankruptcy Code (Second Amendment) Act, 2020

1.243

u Insolvency and Bankruptcy Code (Amendment) Act, 2020

1.245

u Insolvency and Bankruptcy Code (Amendment) Act, 2019

1.251

u Subject Index

1.255

I-5

CONTENTS

I-6 PAGE

DIVISION TWO RULES AND REGULATIONS u Insolvency and Bankruptcy Board of India (Model Bye-Laws and

Governing Board of Insolvency Professional Agencies) Regulations, 2016

2.3

u Insolvency and Bankruptcy Board of India (Insolvency Professional

Agencies) Regulations, 2016

2.25

u Insolvency and Bankruptcy Board of India (Insolvency Profession-

als) Regulations, 2016

2.37

u Insolvency and Bankruptcy (Application to Adjudicating Autho-

rity) Rules, 2016

2.86

u Insolvency and Bankruptcy Board of India (Insolvency Resolution

Process for Corporate Persons) Regulations, 2016

2.105

u Insolvency and Bankruptcy Board of India (Liquidation Process)

Regulations, 2016

2.196

u Insolvency and Bankruptcy Board of India (Voluntary Liquida-

tion Process) Regulations, 2017

2.267

u Insolvency and Bankruptcy Board of India (Information Utilities)

Regulations, 2017

2.315

u Insolvency and Bankruptcy Board of India (Advisory Committee)

Regulations, 2017

2.349

u Insolvency and Bankruptcy Board of India (Procedure for

Governing Board Meetings) Regulations, 2017

2.352

u Insolvency and Bankruptcy Board of India (Engagement of

Research Associates and Consultants) Regulations, 2017

2.361

u Insolvency and Bankruptcy Board of India (Salary, Allowances and

Other Terms and Conditions of Service of Chairperson and Members) Rules, 2016

2.367

u Insolvency and Bankruptcy Board of India (Fast Track Insolvency

Resolution Process for Corporate Persons) Regulations, 2017

2.373

u Insolvency and Bankruptcy Board of India (Inspection and Investi-

gation) Regulations, 2017

2.412

u Insolvency and Bankruptcy Board of India (Employees’ Service)

Regulations, 2017

2.424

u Insolvency and Bankruptcy Board of India (Grievance and

Complaint Handling Procedure) Regulations, 2017

2.463

u Insolvency and Bankruptcy Board of India (Annual Report)

Rules, 2018

2.470

u Insolvency and Bankruptcy Board of India (Form of Annual

Statement of Accounts) Rules, 2018

2.473

u Insolvency and Bankruptcy Board of India (Mechanism for

Issuing Regulations) Regulations, 2018

2.492

I-7

CONTENTS PAGE

u Companies (Registered Valuers and Valuation) Rules, 2017

2.495

u Insolvency and Bankruptcy Board of India (Medical Facility to

Chairperson and Whole-time Members) Scheme Rules, 2019

2.517

u Insolvency and Bankruptcy (Application to Adjudicating Authority

for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019

2.519

u Insolvency and Bankruptcy (Insolvency and Liquidation Proceed-

ings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019

2.538

u Insolvency and Bankruptcy (Application to Adjudicating Authority

for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019

2.546

u Insolvency and Bankruptcy Board of India (Bankruptcy Process for

Personal Guarantors to Corporate Debtors) Regulations, 2019

2.571

u Insolvency and Bankruptcy Board of India (Insolvency Resolution

Process for Personal Guarantors to Corporate Debtors) Regulations, 2019

2.592

u Insolvency and Bankruptcy (Pre-packaged Insolvency Resolution

2.607

Process) Rules, 2021 u Insolvency and Bankruptcy Board of India (Pre-packaged Insol-

vency Resolution Process) Regulations, 2021

2.614

DIVISION THREE GUIDELINES ISSUED UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016 u Guidelines for Technical Standards for the Performance of Core

Services and Other Services under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017 u Guidelines for empanelment of advocates

3.3 3.36

u Insolvency and Bankruptcy Board of India (Online Delivery of

Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020

3.46

u Insolvency and Bankruptcy Board of India (Use of Caveats, Limi-

tations and Disclaimers by the Registered Valuers in Valuation Reports) Guidelines, 2020

3.50

u Insolvency and Bankruptcy Board of India (Continuing Profes-

sional Education for Insolvency Professionals) Guidelines, 2019

3.69

u Guidelines for Appointment of Insolvency Professionals as Admi-

nistrators under the Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018

3.75

CONTENTS

I-8 PAGE

u Insolvency Professionals to Act as Interim Resolution Profession-

als, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2023

3.82

DIVISION FOUR NOTIFICATIONS ISSUED UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016 u Notifications issued under Insolvency and Bankruptcy Code, 2016

4.3

DIVISION FIVE CIRCULARS ISSUED UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016 u Circulars issued under Insolvency and Bankruptcy Code, 2016

5.3

DIVISION SIX RBI (PRUDENTIAL FRAMEWORK FOR RESOLUTION OF STRESSED ASSETS) DIRECTIONS, 2019 u Reserve Bank of India (Prudential Framework for Resolution of

Stressed Assets) Directions, 2019

6.3

LIST OF RULES/REGULATIONS

PAGE u Companies (Registered Valuers and Valuation) Rules, 2017

2.495

u Insolvency and Bankruptcy (Application to Adjudicating Author-

ity for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019

2.519

u Insolvency and Bankruptcy (Application to Adjudicating Autho-

rity for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019

2.546

u Insolvency and Bankruptcy (Application to Adjudicating Autho-

2.86

rity) Rules, 2016 u Insolvency and Bankruptcy (Insolvency and Liquidation Proceed-

ings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019

2.538

u Insolvency and Bankruptcy (Pre-packaged Insolvency Resolu-

2.607

tion Process) Rules, 2021 u Insolvency and Bankruptcy Board of India (Advisory Committee)

2.349

Regulations, 2017 u Insolvency and Bankruptcy Board of India (Annual Report) Rules,

2.470

2018 u Insolvency and Bankruptcy Board of India (Bankruptcy Process

for Personal Guarantors to Corporate Debtors) Regulations, 2019

2.571

u Insolvency and Bankruptcy Board of India (Employees’ Service)

2.424

Regulations, 2017 u Insolvency

and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017

2.361

u Insolvency and Bankruptcy Board of India (Fast Track Insolvency

Resolution Process for Corporate Persons) Regulations, 2017

2.373

u Insolvency and Bankruptcy Board of India (Form of Annual

Statement of Accounts) Rules, 2018 and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017

2.473

u Insolvency

I-9

2.463

LIST OF RULES/REGULATIONS

I-10 PAGE

u Insolvency and Bankruptcy Board of India (Information Utilities)

Regulations, 2017

2.315

u Insolvency and Bankruptcy Board of India (Insolvency Profes-

sional Agencies) Regulations, 2016

2.25

u Insolvency and Bankruptcy Board of India (Insolvency Profes-

sionals) Regulations, 2016

2.37

u Insolvency and Bankruptcy Board of India (Insolvency Resolution

Process for Corporate Persons) Regulations, 2016

2.105

u Insolvency and Bankruptcy Board of India (Insolvency Resolution

Process for Personal Guarantors to Corporate Debtors) Regulations, 2019

2.592

u Insolvency and Bankruptcy Board of India (Inspection and Inves-

tigation) Regulations, 2017

2.412

u Insolvency and Bankruptcy Board of India (Liquidation Process)

Regulations, 2016 and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018

2.196

u Insolvency

2.492

u Insolvency and Bankruptcy Board of India (Medical Facility to

Chairperson and Whole-time Members) Scheme Rules, 2019

2.517

u Insolvency and Bankruptcy Board of India (Model Bye-Laws and

Governing Board of Insolvency Professional Agencies) Regulations, 2016

2.3

u Insolvency and Bankruptcy Board of India (Pre-packaged Insol-

vency Resolution Process) Regulations, 2021 and Bankruptcy Board of India (Procedure for Governing Board Meetings) Regulations, 2017

2.614

u Insolvency

2.352

u Insolvency and Bankruptcy Board of India (Salary, Allowances

and Other Terms and Conditions of Service of Chairperson and Members) Rules, 2016

2.367

u Insolvency and Bankruptcy Board of India (Voluntary Liquida-

tion Process) Regulations, 2017

2.267

LIST OF NOTIFICATIONS

PAGE u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 2618(E), dated 5-8-2016

4.3

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 2746(E), dated 19-8-2016

4.3

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 3110(E), dated 1-10-2016

4.4

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 3355(E), dated 1-11-2016

4.4

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 3453(E), dated 15-11-2016

4.5

u Designated NCLT Benches - Notification No. S.O. 3591(E),

dated 30-11-2016

4.5

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 3594(E), dated 30-11-2016

4.5

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 3687(E), dated 9-12-2016

4.6

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 1005(E), dated 30-3-2017

4.6

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 1570(E), dated 15-5-2017

4.6

u Insolvency and Bankruptcy Code (Removal of Difficulties)

Order, 2017 - Notification No. S.O. 1683(E), dated 24-5-2017

4.7

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 1910(E), dated 14-6-2017

4.8

u Making of Application for fast track corporate insolvency

resolution process in case of Notified Corporate Debtors Notification No. S.O. 1911(E), dated 14-6-2017

4.8

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 1817(E), dated 1-5-2018

4.9

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 1091(E), dated 27-2-2019 I-11

4.9

LIST OF NOTIFICATIONS

I-12 PAGE

u Enforcement of Provisions of Insolvency and Bankruptcy

Code (Amendment) Act, 2019 - Notification No. S.O. 2953(E), dated 16-8-2019

4.10

u Enforcement of Provisions of Insolvency and Bankruptcy

Code, 2016 - Notification No. S.O. 4126(E), dated 15-11-2019

4.10

u Notified Category of Financial Service Provider u/s 227 -

Notification No. S.O. 4139(E), dated 18-11-2019

4.10

u Notified manner of dealing with the Third Party Assets in

custody or possession of Financial Service Providers u/s 227 - Notification No. S.O. 464(E), dated 30-1-2020

4.11

u Notified Debt raised from the Special Window for Afforda-

ble and Middle-Income Housing Investment Fund I, for the purposes of section 5(15) - Notification No. S.O. 1145(E), dated 18-3-2020

4.12

u Notified Time Limit u/s 4, Proviso - Notification No. S.O. 1205(E),

dated 24-3-2020

4.13

u Notified Period u/s 10A - Notification No. S.O. 3265(E), dated

24-9-2020

4.13

u Notified NCLT Benches - Order : File No. 10/03/2020-NCLT,

dated 25-11-2020

4.13

u Notified Time Limit u/s 10A - Notification No. S.O. 4638(E),

dated 22-12-2020

4.16

u Notification u/s 4, Second Proviso - Notification No. S.O. 1543(E),

dated 9-4-2021

4.16

u Notification u/s 10(46) of the Income-tax Act, 1961 - Notification

No. S.O. 947(E), dated 1-3-2023

4.16

u Notification u/s 14(3)(a) - Non-application of section 14(1) - Notifi-

cation No. S.O. 2660(E), dated 14-6-2023

4.17

u Notification u/s 14(3)(a) - Non-application of section 14(1) - Notifi-

cation No. S.O. 4321(E), dated 3-10-2023

4.17

LIST OF CIRCULARS

PAGE u Clarification on approval of Resolution Plans - General

Circular No. IBC/01/2017, dated 25-10-2017

5.3

u Submission of financial information to Information Utilities -

DBR.No.LEG.BC.98/09.08.019/2017-18, dated 19-12-2017

5.4

u Designated website for publishing Forms under the Regula-

tions - Circular No. IP(CIRP)/006/2018, dated 23-2-2018

5.5

u Process to be followed for Registration as Registered Valuer

with the Authority under the Companies (Registered Valuers and Valuation) Rules, 2017 - Press Release, dated 4-4-2018

5.7

u Compliance with the Insolvency and Bankruptcy Board of

India (Insolvency Professionals) (Amendment) Regulations, 2018 - Circular No. IPE/008/2018, dated 5-4-2018

5.9

u Fee and other expenses incurred for Corporate Insolvency

Resolution Process - Circular No. IBBI/IP/013/2018, dated 12-6-2018

5.10

u Discharge from responsibility as Interim Resolution Profes-

sional, Resolution Professional or Liquidator of the Corporate Processes under the Code - Press Release, dated 21-6-2018

5.34

u In aid of Insolvency Professionals conducting Corporate Insol-

vency Resolution Process - Facilitation/001/2018, dated 29-6-2018

5.37

u Empanelment of Insolvency Professional Entities - Circular No.

IBBI/IPE/014/2018, dated 6-7-2018

5.41

u Compliance of regulation 13(2) of the Insolvency and Bank-

ruptcy Board of India (Insolvency Professionals) Regulations, 2016 - Circular No. IBBI/IPE/017/2018, dated 31-8-2018

5.41

u Valuation under the Code - Circular No. IBBI/RV/019/2018,

dated 17-10-2018

5.44

u Valuation under the Code - Circular No. IBBI/RV/022/2019,

dated 13-8-2019

5.46

I-13

LIST OF CIRCULARS

I-14 PAGE

u Valuation under the Code - Circular No. IBBI/RVO/026/2019,

dated 16-9-2019

5.46

u In Aid of Insolvency Professionals and Committee of Creditors

involved in the Corporate Insolvency Resolution Process Circular No. Facilitation/002/2019, dated 1-3-2019

5.48

u Compliance with regulations 7(2)(ca) and 13(2)(ca) of the Insol-

vency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 - Circular No. IBBI/IP/020/2019, dated 12-4-2019

5.56

u Filing of forms for the purpose of monitoring corporate insol-

vency resolution processes and performance of insolvency professionals under the Code and the regulations made thereunder - Circular No. IBBI/CIRP/023/2019, dated 14-8-2019

5.58

u Filing of forms for the purpose of monitoring corporate insol-

vency resolution processes and performance of insolvency professionals under the Code and the regulations made thereunder - Circular F.No. CIRP-11012/1/2019, dated 30-9-2019

5.117

u Compliance with the provisions of section 12 of the Insolvency

and Bankruptcy Code, 2016 - Circular No. CIRP-13011/1/2019IBBI, dated 11-11-2019

5.117

u Deposit of unclaimed dividends and/or undistributed proceeds

of liquidation process in accordance with regulation 46 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 - Circular No. IBBI/LIQ/027/2020, dated 9-1-2020

5.121

u Deposit of unclaimed dividends and/or undistributed proceeds

of Voluntary liquidation process in accordance with regulation 39 of the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 - Circular No. IBBI/VL/ 028/2020, dated 20-1-2020

5.122

u Transfer of Membership from one RVO to another - Circular

No. IBBI/RVO/029/2020, dated 28-1-2020

5.123

u Filing of forms in Registry (MCA-21) by Insolvency Profes-

sional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency and Bankruptcy Code, 2016 - Supersession of Circular No. 04/2020, dated 17-2-2020 - General Circular No. 8/2020, dated 6-3-2020

5.128

I-15

LIST OF CIRCULARS PAGE

u Feature for modification of CIRP Forms (including IP-1

Form) submitted by an Insolvency Professional (IP) in compliance of Regulation 40B of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 - Circular No. IBBI/CIRP/030/2020, dated 17-3-2020

5.129

u Governance Structure of the Registered Valuers Organisa-

tion - Circular No. IBBI/RVO/033/2020, dated 23-4-2020

5.129

u Role of resolution professional/Liquidator in respect of avoi-

dance transactions - Circular No. Facilitation/001/2020, dated 8-5-2020

5.130

u Insolvency and Bankruptcy Board of India Research Initiative,

2019 - Press Release, dated 1-8-2020

5.133

u In Aid of Insolvency Professionals conducting Liquidation

Process - Circular No. Facilitation/002/2020, dated 5-8-2020

5.139

u Role of the Government and its agencies in the Corporate

Insolvency Resolution and Liquidation Processes - Circular No. Facilitation/004/2020, dated 12-9-2020

5.168

u Meetings of the Disciplinary Committee and Appellate Panel

of the RVOs - Circular No. IBBI/RVO/34/2020, dated 9-10-2020

5.176

u Mistakes committed by insolvency professionals in conduct of

corporate insolvency resolution process - Facilitation/005/2020, dated 13-11-2020

5.178

u Filing of list of creditors under clause (ca) of sub-regulation (2)

of regulation 13 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 - Circular No. IBBI/CIRP/ 36/2020, dated 27-11-2020

5.184

u Filing of list of creditors under clause (ca) of sub-regulation (2)

of regulation 13 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 - Clarification No. IBBI/ CIRP/47/2021, dated 24-11-2021

5.196

u Computation of fee payable for delay in filings under regulation

40B of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 - Clarification No. IBBI/CIRP FORMS/2020, dated 4-12-2020

5.207

u Providing copy of application to the Board, as mandated under

Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 - Circular No. IBBI/II/39/2021, dated 2-2-2021

5.207

LIST OF CIRCULARS

I-16 PAGE

u Filing of list of stakeholders under clause (d) of sub-regula-

tion (5) of regulation 31 of the IBBI (Liquidation Process) Regulations, 2016 - Circular No. IBBI/LIQ/40/2021, dated 4-3-2021

5.213

u Filing of list of stakeholders under clause (d) of sub-regu-

lation (5) of regulation 31 of the IBBI (Liquidation Process) Regulations, 2016 - Clarification No. IBBI/LIQ/46/2021, dated 24-11-2021

5.222

u Reporting of status of ongoing corporate insolvency resolution

processes (CIRPs) through Form CIRP 7 - Circular No. IBBI/ CIRP/41/2021, dated 18-3-2021

5.231

u Filing of Form CIRP 8 under the IBBI (Insolvency Resolution

Process for Corporate Persons) Regulations, 2016 - Circular No. IBBI/CIRP/42/2021, dated 20-7-2021

5.235

u IBBI’s Electronic Platform for hosting Public Notices of

Auctions of Liquidation Assets under the IBBI (Liquidation Process) Regulations, 2016 - Circular No. IBBI/LIQ/44/2021, dated 30-9-2021

5.238

u Clarification regarding requirement of seeking No Objection

Certificate or No Dues Certificate from the Income Tax Department during Voluntary Liquidation process under the Insolvency and Bankruptcy Code, 2016 - Circular No. IBBI/LIQ/45/2021, dated 15-11-2021

5.238

u Clarifications with respect to Temporary Surrender of

Professional Membership - Clarification No. IBBI/IP/2022, dated 11-4-2022 of Circular dated 26-8-2019 regarding applicability of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 notified on 25-7-2019 - Circular No. IBBI/LIQ/2/2022, dated 6-5-2022

5.239

u Withdrawal

5.240

u Standard Operating Procedure (SOP) for NCLT cases in

respect of the Insolvency and Bankruptcy Code (IBC) Instruction No. 1083/04/2022-CX9, dated 23-5-2022

5.240

u Application under rule 4, 6 or 7 of Insolvency and Bankruptcy

(Application to Adjudication Authority) Rules, 2016 - Circular No. IBBI/IU/51/2022, dated 15-6-2022

5.244

u Annual Compliance Certificate for Insolvency Professional

Agencies - Circular No. IBBI/IPA/54/2022, dated 2-11-2022

5.244

u Review of Regulations - Circular No. IBBI/IP/55/2022, dated

9-11-2022

5.275

I-17

LIST OF CIRCULARS PAGE

u Payment of fees to the Insolvency and Bankruptcy Board of

India (the IBBI/Board) - Circular No. IBBI/IP/56/2022, dated 24-11-2022

5.279

u Proforma for reporting liquidator’s decision(s) different from

the advice of Stakeholders’ Consultation Committee (SCC) under proviso to sub-regulation (10) of regulation 31A of IBBI (Liquidation Process) Regulations, 2016 - Circular No. IBBI/ LIQ/57/2022, dated 21-12-2022

5.282

u Prescribed Dress Code - File No. 25/02/2023-NCLT, dated

27-1-2023

5.283

u Serving of copy of applications to the Board, as mandated under

Rules 4, 6 and 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 - Circular No. IBBI/LAD/ 58/2023, dated 4-3-2023

5.284

u Application to initiate Corporate Insolvency Resolution Process

under section 7 or 9 of the Insolvency and Bankruptcy Code, 2016, along with record of default issued by information utility Circular No. IBBI/IU/59/2023, dated 16-6-2023

5.286

u Filing of CIRP Forms for the purpose of monitoring corporate

insolvency resolution processes and performance of insolvency professional entities under the Insolvency and Bankruptcy Code, 2016 and regulations made thereunder - Circular No. IBBI/CIRP/ 60/2023, dated 1-9-2023

5.287

u Clarification w.r.t. Liquidators’ fee under clause (b) of sub-regu-

lation (2) of regulation 4 of IBBI (Liquidation Process) Regulations, 2016 - Circular No. IBBI/LIQ/61/2023, dated 28-9-2023 5.288 u BSE Guidance Note for companies undergoing Corporate Insol-

vency Resolution Process - Notice No. 20210709-9, dated 9-7-2021

5.292

LIST OF GUIDELINES

PAGE u Guidelines for Appointment of Insolvency Professionals as Admi-

nistrators under the Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, 2018 u Guidelines for empanelment of advocates

3.75 3.36

u Guidelines for Technical Standards for the Performance of Core

Services and Other Services under the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017

3.3

u Insolvency and Bankruptcy Board of India (Continuing Professional

Education for Insolvency Professionals) Guidelines, 2019

3.69

u Insolvency and Bankruptcy Board of India (Online Delivery of

Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020

3.46

u Insolvency and Bankruptcy Board of India (Use of Caveats, Limi-

tations and Disclaimers by the Registered Valuers in Valuation Reports) Guidelines, 2020

3.50

u Insolvency Professionals to Act as Interim Resolution Professionals,

Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2023

I-19

3.82

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

. t -l s me k nu ue aa mp bf e u i n r dd i ne h m h at k a yf e l co he nt t n en yo vu f l i n o o c a s eh m na pt i s , e te ,r r n h a o t o t i e m sr t a he e cb sh i e f w t io r t f o n os m n t l l r ya gi b nf h i p ,s t i y a h h ac l s e i r : mh r s e sn e tw r e t e p ne r e t a u t u ml pr a a n mdd r v nn e r oa a ve t ss h yl u og l a p o Gi puh lh a adt f i r o lv e t l i n t a n d l hn o eu C si a n tf f t a r o e a a h d y h t Pc t f s s o its p t h e u n l Tr u t o o n m s a i 2 5

, t s se ri e e hr it m oes e t t ; s h f e b i i r shr f o s o e u t t r h s o o wt n ne h n a ft a c f t 5 o oD; i e o o p 5 w ,n o b e c sl cb ” c ) r i e s i e i h f lf3 e a t h a e o d 9 v e d a t e s t e h i i h hi u ny9 n o t e t y f p w t t a t r e h f o ur1 o i l t r l t b o bef n wa e d c d p o v o i f r o e e r eef r g e o “ o m h t s v 1 Tc ht ; r nra d a i ,l e r y t t e5 n e oao e yR ( l o a e b h l i l s p or hfi r r t a 3 se i m e o e coc b t y s i r r s ve9 e c r h e a n h 9 r o me a ei ht f — oh1 d a o t t w s t o x c r f r , e e t b e f , s ft e h e o t b b efo nt h o e o o a c R e r w t e i d u t r i e e 4A o n i d t b s d t t 5 v e h u e n hy e s e t i t b h s e t q b3s n t e u i m i t m e h e enn c o r w a ra h D o t l r t t r oi y t om e m d orn t p n r a f e ei i tu f ,h i e i reo r s hc a o a; o h fo t e h i op c p — i o s i w tet y s h t t rp r t sn f s p s i r s h s t t e b o b e o r n ee h e fa n o fn y s ei a e w ed e n es o oe e df h aoI a t t r s v t e e l l e s h p t ) e r i n u s e a t uae o m1 rm m g a at i on p h a t ( r u l m t c p , t h s l e t n p ” t o r r n p n x e n t e u y s d o e r a n r o au e t oa o l rd r i et t p e a i t s n s . e i t a n b n e l r r sc t y s sn i r he n i i ea ho i on e b s t i o ocF i i o n ; ; c e h h o d o o p w m a r r o c t i r o h s t s d h h h o o , rp o i h e tn h e ub y n h t t yno ws w w w wr w h Au n b a t uob nwym Fa o t e e — n o n n n r t a n s n r f o onc s gsk d o d p t .o o; o b e o o o n s a r r , s s i e t n e e s e e o w m p ” s se s se r t r r r r d r l e h t h h h a d e e a e e o e e e n o mt e t t b t t t e pe cnB a c pf p p p p pf a ci u i of f a h ad n i a a o ao at ao ac co , duo c e t udt o r r j ) ) ) ) ) ) ) e e e a s d t — f s u a ( P A ( ( ( ( ( ( e u f D r s “t “ i i h ) ) t ( n ( I Definitions.

3 5

79.

o o t t s s r r o o t t n n a a r r a a u u g g l l a a n n o o s s r r e e p p o o t t . t e) e t s a a s l e l e e c r r . yo y r 3 ep e 9 ht h 9 t t r 1 a st s , a a t s c rh r A a s a f f y e c or o t sf s p u no n t i i r d k 9r 9 n 1a 1 a . 0g 0 B 2e 2 r 2 2 d 1h 1 n t a i 1 1 w s t mt m b p oe o e rc r D f f x t f te , o c c e( e. 3 y f fs f fs n e r r r o e o eo t i v t t hb hb c o t t e c e e s i i e wd wd f e dt e o R dt ea ea t x cr c r e r r o o o t op p r w f fr r n n o o o o Ec E c F N . . . 5 . 2 3 4 5 5 5 5

see

see Appendix

1.98 S. 79

PART III

INSOLVENCY RESOLUTION AND BANKRUPTCY FOR INDIVIDUALS AND PARTNERSHIP FIRMS CHAPTER I Application.

PRELIMINARY 78.

Provided

Explanation

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

t t sr se r ye y yh yyn y g n d n kn p n e t a o n c c a h h a n n e e c o o i a n e t t i d i i t t t i o r k ae t e m m t t t h p p h i a n ; o n s f m n a s c a c fm s ;b e i u uo C o t ha u swg s e eu; i 1 e c o e e r r v t n i a a s , s 7 a n c r c s lo p; r ma aa k knn u 8 d od ys r ,l 1 hr e e r n p5 ;e n noe re ip e pn e A3 u l iu d y d t e e a2 i s c 1 n j a a p u d l 1 a g o n r e m n d i u i a d l m b b o s l ; n d c s o n h n n nd — qr t a n u em i a mn au n A i u o n t o n a m r n m o v f w r y u t no s ee r oi c aa i v ac e a e d a i i c e t y i o o y o o p s e n h r Fm t t e — n y t v t t c c e g i r d t ; b c c ny s b s f e c t c a t l i s s n p i t o e s o b i dh e a u ei i o d e hh s ual l re u ey t r u ny e l ec s t e s em us e y t p sie pm gc o rr s d c r c a t e m d i o d ; f s n t du j r d r b u t t k; l feh ra h a n ore et o i i o p d s n s a e p o p p b a r n o o i t n v d d d r n t m u i a A n f f d h k u i a n d t i u t am d u m u i p n s u y r e i o e d i t r c s c n r s e r n r 9 e w e t A , l m b a k c q t i h p i t g c a s n nr k k t u s h n y a 1 u i f s i ; i b t e n p r i l a e p u a s e g t e s e t n n c e 1 b b Uh a d a e sn tr o i a aaa ua a r, e ;m sc p e db y, np ms et sl d g i y dn s at hbrb t b i l p n i ut b2 r eu ckt l t h e a a oi o k c P a h s a i n n e e i 9 a e i e h e do v a d r c s hh t ni r gne s h l nrd ae e hi h cm d h ei c sm ne ki ; es eet e s o tm r nah f eb r t i o m d r n e h m s n wa a r m n e b s s i h d d o m t o v b o e o s Ht g g ai f f gne o o r c u t n y a , ” r r u r t a c l r o i d s n , f o ye i e ea o o o oi bro ma u b a n j oc b s o s ao pt e ui c t t u t a l r t c d t r f e k h y e e foo eno n a s r sh a re be j a fd ed r a p id f n mt hh de ts o oop ,s i ob d nr a o a dA f s s t n e e b m ; e t d a n o s p d i a6 t p t b n te aa s e n a st di io ;a er r euo rr e rt b u e t s s n , a n f r o 2 u e h a a 6 n1 fm a a s a m u, hbt l no r i n e e oe et e ds tsm eeh f io 2 r d o e p n n t t e e i i t d s l p i s br hi s a en sn e l m nn h my a1 a; i hti ; eh nrm t t ae e m e d t a e d e t l o a d e w t o b r m sd e u b c ie gee gs o re nm h eb ee y ma p ” h ohf rfs de e a i u e i t h s r c d e ib d st m a o rfd r c o r t n t b h t d fyi nb u r t tr i d i s a ne o ho ”p ”e ua ct m ni n t h eoe ef r doe dr h wne s s t t o s h j b j b s e t d e t e r c , i r ” e c s t s o a a en ey es d b r d n, r w ms i s a e d me e sc — e si ee a or mo f h o e m r a ” h r r a d e e a t s s e a a m r rp s hs t r p6 w ct s t mp esn oe e ” ea e s ”d e e dr n he a t n s s nebo f of u e e pr b r bea ubp um r r i r c s w c a n t e c e d 2 m o e u r o ye o s c h pe d ee s oe ro rr a e tci na dr me t et nc i 1 d t o n n be h d p t s en p mn r d f t u s b b ”y e n e cr e r n uc u p es o c ou o fn e rt; s ho l yn yV yf m eea y e bmt a t ye c t oge a c e c u net ne e e o u r n e e m c c c c c c d b o d ” r r h d u p b d n s ; ; i e n n n k n r t t t t t t t e e i n uh h e t n d e e ” i )) yp ed t nt t i t ye p p p eer ean ypn gg y p p yt yma y pr yt r cc t s t ”r (( ur u dr ua uu nsa n i i e a n uo ea nn n u u na nor ae r ra d nro a t r r r r r r r m y V o r p ham u uaf uab abc ai ko kI k ao es a k k ad actd a kc kt t h l h a m c n n nn nt n n b e ; ; ) ) ) ) ) ) ) ) ) c c s t s 6 4 p s au a) aa( au ar aa h o3 ei x s (b (b ( 2b ( ( ( ( a i b( b be bs C c dd e( A d 1 a 1 c r “ “ “ “ “ “ “ “ “ “ “ “ t ) )) ) ) ) ) )) )) ) ( (( ( ( ( ( (( (( ( -

10 11

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S. 79 1.99

i ii

4 5

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

f f r e as a pp y, dh n t m l a t o o i i o i i s h c n e t g b d h h r h f t e t l aaa r i h t s e n s e c n r u f r o r r i r c o w r f v i d t s t t e n e a e t i o a on a n b e n s i c e n n e p l o i r a t n e h o e c t t r t h s p t i o c t y d r c r d e b a e i n a s a a r n g r n y r e n f l o r r r p P a p t n e e n i a h e co o ; o i o t l p g n a t n n r t n r s n a i n 5 e y n e; e c o a t o h y i r s n n l i 0 r i d i t u t s b s see s d a u co d 1r b n n a , t d n e d e u s ; i p e ent b at d a os h e nn n d u n I i s i s d s a e i f e r oc o me uud i u o e s g n n o t h l u c eiu e i c u t h h o r c r l t d o w r nb h e c t ; w o t rs p t po bf m ne s d o , l er es o l s i r o s y n n r e e a t c t t s cfe p hwm hp ysr oo a r l e i 6 l ; r i b o i t c h n 5 t d c n u a na p h ; d r g9 e u r o r i r g c e s n n d u o ee nr e n y o a d d h i e t 5 s vo a b a e t f en c i in gl n k h h l g; n wnt s r ip n i y o r ; r o us a l w u s r a nd a r l a d i n r o r , g h s a i e e e oe e t c ri o l e u y e s plo nso b. r e s t a l b h a t n t u r e i m i e b f c n o e c e i i t c t n 8 r e r u a3 r dmm— r f nou nf e d e wc ss poe r d ro c d p c i arl l t s1 taue i o o r de s e d e e u s b n spo nn nr nsr f t e ar o n s s t o s u s h c e u e er a n a u a b n d o sl n l e t l ; d s ef l ; s b dd f o a e ei e e o p o c e s p a f r e g i i n i et dt mc t gu ee a y v a n t bn poo mftn o e m y a n o i i a r i e m at tc o a iu r u b e n i c s i s a s d e d ” t e t t c e l t o t m n d i spt t hr i n p n ”o o s f scu dy — e ma a l e n ; n aa nnt t h a e e a i s s n e t c a n i r r ea s n ar o a ue m n q f o f t p p v r e i t e i a n b d e n r a i m i i f s e hl i l et ; o m a n x sl r t ) e t m d t ot ee oa o e cp s2 ”n i bs e y yo yg a s kn rao d e ip mum l b yi m n a s c n a y ” l a 3 d g n si s ma m p au p, pi e e o 9 le t nrd d e ha ”oo ; d i r e h d ” e b w e a c n s y o e e i e t 1 r ue ” o or r t d b r be n m f b o e e l f a n r a d o to h l b e er to a cu t t o tt n u e d to t dd b r i r e eu h ra nl b y a d s er yt ye y h sot fp oa l t bf pet n p p e i ea e t d m u e g s p c t t t t t t n ho i i do n t nv d i r9 ed il g te x o i i b n e ro ( b t l l l l a t h s y t t h a ; i i i i m m o a d e c e uc e e e a n o i e s s l d l i i o hg t e b bt be b y er2 i h d yt mha r r udi 3 t t a nu n n t d y n i n t r r c d a as ah a n me e i s s u i i i i a f d i a as a a a a a y p e s t l l l r ”h9 ea no u l i wo l f i rer l a h h e l o f t mt1 mn tj d p a e ) ) ) ) ) ) ) ) ) r c e u , p c r a d s n t e a o ns e uhtt rh x mr a eo e c nt ( ( i ( ( f rr r i ud pr qtyu ( ( ( e ( ( r i i w A u d b o p o a s f “ “ “ “ “ “ “ “ t ) ) ) ) ) ) ) ) ( ( ( ( ( ( ( (

t dr ea i t f is c eh ps se sr nf oa i r t i o d f nn oo ct i ea hc t i . l r sp l e i p t f l ap u a fnh daC nes aki tat h b emr doe std i n d h u e yl t at i b pt e n oe d t g een l bi b l y al f na i l uha ssu , i ) q o2 s h( i wnh of ,i r o ote c t e b g s er a db h uc )si s 1 n d ( i r o f

80.

Eligibility for making an application.

, 9 5 n o i t c e s f o t x e t r o F . 6 5

see Appendix

1.100 S. 80

CHAPTER II

FRESH START PROCESS

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

,e e y y d ne l t i a m v c h h n n i t nt et a f u p e oo s df c u y i w u o a t s n t r t o s r e me k s i e d h t t n h s f t e b i na t a o e y t ed re d b i t c ee pd e x r x r bh i e e e ng s o c h st t n oi d x t s o a i f e e e t y s ho n e f u e h t i s l c r c o l s w e o a x e o n h su o t e f r t s e p d o p t q e r an o r o e ho n as o n v d i o t Cm i s hh i s t b d e t t g c s e e n u o i b e uf v d l a h d e l p oo o t e e ; d s r rt sm ; h rw t e o e hc g t e e p r t i r t t n r f p dg b h u i i rs o yt e nn r y , oe cs t s f k i d ui i t nn yr n n l e e d l r a e i a l n s u h va ee u a i s b t c l g d g nr q a . f o et r a d n oe o e s e r r i e st ng opa h h e l g l r t p i t n t t e r e r m s e a i f f , t a a w ph s h o o o s h t s h t i d c rC s e e e s sn c a e n e u; u; s cb h r i hs l i l i s s o i s u l f — t n a a d e e r h i e ve ve mr n w f a e ps r t u t o i ep ep u o; ,ri n t to fh f y t t y u u s r e o n t n t a a l n r r n i u a d p o o n g g a t s o ot pnr a nr s ed r ed t i i i r a o s t n n s u v h s n o s o ; a g g h o s a a s t e e oc n o ytu gs re gs d se r i ar i e t g a a e s c u u l e p A a a p mt p eo eu eo i dr ro ol p g h ea hh hh e ee fr n rsn b h h p a r r t t t t t ohi t t sa ) ) ) ) ) ) ) b e ( c ( er ( ( ( ( ( i dfd au j rd )o 2 fA (

; -o tt f s p d n n n i d r i s b o l i u o n h e oto e p e i i t a d r t b y p f d c mnt o e e c i a l o a e r i i r -t t t e h m e p c n a j m ma y d c l i s s n e r i l n ie a a u , e e r a n o r t f a e r r p r s f e r a b i p e t f n n no t eem m t i n o i s i e hdo a i n g s n b t i t f o no d g n c d o fhh i y i ai c n e n s e o a w ,t i aw a s ; e p r r m a s d i e e s m e o o oc t t e m e l t m f h m i t b l a e s l r ; o t b o d s e r i d p d n a c f r ep t n o a d e s n o o , o i e n i f da e t s i f a r t e h l t a hui h g; i p ado h h da t r t od nd c t yi e r c a t i e n n e e n i m o u e bat d f l i r o h a s p o d a a c ny 0sa n ; t f d a t s p r n l e 8o o t e y n. n e a a d o a e p s o i d i h n h ngh t o t n i n r e t t e t a c n g ont b c e o o a b a i h a o i e f n e l b t f s t i l n l c — t t s i o i e l r r d b o c i a f t o d l a , l f e c egs ef l h b t eo d p eb g s t a p p s dne c o s e e h o e e c e i hr re e t e s a ) m d et e. i cv l ’ s e e r t a p 3 r a p f f o y h a a e l dtf ( b e s e o o rh n t 0 e n p p d t e nae h h 8e n— r a y r n b t o b t udey o e e a e s l : b i oh e e g ny t n i l y n dhvm m at t ih i l u a d t o d tt d i c g n a o a eth a i i ee et l ee i d ao e k r d n t e i m t e l e m s l f c mt h a o r i s m n wd n oa l e t es b sot a b rr t m a o e h e i i o a s f a a oo o un shn e l ncec r i y t l f y , s n r , s d e t o r i r ona t a e t o n s o a e o b i i r e p i w i e h r e e r eh m i t v p d t e e f ; f t l r a m s b s a t c u a g n d d c a l t e s r c c ls m h r c d i l s u al n a i l a e o. c t uc ni lmla lnh e i o a c a t u e , f r l o t s b o a p r n r u l i n f t i n ; h a h y s t e e a pcs e n a s a d f f n o gs de i o t r a l t l t al no a on o e n i nb o o i y i e n es ed t r l c i nada t o w p r w t a i t f a t b h a s s i a ahnc y c e yb cc i t i ee l et e e i d i cy l ao h a nsai ho t h t h h l h ne ou l s e s b d n t p p l a a a c s p t t t t i emt pi p p n hub g d p ) ) ) ) ) ) ) a a a n e e ) i c Wr at ( i ( ( ( ( ( ( ep r ( odh r e )t m c u h e o 1 hp a u h ( T o T D t s p c ) ) )c lf u l 2 3 4s o ( a a ( (

S. 81 1.101

Application for fresh start order.

81.

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

re l e h w t t p o n ai n hr k Co s ’ st r i b o h e t t b . rdn e e eo d dhi t nta e h ufc o t rs i l o e p t dtp , rba h e o c tde i r h g h a t n w; t i f sm sy o h f g i i s e l nh e t a i t ru a d s f en sqd ei uee ca h og oht ra itf v f p eo o ld r e a s t gc pc h o n en t ee np l ts y o nm ae am hrm ne fo ti n o v c o l ee sn t i dw r e a e aat l u b mmg r cs i n i fni t a e r n d h o ee a b pe c c se eg ea r hd t hhp e t ) ) ( ( -

1.102 S. 83

. a ln tee r adne o do ) — h e3 o e h ht er r no hrot a r n d ( l t i i w t p e o gact n f n f t n c d i i h o uo s c l u n s o o e k . n t m n a e oBe t i s i s o s h i t a r r n e e ree y i a y c a f wt t b fio hh o g n d s g a e i t l u o i t t u r l n s e s a s l d l l r o a s i o l rtl s o s p t t s h a b a oc n e h i s n r m g s r t f t ehn oe eu no ihn e b s o s i u r o r w s o t h ) r i s i r i ei r A y f 2 d t a s t n p ne rt ddde ( a e u i i r oi e lne g d f c l h r . t y n o el t t o n t nf n on oi l o b o a haaco i i s i r p i h i n o h u r t e t n w n t e t p i o u a ort i dtp c r y ysi o u p a c l a h n m l t e i byt . e e r i a i t t o A c s o s a t y r d h a n di cri l u so ios h n ui c eriap A e; tne tga. oo tb ) t u o l h j n r i f s u l l 1 np g e p dc yi l n s d t i hp o s p s ( i f o i a n s u no bt t l e Ap r t o a s e r h i p n s a d c A p p h t e c f p e t iuai ea o r ei o o i a ) p g d t f l i e 0Aecc c e r d h 1 s i r t u h o a e n n t f 8gt is ( i h ucp ri c a hn d ru t te sjet pt t yf nn d t r f e i i n d u d a n r s o bo o ot fos 0 e j eAea oc dd i a n h r i o d i b r t t t i 8 h t t c m s a d t t d y s c e o A e u c t t p i i e o u e p u y i r ed m e ts ner nhfh l t n e s j o t B a o s uc n b h ir e-f i,os od b c j e t o s i e l e b t rd m e e l e e u o o r e pd t a uh catr eA lh a f e r p n a e dAres t t p t s n n h d p n fhs e au i y rr sode ah s i e o r t a h ueota t o e s e b e h a e t y d p e h e y s li df d ht t a t c hn p ntt d o r e b a i t i v n t a e o h , a r n f e a o oa l n f o t nd o ul u dth n fi t o i f o o r t i e a r h n dw u oa e b l i a a c p n e h m n s u p n t s r a i t coh t oi . s i y l m nl u s o a e i n o i e i n o p t a f u m e l i s s a m o t b A o i n t b i p f s od p oa n o t s a fB i o i l o n g peo s a a o l c l l t y n c c l f n n r s i i a ao o n a i a p l mn ol ses luee ai i l n l r h p i s t t h nryhe a ra t om s c a po povf s i o n p apatf c h e s i f e c d ) r de o5 s ae eas i d r endmo s ne j p i s s r e i d n ( r t n r n onor d ol e e a d i d i r p a u e u n r e a c i r f f a n c h l a n j e o h o htef v o n t o u e d i e e t h ) i B i t s r Wleno o ) t A t h B w o o s m h u i e e ( c ( t e g s it l e r g e )e h t e n d u o h n 1 hms a ur h s i l s Ti rh Wo ( Toa Ab o T v m a e , t c i ro s ) r )h )e )e ) )u i re 3 4 5 4 6 2 i wf c ( r ( r( s tBa ( ( ( Appointment of resolution professional. 82.

ree ry e n a e o . l hh a ho 2 t dt t t i p m t b 9 nof xe fl u ut o , n ed o l o o a r et s se i oen l t drn o o i h c o r i ap a i t e nts t o ec mr e s e s me i e f t dh t naj o a o f e ro ot e f r ) mf i r ho 3 ir t rdp t ( a m o o en cb n f nn o i r e n l i o i i o u i p a c i n u i t t t psn i r q c n p u ada e e er l o o t h s o enp c t - r s e ee hae b lh t ,c l u ubr t a s f e etc n y h a ha ne r c sn i h i e mg t mt )h d umf n 1 s c i an n s ( i d xi u rao o eon nh n n e f ow lpe o g o l l i p i l t i a r n am t a n c a hs i m cap eo h si i c s t o c yl i lh a c s apo a b c i e nfe i ul mph d oor sp d r a lat i r se n o p s na y s a f nen i h h a i e ; f dt s e ot . oe , i i l o t o h t e h s n b b rn, s t h i o i dt pey e g e i w n w f i t e d t l i nti o a r e g n r r n onr d m i o i s e p n o o h e t r f e h i i s t n u t — i n e y o t i r t l c oe i f r f oe i e wu o l i i n r l i pi t s0A tn t n a b a r e u nrh oel u a l 8g r i e . o o q c nn pma l eni schu e n t ho t o e ) ) r s o a s n i o i r Tt i t i ct e ( ( e s a c n e i y )e s d h d c hnn 1 ue i i sul To ( v Toa f i j p t o o )mr )a d p 2 rr 3 Aa no p (ap (

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; . so egr g y g n d hr n 0 r e t a hno n n ce oo n i 8 t i i i c t i i p — t ud a l n a t t s y b sn ga a s co; lb f n n o a o e e i i i a c n s t l o i i t hu d i d i mm t a a i cn t e d ss d e r ne c n l ne u e i oo l i uh n i e p e r n b a q f p j n r s e ru n t a n m d n o t o o o r u q i m o i n o o i A n o f i fe s e t t nr n u t i c m d a e s t lr o a o e h n l e c r n s a i h o c e h i a i i t r o s i u n l h c t a l hh a r tp t r i p eo p t n st eo np o r e f d r i n p i e f t o r t e , a ee rte ahc b , i eo t m f s th or n b de ge e i bt en e f c u o e r nh e d p r ha i r c sot ye d i t po t e o at p npf ac f a h e e s c h s nt oeo d c s r me h t i n co i sry l b t e i e e r ot a p t n eo p de s ef y h s na a eh l p o ed i s t r b h i a o c i t a d s a t l t f i o e a sd i n p cs e n e i d e t e h a e o p i i e h n t i ey t m uhl rh e t v t p t c o e n ha y d i s a d d p t u e t c h e — o g a r c c a s p i i o l f npu tc e sn t e l e l s s i n m o t e c a j h a p a r e i i a o e v n e n t c . t p po r h t ,e y i r a o hss r y a l s n t l r l t i h l i l e p f l e ml t t os l ob l e d t s a t e p a a a a e i n t si i b r h n a hc vb r haa w d h t t o m a r s e a h i e s s e f l e i n n s r s t e ) r pi l l p l d n lh i i b 1 uo e a t o a a i ( d rw o l np i f beh n ntn a s e n e n e e oe i oo fo n i ohy o n hr s di ho o i i t s e tta i s o t s i s p h f t s e i t s l o s s t t noh no a nc a c e t o e e t o f ob f s e hc os f ya t ost f d i i n i s o o i o e o l . e na a d r r rp n r a r d rtb c al o o pe idh eco p s e p p r t p n e p t t t t t u r e t o j a rx b b a b b na oh t n e st ne s oe ; eei es od st v a or r se o e m i d d i i . t d i e t e h e h rr) hmd t ti b t b trd h oo u 3 l a e e e e u u o e e e t t u l r u l l n ho hd hns hb h o nt n( o b hct o t i t t t i u e s eon sa s c o e i e e y dt ) ) ) ) ) i s n r r t r t t i a ( ( ( ( ( eac r e et hme eb o h e h h p s h Tret Td T Tc o b s f )n )i ) )c u u 5 4 6 7 h aA ( ( ( is (

fr. e e n n 1 n o e t h oe o a h8 t t i i et t t m t r in s c u a o e o e ll s dri s t lof a r s e c 2 . ed o h b e r e s 9 t hr r ui e s t d s n d n o f eo er r oh mno i r i o e tt o ) t c a d c 1 a e rs ( ye neh f c s s i b h n u t sa l t r o p y f p y s i e o pt o a, t t t i d b a c dl r g a odn nne een s u d e i h h - t ob ei s ds t e es i u t u ggg v a s n r A r op ues nia i y f r r g t e oo f h e p ic nph f rd l i e e t s t npn cai bf a i nu cud h c o q l a o l i t r i a i s d te )so d y wu h 1 u a f a ( sa j e yl d d o m d n l n as A b e ot on i men i i e e t g r t p o i c v h a el yei t e t e c e t c . ha i i s s r y c l t r c p ase b t n b oyl i d i n hbp u r dph nu t o eai t tp se u o r e s r a e t Ao s e hw bmr a t pe d a ge h n nsat pfo t nr s r o r i i g uae t t e e h a n a dhhs dyc hi ct t ehte rpi i o r o fc scof l d cp s i e d uoj a h p ne eaa j n e h p h d t or rwat he Ai ft r l t e s i f a o h eso dnn o ywt hig ruo s p n gi Tmn ooi e i b emss ond t )u s o t h 1 i aeo cl e s ( p T f A a m n r o er )h )1 )o u 3 d 2 i a ( tpp ( (t

l t e l b t a a e h i d t s i n d y i n o t i a r o e f n p o l l t m a c . t h u e sb i p r e s s o d r e t o r a y t r i n n d o i a ef m g r n o c e i t d h d ec t en he , t ea n p ,s c; 6 o od e i 8r r t e py a nn c o l a i i a i t l t s s p g . c g s pt en e l n ab e si r e fd ee hd — ob oe t e ne sc fe d o n v h o o o i t ta or i i nl c h l r s p oa i e a o v i r l s t f p a oo s o r i d g m n mt u ee po l et i m dc i ae r ge hc p o t n a e s t fe i d ol o a d t r a n er o e t g t e n c e a i m pb e l l d j e l y b ec e ya u n hn h nh s t a a s e t g nm n ) ) O i ( m ( r )o u 1 c ( D ) 2 (

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1.104 S. 86

,r la et g g d s a o e m kn n n ei n r r i r ae otg od t t p n t n di n m t i a ce i tu t nm c ye o c r r i l u g a ad t d oCg t hd a s c er u e s e a l n en er j t h a d r at h a d ne t i i i n r s c d A od m yu t m e nb nr fr e r sd a i o f s s h o a ndi ro e t d a i e on f . nn f e oe1 i h g i o o i f h s o yi t y 9 i r n n l i t u e i s n t tt t o a o n o s a b c p a an i o e g em h c s e l o i i r r oet s t r l t hnc i i e t p , o b n t d ; u n m d y e s i f p f — r, i l t yt n ns r o sa l o e e n a g u o r f l n s d i a p i e e o n o , m s s s o n i t i h y h e i a s ) t r j n e t s no i s 2 h e e s e r a ( e t m t r am i h n o n h e h o po h n e d t t t t eu hi o m y f a a i e b r t i l o h w h oll t fc a e op a m a t o c t d ce y t t v a i e u c s p e r n h s e yh n r h e d t e oc a e f h nt i we a i c b f v r t e n an d u x e i u r i h p t t , f sd e es r e t d a eh d a n a d v n o oe mfi r i i ate nm e p rn d ror r i hd h u o s r n o l o ; e n e s s t a e r f I oh p c in ot ef s e i n t u e w r e t t ec n i m n i m r t s d o c c i e gd i e io; oa s o an u d f s e n s y c t e , u s i r nr t o t i k a r n n u p ea n n da ee e o o ab e b ; o. c et h nv er f4 t s p s s f r i l i y r a t r o t e i m a e i g h t a m m r i p ed8 v lnt u er o to r n a s s s u o s m q a n b r s o i i i o o i m ci c r i e c e a d h r r ; s i l h t t n t o a t os rrvs c t t y t e tr s c e i s t o e f o a e e h oaf o n i e ou a i r m f G d t A n n b d n t p o c s f r i i a oyc g ) ) ) ) ) t n ) i mh l i ( ( ( ( ( ( p r g ei p u he a D Tde ) )n h 3 4 at ( ( a

s s e e y y ne n d m i a l e t h h h o o on h i i c s t t t i i i r t h i t t r o o l , oe f c a ) r n p p o o t hp 6 e i e r p m c t t ( s d e u a d u r ae s t n n j p b e o r a A b n o i u n f u a d i f e a n t i s e gio e h h i c c f e , p r t ni t d 4 o e e h h pr i e a s 8 p t t c w y a d o a s m f u b a no c,n tf s t y u i o w u a s n b y d s s ai t h o sy e y b u t b t c r m i n d a j b t e o e d r d o c d d ) ds e e ) i g e Ae 1 t t t 5 r n j n ( tg r c ( b i e a n o ewe e y n t n o r i j p hod f m o y n o b o i n t p y i f i s i o t ; l i t r a u y t l h fiu c c e u a s e r b n t o t e e v i e h q u b e a e s s e w t red d q b e e b r e b r e, l f g s n h l u ddo e u nn o i a n t rge s d s i i h m i o onh t f r m r y s i s s i o e a f e i n at ) eyt l i c x d d f l 2 f x s hi . o e a el n ( l n lo c a d e t j i u a u n u b a e n y l t l — up l q t l i nq oi o b a af a n : a e. n. i i iy l t m r h he e o d4 oa a l c i i dac c 8 s s h s n e e t t lf s e e e t a l c l o s a n e a o e a a nmrm t ho — i t -r nl n t js n a nc o b i g f o b i s o l i e oj up o n ma hon e ft be t i i i s , n d oc of se i e s s h e a e k s s r s ewt xs e ss no rb s a r e e e a r y e f l moad a s r n p f f m d f d t a o e o a e e o o e r n r4 u o nd ln nm r rt h i e p u o p o f p o8eo n t p h t n h r c i i t e s n t s f n i tg o eu yt n n n i c a s u o d o r oo o oc omg s r al e i r i et s i i t u i s t f t o a n l t t oe ms t oi r i a o t. s u n cr u u c c cd r l n r w a l f 2 e e n nr re c ie l o o r . s o o a9 o l bp i yssl o i hn t s st i e pm e nry n l o evn eo e d p i e u h r i Aeao ) ) r r e l o hi e a t t c . ddf r eei tt a )n e ( ( o eo en edc c u hrt nl c h h n o 1 h d n i h ue ( Tee Oo Ti Tal At T t t b n d s t p c s )o )n )e )2 )p )o )e n fo f 7 2 3 4 5 6 i ( o a ( s ( r t to ( ( (a ( Objections by creditor and their examination by resolution professional. 86.

t r e ge ir l o l h nt a b p i t i n t p s f a o as s l o i o h t e fs s a r o t . p e m s ns r y e s oee rr t f l i u b oo a t c e f qo a a ; dh l n a mer n i et rrp o en hn o oet s t h a h i r f t ro e s t a n s e r o t t i t hs e c t l f s t l a nf a i a h a o p or s n lwe sm i a tp e i nyr o a c l f n l o op nn e o e i s a r i s a mh t t s n s u ot s s e i l co a f ma o n l o h s u o rdt a e n i c n pno e r s r o g s i nai i e i t n s osa h ca m s i l g l t t e a h e oo nr u i f i c l c r o t t o nh n r od sei e a r c e e l p nu oi ma r n i rl f s e n o p r d hn o t i p e ne i t u i ls r s u a oes e l e t i t o e t t gh r f s eao n e — l e . t e nws , a b r l a s a l s m h,e p r r n a m i e l c u o a h i n c h a i f c y yt s v o o t f i no na r r a a t d a acp o e su m t l r i k b ) ) o o— ( e ahs f ( f oe n d m r t io e h ) ) T ( ( ) 1 (

nyn o oai i m t t u u e l l o o hs s, e e dr r e ech a hl c t u p te s a f hro e t bt no n ot e i n dm i ee p or c ia u eq l p he t e rr fs o ie h s2t i 8 rnr oo o t f i i t d c y ee t r i s r c ro ee h hdt t nu r A oug d re n ot i t t n a i b eoc i dpd p u ea j hl d t a nA eo . r ea l i e hshn t s o We i o f s t o )r s 1 yf e p ( l p o pr ap

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s e e n h h t t o i f t o o c t e e n r s i o d o i t p a r r l o u e f r p y e n t i i h r t y o r r h a o t s f u s s A e t c b g e e n n d i t s g a r c n e i i d d y i f u s i j l n a d o u A c q e e f h h o t s t s a o i t l s d nr p e e o o t i d t; s n a 0 ; r er c 9 e i me l h d n t p ar po o no ai t c h ae ne c g er a s . ur r a r so a t ph ee eb k c d es ke r i an a m u pd td ) ) ) ( ( (

,n r e e en n ne e uyh i i a h ho o r j d t t t i i m d y o n r s u t yi o t t A s o o r q t bc d i n a e e t ri d n y r nec p ha t ea a i eda t og r e n r kh r e yBa h c h e u e au k t beV c h t f t a r t e h d h I nsu o o r f m s t ett i oo p i r w e wda nd p sg t r n h y o c o onP n i o t d i l aag a t laf n ; e a a i edn an h do l c, e t n n o he p n r i i l ni l t I o l a e w t m p i e V o e a yta t p n h v o t a b bi B d i r ac c n c h g e e s i e d di e y t t l a ep ts et hp t o o h e h u i vwr t p a n l r t np ,o ey )oh l a i 1 o s s t r e h C e a ( a c h a g t d r r h n c h r i gmu l e c e od u l a6A la a i e a d a n e t rn s8g ds n c n k o i o f — nn i o es u oa s oo lo i i: i s l t hi a s d tty sm sr s ie o l s a e s b y h wc ce e o f; e d u a r e s f i o n m ft r i sa rs d d o r u or y ua or po r rw r i q t o e t n p n s j e pt i . i i d d e 6 r d dre n i , nd c n8 s e ot enAd oe nor on oe t i r u hr d i ufe i c r t l b t len t u u l o c u e n u u a l eahu l i o y. l h o t oh Af e ot hnto o aa c l i o o s r h t s t s st i e gn t e t e g mn a s rs e t s i r a i n c n r r r oe g h o f i i ,si o eg on t l t o e a e y rfi i s p i n a h t o t r h h or s i s p i w t ne cw a o tv t t t r i a c o t p b o f i ) n o t t t . d i i r l b t o 1 enp l a a a ehc e u t l i r r do o he ha h ht j(f m p d f p a i t t t t u d n s et Aom eAhn huae ) ) ) i r h l o n t c To e g e t i ( ( ec ( ut )sa hee hns u d e i 1 ef s t l Tr ( ko eo t Wa y i b an s cke )u )i s 3 ar 2 ma dt sa ( (

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General duties of debtor.

ro r n n on o i o f f i , t 8 y h c y 8 t c t e i i i r s n r h o f o o o h i hw t t ) t c r u 3 u e o ( A s Af n g n o r ge n i i n t i t t i o c t p a t e a a c s d ch i i r d e b C d o r u u; u r j sr s j e d i d f n o h A e i t At ob r e t r e h r. ee dd o t r hd t ee b o tn o r t t h o r e b u t t y e d e l f y r d y p e e e l b p— r t he p a: t se t h pa n c yy ft am al on o y e i a y t . b mm c i s ae re l e i e p d la r i a ha tc mt tm u n s n, n l m o o e os a d a r i i c n y nyn s el p o o s e ne i i nn hm e t o s t ab f a c s n o o f f e e oe rr c f f oo pi otv eo en rna nd c e c og ns no poh n i i n a a a t s t n i f i i c a n u l l o o w l l p p o i n e t o i o e i r m s u l sl , ms l i e 5 o o a v o n o r i c8 cc s f o e r e e s ) ) hh r np Tt o ( c ( e i i f )o hc t f 1 i T ( c ee y r )i n p 2 ds a (

. n r gg e en d ne e ni h h h n e o o o l i d t t t i i i i t t t , w n a ft a c c r n a f . o u co ei et o i l s t y tc sc i l d y l l d b p e i sr l b p uo i f e f e u t e j p uf hn s d e f d c a se te l o h i e ee At p ne rn w r h e v e i h m t et s hn oa da o i f h n a t h t t o t g s h c o4 u 8 s n n t f e do t e y d e i j o o nn t r d e c n i e r i oo s r t r r n s a i i r e y c . o t t a oc r f ao i r re ao a c t r ee he e d s ; t ce c t t r t s s i n s ms l l ur e np ni nl r p a m e A f e u a o ah pe c r o e d i c h g ad o e t m t C r a s e n r a r h i nn i s c s u r s c p t t au i i o s l oe l a t h t f e a p d f p ie r c t d o i c r r i a po ma c no f i d u ar nt r o r b s up h o y a o ep j um s t t h b b h ns sr ; n i t de i ye f o wy tr Ah e e5 8 a t i r ad ,a ga d e e s r t l f ns l r n ni ha mo ho i eo iv am t . t t s lt h 6 , h o i t dr nr ht a s yf9 s) i 1 i e o tc ni d e b m p f 1 ( t y f e e r r oo y c d e tn df g i a n i e bs a s n a e r h o l n o f o e s i s o b t o s i o a h e B r t e t s i i t e hg f t c) ah hc c a t h a o e t 3 d ci n e d pes l i u rc s h r a( rw ye i n rt po A- o o n n b l n n a e v t i ne p o i y o gu e as dt b i l or ns hm r o mt — oi ep i i t t c t r dm t g: tr oe u fu odd y e i a e c o e n e s l l eo c d or h i e dr o ut -e o i h k n c b i n b g t se t d d t m v r o e e u a n u f o u e f of e r i a fd ns r o t i j s re n s n i ey d o so ypr ) ) ) ht , a m A i p s t Ti er p ( ( ( o d r a e e )o c ne cbt n h 1 h i li s h ( u t O Tl l t p a , o g )p )1 ) u r he 2 3 Ag a ( sr ( (

(4) A

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

. l l t t e o n n d a a c pn h n a o e e n n ae t i r t p o o f i em a i i s u mom s s he e d s s q t r o o c n e e e e h r fl a n e f f r f m o i w o o e l a r rm tp e a e b p p pm cnt n r i y s n n e o r no a en e i co o c i o s h r i m ef a e i s t t e r t r e g u s f d u f l er e a da e l o o r ha l o n h r s a t s t y o e p e a n t e fB f r m i n r o o o f r e i o o mo se s rs h i h i s t y e h t tot e u at hs o p c a f l t do i t eu o o b o e s s r nt crA ne n e p ee e, a c h r ) o g n vn r t i 2 n t w t ee o ( i n e n c i s e t r t i o h e na n o ne u t r f o c s i l i p e i i e s h o ft d pe hd s d r t o c t e n i a c e u ej v wa ha r . l ss lo i g t e d y ; r g i lk w n ap l ab ws e s a y duAi h t e d a s ha n n r c sm oo m— i nsen yt a e ) y) erhe t h r t t . p s y i 4 e t l t 1 t a p h r i t ( a ( d h i e r o o n r n mt nt s r t onn i r i h o r e a o u hoo h a t i w o h r i l i t t t u s s t t f i t s u s e yag c c Af n u w n e t e t Ae i a f Ae ih r h on l s i s g l t gso ,ri l d o e g a l n s e b nbr a f e r i h s n p e i t o u f up h e i t e t r o a t s a sn s c c f u a e s a e cro r h h o Aoo i c i r r d s e i e d i st c . d t d rgpp u od d o du f o un a p r j n u o y l n t j oi ra yr d j o u t u d t d u c B o s A a ) ) a Ane d ( cnn epB Ae ( or ei i e ei l c hdv hee ea e ht p h h Tah Tuli Tth Tl o t c j t c p ry si s )l )d )o )e i f 3 2 4 5 nd po r fb ( ( (Ai (

Revocation of order admitting application.

91.

mala fide

1.106 S. 91

Directions for compliances of restrictions, etc.

90.

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

. f se sd g. e g n n r ) t t d n o r h n n o o n e 3 b b e o i t s — i a id u( t t e ef e l y r m r f : a a s c n ; f de d e y r i o o c c o n o l l s p i gb i i p ge a e i t l e d d t d r ns n r ug tc r nb um p e o y i i u p e r q e j y o ed h y a ns a a a p d f f t e d n i t e h i f e o l A l g hc bb e , o a hg a n t n s h y u r e s t e ue e i u e i f t n t qv ty hi qa od ds h t a f r r a t y i a i t e fe c d l e o l e e s n i c , o s ra h f d . ) e g b h i a e e t 6 2 u ts n d9 r t d a h pt d f ( s a i t m u a so i r1 fe e rq le h a nl m o od o oe h re r ll n c og t a t n o e s t eh f t i t o n B a i i f na r c t d g i r i d f i o d c w e t r u m . f o t e s c y e t p s l a o e t c e t h o s t e o at c st l hr i ah bn b l t b s e ne r a r t e o c b eo f e i r t l d n oi n l l s r uf d r l dt t i h a i ad n se o ; e d o e t g o r pt i g t h c fh ne n hn do hn t eu s ab t t t t e i o A d r i s y e y l yo dd )y e s i r pg. s l t e f d n t i re 2i sm i i gl f o r t d ae ln aa r no l i ar (a l l e a r n c n . r i a t e ph) of ue tn ri ab we ou g i l a h n e o ha 1 t f r l i s i i r qr i sc dp cl q f( i oe t n l t a a p o c s v e l r i o n f a ld n a y i t h e h a a e h o a c u o r d b n e e s s c h n t o r i f ut nj i e e f gt ta b s t el do t od yr i b o c pd o s f pp e i s t d l e p a u i e m n s i e o l t Ae r t e c g s s st e ga wa lo ae hh m ohl e o c e h r t e f h n r c t f i sr ee pt o ho hsb sd af o h i u t o d e e e s d f u d p rtc u sd rh s t e mh g e o ns po t n e d r r r r l t r A t u e a u e t d c e e a o e o n nt c t i nd sm da rn rr gfd h i ) i i os r r a i o e n r o e i e i y tie ndn dc sd o2 i l d e ( s t r h u h u o t e r i i u s f r y t j i e t e t hp a n t g d l e l t t r e s g o cm ce i o rn ol s l ah rm ot r i r t e i i e su a l i e b y n l p p u t d a a o e g b t l h si c ne h ei l n r ume th r r a n a e ca d pt tr j f i h al i s c o s u s ei i s g hy hmt dut oy ) ) ) i d A i a b c n t n s d r hi Tbr n i u ( ( i ( t o e r i e a d s h )uo et d io d h 1 s r m ha W e n h T ( T m o r T i n t d c e )oo o )u )d )e nh r 2mt 3 4 5 i ( A at e ( r f ( ( m o c n i s e i t u d d n. a8 s0 n2 on i o t i c t nc ue fs r se i h d mn ru od f e r d e i pv o l lr a p ht sc lu a d nn oo i s c s e f f o o re pd o nc oe i t h u t l o h si t e w r ee hc Tn a i l p

) f ra he 1 o e gh r ( d ut t o n n c og l o e ul rn i a p hi t y t s c t s l a e e s ri p r s t e oi pl n a yn b n i l li u tu a r y o s l no nm. n r of r e l y o sy i l l d f r t n i. a t d e n n h e r e u pro s hi t o o t t roi t r j h ; n i e s f a o t o m n s hu o t c i e o b t i t b t l A i i c a e e p t c u o c a ,gp dec s i r y l pi e na hs l p p i l p t b c p n e p n pa a o ca urp l ai l . s i a n g s n a t yd ; s n ,ie h a s u au m e i s y l h s e c mjt o t e r t t i ) i k o c s r r tdi f 1 e A e a o l m ; r r p aol u i ( t h m b e f n p ah p . y t f y s f u t c c o tu oum ot s e i r t r n doy rAr tb t a p c k i e e e d t f g ed atb n u n s v r e s l n e s, a l l , t o i t s h s t d k a h r b s t i b i s t e t a n ne a mo d e n a pcf ud n i s c r i e i o u e ms f o ad n b g r l e s r s oe c a a a r u e s r p b j x a cf i d e g g g d e h t r n n oo n n n n c i hro oAt i i ut o s t n r o i o o o e i wpt b a nn g r g r g l d h u l et p o r rnl n e d e e ooo e ie a t r u d i h o t d d s et t h aa s b n n n n eue hrt c r l r h i a u u u t f l e o ds o c y e p o t t i ) ) ) ) c p p e b r — ay ah e )rn e t w 1 e i hhr s ( ( ( ( av ( ns di C o l W t A A e j o sa b s 2 i )h )e )h 3 4 n ( f d ( tm ( i i 7 5

o t s r o t n a r a u g l a n o s r e p o t e t a l e r y e h t s a r a f o s n i 9 1 0 2 2 1 1 m o r f t c es . f f r e o t hb t e i wd e dt ea cr r o op f r n o Ec . 7 5

a b c d

Standard of conduct. 93.

S. 94 1.107

Discharge order. 92.

(6) A

CHAPTER III

INSOLVENCY RESOLUTION PROCESS

Application by debtor to initiate insolvency resolution process. 94. A

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

1.108 S. 96

r nde n od oi a i t r n m a e u cp d i l en n p a pho i att m g a nnc r ai o l ri f p fu i h )dp c 1 ra u ( oe s. nth d b n t oe e i i f t b e do c i br ee n c ls s ho l t a b e i hr s ufs sp soi )e rtm c 1 e ( eb b dp ny nsu oa i ues t r f m c yno e l s i p s e a pdt b e e a at ue td oi f s t e nh emh i c l d t ou b ag t i s g n n dh i e i l e t e ed i r r w ebe e bsc f e d a e th r e o r p i nrs n na e lt o h l p i a pt t m a han o sh co i . l r c oCmn pc s o t p a ei i b a h t v d et c l en e dr e h a Aews Tr d t s i )n )e fh 5 6 uo n t ( ( -

,r ) t r y ys gf d d d n n s 4 n b e oa neean no e r n ( a e d i of e atn o a m e t g i n d n t t n m t t o t y i , r s n i o i a u p t l d ya i u met i s i m d i d c t t eit r n a e o . t i h i r n c e r b t l oi t r r e i f s e e a c d b p f e u o p hm r f h m s e a p d s t e — ru o t ae ha m b d t e n b m s t t h b r d n u t hAu r s s n u f t e s o r r t o i o o i n l A o s h i n l f a i o t i w y g f a r t r i t s r a o p g h nb d e e hi h n i e en r d c yg t t ea p s n e d t e a n i h e i a u s n r t t a i t n d m c o a s wc s r c s a a d m n i i u s a it hcn n nn y l re a r o yd c e p p c . i iu i i a c o t a l d p d o f t h ue ed e nc ; p p r e i s r o h e u s n m t j a e t b d g i or op i d newj b i t r s o i o w n n m d t l p i i o Ah e t l i j c r n a n m Ai r a a a d h t n d c n c o t r t l o o s e t h m b i e b s s i a o e oh he r t r se n e ; i e n u r e e y f c ,t e t e u c r s i ) d m c f t d r o hi nu l uo a b l 1 p e eo t o r i od l r e e ( s f g n i r l ) h o s t e y o s h l o t n a n 1 t e s f l a b b p t i hdp mlu ( e o r e u e o n t h o a s e o e ru i yc in y t h nr t a c s t t s ah de h y ai a d f o c e y t r A ) a oc c n p i e f nt em e ys o 1 i on tc o t mr g s o on ( bs c t gi on d a n e r s r b a i e t s n e e t h n b v rf e i p s npi el a v r re c d t e o ua u. t h e q e l d o i a c o i e hon u b s t o t v n erai e s d t d r e t s e c o e us c d t f r o n i b n i b e f p i i h l r h e sn e i i i uo t eo f r d sf t t a s i h o s j r p u o t i d ynl u s o e . t d c n a e yr c n p l j o r b e o n c n o e d p h e b a e f i i c oo du ep u s adao t h s v s pu n t r e n r s m e c dn l g o t ntAo r s b al un r y u r eo r os r ye e ae r e — e d m i yo yt i e i n w cb ld eb o hfo t t l ; bs i asy i l d g o f c f a t d v a e a n p e o r a a e t e e i n n n y mr e c e da h c pi o o . i s t goi hh r r sl i i e ug t t i n an t s lat do uf t nn t l r v dm e m n bp p n a n i y n l oao a i n i o o i r pnde t ar n i h t . ot epc ao a rt ip as e i o o i a a a v d t t i c f s p o o f l gs i d ) r m t a l t m a s e s y t f i 1 e r e na eep ey l a eun l seu c r d a n o p r i ( h r e e i r h h h h c i oi i j a m a c l e . o f d c a i c r c t t t rnn n s i t p nds l s r t i a t el c e u o p c pno k pt Ahao ih ) ) ) ) ) h n s t d r i i i aa de t pat cn pe e eo ) gt a d ( i n ( ( e c r ( ( r a a a e 1 t u r h e h i t m b e o h ( t c c c n st hn hl rrl d s We i i a Tl Ta Ta l A t Au e i e o c p p i b r tp h vs )w )t )o )u )e )h i pi 2 3 4 5 6 7 n na d n ( o oi a ( ga s ( s ( ( ( i 8 5

Application by creditor to initiate insolvency resolution process. 95.

a b

t ne b ot a e i t d d a ce y i h n l t p a pn f — a o o 5 et t 9 h c tc e e n f f p o o f i s t ee e c t e r e a v s n da d i r eh n g o h a o n ; 4 tt i d 9 n d e e — ny n os e a e o c a d p e i t d o t nc s i c gn n e l r e m l ne a e a s i ; p d hn r m ee s e o m eb d odi t c ce u n l na i ov la r u a c o ra i ph d hsl t p t a e sb ro p r l t i mea o od f s udh m ne i i o ec - i r n o hu m tm c t e t o a s i ae i l r f t l r e d l a a o t a c o e n o n g i m l i b t e o p l ni e ll p s m h y o a s a r ii nh ti t a n e m g s a a t l n d n e i ) a r n i r u ( e nn f d h ai o W ) ) ) ( ( 1 (

8 5

Interim-moratorium. 96. a

o t s r o t n a r a u g l a n o s r e p o t e t a l e r y e h t s a r a f o s n i 9 1 0 2 2 1 1 m o r f t c es . f f r e o t hb t e i wd e dt ea cr r o op f r n o Ec . 8 5

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

l sa r rm a o i o r c i n sn mf n o a e i on t mh i c t i t i f a c rf ay e l o s t a n n n s g i r aa e l ee r h t n ht t y i t n hw ,r a a c m p un e re si o t i a f t h i o t a at t i t n l ol l y i u t a l s t. n p t o t n s po on b ne ac i t i ld a a l tn l a o i hy eg nt sn ra e n l ra nt l e a of ia e t h m o dr b e s t n ec a p r ) de mo 1 e ( l v ep o hs nl a n e e t . G h o r e n fn i l bso t o ) a c i i s t 1 r ss et a ( a r s g h n c on ni be t l o i n i p uC i d d o t p s ee i c e r e tea fh c c ase o t c h i eo l y b s t hr p b u n p t . f ps o r d a o i o ) r s e t i eee i a t f ( v hda l oi tu t n g eud roe p n e r e mh eer hut h r bo n i Wr Tyt o c os )t )ae 2 3 ms aa ( (

,gy . ro r el n nvy in e) ne e r a c 3 h n o o oe r m s od de ( a t i i i ni n s t t f ot n i n n in e ol s r c r u u f o ni i n s v u u o l o l l e s i e y l p o o r s si e s t o d f h c r y d s shi o e y c t c s o t t b o n n r e e i f a ; e i s n r t f l r a r e a u o r w i s d i a p b o o v s r o y l a d n e l d b e p s a n h B n r c o d o n — i t hro e eu o nyh n s t u a e s i t gan dr s o e n e o t h d s i r A r i uoe i ne e v ht u ne s t l l oBr t i r uh f s uno o g f d o t h r a o e e l o si yo s t nf n sy f he l e b v h e r i n n i b e a o t s u t r t e p i n w r o g r n e d a s dte i d o n n pe r t o ct ly ee i t ech e i h i c a t h i o eni t e l t l i n s t r d i a i a i ei t n r h h t s f f t r o o . i r c n ui r ti t t oh e u i i j sdal iw l n o sh i t l f i i s d t i f lha d m p u gwo s o u Ap 5ltn fn o l l s 5 r , a o o e i o o a A pn 9h mi e 9udp a f o s s p e y n r t r o rs g a rsi e t e rra p hh n o s r i e e oyf n h i o t i r oi o pt ra f i e h rs tno t e 4i yf co t es 4tBt t o r r a n h h 9o e bo 9oeu f t cr et oc do f r l r o n i h i u nhop f o o o ) n f d y t d t n t t d r s ou 2 t u o e p u y( i o oA n op nte i l t t j o n c b i t t s r g e n Ao o n ae c t d n n c c y l n s i m , u egt l a r i A o e eo i at o e e l s a i a i t i s n r d p o a t b d e m t e a h n i rt d s p ce r lt yl ah sc nc i tu e i e a e l e i o t a n a e a dal y r o s d d n c d e i p y t li s ni t t vu p o inmhi p b b a e v s r a j udps m pe a a u n s e u o o n d u d n y pr s i o r i nj ea h r nA e a e nsto a i i d p i t e oA m hg h u r s o crn h i e t u eh t s e s o i e t o o t e h t t e s h A d a h g t b efa i n i a t o f t h o g t w ch n n g , gu l ct o n n n. i i lo u o i n lt n tei l l . a rl sA la l p m nas ,t os pa i i p l d a s h s t i i a t d e r t h pa ge ,gt pf e s dn ht i sc a e an n n c a . c a f l n c c e ) . ) i d o e c e i i oee sa n s o d t r c o ei p 5 4 i t j d i n d s n i s i a r ( rd l t o h r hs e a r s a n e amc ue( u p p a t stg c u c rnp oe jmn lno e iip f ff o e o o d n o n d h a I o i r i sir o Bh Bm ) ) A m t t t u r e )o d i e s p ( c c h ( r j e t m g o 1 o e e h e r y e e p d c ( u t h n n c h h e o a i s s l u W A i A e T o d T dc Tc o v s r i b b o e e i s )e t )1 ) )r )l )u nr fe u 6 ho 2 3 4c ( 5 u as ep ( ct r ( ( ( (sl 9 5

a b

S. 98 1.109

Appointment of resolution professional. 97.

et y nyn o d r hn oao sa e A t i i mt e t n m f r u u e i e l o l l e h p e o o h c t i t h s, s a c p t e e dr l mf s i r p e i e o e ch cr ea rod e c f hl eo r r t u e n o tps e cm e f a r nam e hd he t eno h r t r t eh fa e nbf o h o w f ooo t B t e i s t t r d n d s e y n i n e n a h a e p i r ea dt f oi m o m o g nt eue a t m e e hqc e p c t y v a r i ot en e fsl cr i p s c e i o e r eeo r 7r ne s9 r h i i ,t f e ) h e e rnh 2 u t h r oo ( i t A t t i a w i n r t f g d e o c o o l ee n f i k l t i r a s s a y t c c y h r t a e as sm c eei r i ) d hdo y1 d b t nh t (. nu u i l e rut r na sj odu t d oon rA io ne ht reA t i t . on i c g deg u h s t es nhn t in b As i i o e i t ep wutd f b a o g dp n c nuo ,yte r l t i ead l l i s ia t r hlu p rp ao a t a n h e n c j e do shor end i i t i o d r n a d s A t u i e . u s r u s u l s A hs j e e a a l g n f o e h ogo n do Wf n s t A o B i i n r e t d )ooi i p r r s e t a e 1 t e s p h ( c e hane ye i c T h c l l T o f i p p t i o o d t )p )u pr r f 3 2 u p ap ( ao (j l

9 5

Replacement of resolution professional. 98.

o t s r o t n a r a u g l a n o s r e p o t e t a l e r y e h t s a r a f o s n i 9 1 0 2 2 1 1 m o r f t c es . f f r e o t hb t e i wd e dt ea cr r o op f r n o Ec . 9 5

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

1.110 S. 99

; l t -e. e r s s e d n l l w a c o b r r o a r a ho h n e n e ort a u n t i n a )e t t t n p o s o f ea o t ipc 3 ei l i s i a d ( a n t s rrs o a e s s eoan e e s r n m s g n l t e r i hf e dt e e o n t on p p f c f i n i i i h u i m o e o s t t o el l t e c u r r s c r c n a e r a ho u p e i e n p t sol ehp e p o f s s t , n e t o r n d o ) , p n i m r o n s o 1 b a r s f p mi i o i ( eri p s t u o t i m a o r l r e nht t u s u i a n r f o u s l f oti l n e r n o o o l f y i o n fd t i e o o r s d o s a l o e o t c i s i p e d r e t d u c s etra e r r o n a n c l n s s n r o e cod n un e o eo e t i s i h b f i e e d . l h a s t l e t d o p ds t umt e s a u r s r r o o t r sef p d e l p t a dn as f o aap n i n ncoo a o o s n o o s e h a i i a n p i n n t r e t B s dlgr o ; l a r s aBp i m o l s epnp i i w e i e e n e a t t s e w o t s nr n f i e h u h e h t c h i n o e o n i l t m e t r c a s t e i r o n o o t m t t o t r f e mu o y p o s i i f s n c er t t h n d e d n i e l oyeo h p a n nr r ar i t eo e ct h c— t ia o i f n s i t o v h i h yd sr w g r o e h t n i o e i t t t n noi e t r t g i i i u la u fl t l t a r ot hdw h n n wu y o i oag mt o cu A n s i a l i h e u n e s e h t i e i e o n s — m e v t n d g o h m d m s u r i u t tn . ) oAin e n o) e t t 5 i y d 7 i rgca A m a r n c e ( m h w t , e t ( e n pi ) i i t p an o a h dt te mc r r g4 n my i et i n s ( c o n o r i n p n a o u hc i oi g i i dt on wq ht i nn p ew o t a cd t ee n c u . a o p a i oiel l tc fe t . n d u v i j d e e e b d c t p a a e n i ar t l us g s As i hdn e sl c an t o na d ej r e n - l A e e l l e e s a cd g o a o b i l b g u p c i s f i i n pb h n e a u m ei At j nm o d s s u r o h i oy t d hs s r i s b t s a r s uei m st t n e -a e e a i A j u p r o c r hef , e i f h f h o c e ) e r e t o o i st cm esy de n r c s6 j s poerm hrr rd or e e a(r dd of oa b n a y a o n u o o c t r r t tthpa np j u t )n ou u ywnp e o n e i d 1 ) ) ) ) B l l i op lo h r n o d ( t Ae a t ie e(p i hp o ( i c ( ( r e t t e hnc t c neu hi ianu t e o s o ha s l l OTc h Wii Wyi o o Tp l t d e s t b c sf s )e s r )ae )e )i )u o 6 e e 4 5 7 8r mfr d o ( sn ( sr ( ( ( -

. r s e y , k nto n s o g o t i aoh n e n ra e . u f i oo i a u m n r t pd p wo t b g a d l s s dpn ne i c t i i a f e n i epi d om o n l r r a h o d i i a r p o o t t o s a t r m sn pr i l u ; p to t e i i s e m c r r l i e a f d h s e o d o o e p o t e e e sb c r t f fm e r r f h n r l e b e f o t c e nom t e i r r e i s r t o t oy h h d g an h ed n pt i c t t c ae io he u e n ye n a i t u h be o h t ow s cdr y t , p t i i n m y n 5 t d l b n e e f t y e p u 9o o e a a i t d l i b c l ptr i c i t o o n r d no ai t v c d a fn se i oo o n h eh a e e i r nl t te r nrp r ht p e l u o c iu o a t n e e t n s em t i s bh ewA hoi y u y s d i t cd n, a a e ss eg e , r e i e r p a r n n n m e h r u mbi o c ht oic t de q r , n i ayt e l f n b t n e e a xaa o h o e c a e u o h i h emi n t v ct i d r c t t l d i o a do y e l l . e a i un a b nrs er f a p ce l o s h s a hsjo f p ip— n f t l i t e sadi o al f n r c g t p o A p a , le o e n n a t n t y p x o r a t i c erh t t ae r b nhei ; n m ai e e h l p t l c r o g r s os i t bt p i i o m e nt oen i n g d n a n p s u b t a i o s d h o n s a a n er ob s ei ,t e h e n r i o u e 5 t h c f o mi 9te hdf td a l i u ttl w c r o h c i e h a n y t e a rnot e o . n o m hb l t ot po xmo pf i s h e n wab e i e e o t r nt ft f k rme erf rr e f a o f o r c o ocr o o r n d o c f t o i e e i ao i i t dh eo e a ff n si s u l h e d i p u ct c d tn tt et ri l c pqe nn n e bic srrf o e o r me eu e n e u oeio e a r s4b c u j do d g dhs phq e e t c i f e 9 y r e i i n e r t ur s c v hah v h o urei o ensr t u r h y pf mt ea e a tt ho o n ei d t i e y i ehb e Tt ) ) ) r l r lb wi h p d a )cna e e tc o ( a i ( e 1 v l d ( hni hda ruye s ( ,o o e osah t a W v W i r r k m n F s p p e est e ) ep s )e )t n ea h ( 2 3 4s n st ma fu ( ( i i 0 6

Submission of report by resolution professional.

99.

o t s r o t n a r a u g l a n o s r e p o t e t a l e r y e h t s a r a f o s n i 9 1 0 2 2 1 1 m o r f t c es . f f r e o t hb t e i wd e dt ea cr r o op f r n o Ec . 0 6

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

S. 101 1.111

; t e nt h n n — 5 . p h m m s h ) oi a o 9 g t i 7 e t i e o o t t s a ( r r c c g c ca c f h o u o n e er e n e e t ar s i o s d r 4 s n d i r n e 9 f t t i b y b t n o r o a c uo a n i u f ee oa t t ss r s o m s epe m a i ry r e l r e t t n e a c c b b e e r mu s dd i a d h e l g ae a o n s b s . n i p , n ) c l t ) d n ue . e r u x4 i ee 4 6 t n tv ( i e m r r t ( 9 s . h a r t i o n y n rd o b n ge u ni n t p r o e on p uo oe us i os o o v i t on ir fu e i t t r b t ic t si lto st r g c e h c r l a h s e n s ei ea e. et o h s c s dit s h dh i s u o p s n ni s l e t p ab bn esrA ae tb ow n f u r i p e ui hle n n o t a g s y r dn sn tn a e o e y a o a r r toni i h p e m t o a ie nt t et i m e u h h aa i a d et a o h l s r t t d n a n t i rc d p ce s mn n e u i c s oi e xa s u i aa n r l d r n t f l q ep d i ol up b o u oo ec rx m e f a n v p nrej ci i oe t i e p a r nn oa f dd ea g i nr h r l x e io t c neA l e a t oo e h di a ls i l s t l o i e e l h h n a c l s t a i p t l de h s i t n i ot a ha a e f lf iu t hp s o , i mi h r f vo po slyy sa lo p s b o s l o rt s b a e at rr an es l i oa p n n f t a h i p n e o f m 1 e o o d o t n a i r n n o s 8 i t r r i h e i i o s a f s o t c pet o s r i o n n s i a mf s c e o ht fe nhco s j s t e t u n o on f i i i e e o, e f l l n t t o oh hi f a ao nr iIpc oi I t r h o t t s wc or u pr rpe rc r c ce p o s i a i l l e l p i t e r n mu o o t r j n e o n p pe ae sp os e e p p c r o n i h e o r rh h i at t d i a a n r o f i . t st u h t n r t i e et ma eC tu u nn l s u b o o a l h hy at h or e l p e b o t t s h x e t r o su u n e s r c ed ec eeto e q s f ) ) r e e d e n r g i c r e r lr t pl r e h a ( ( a enna e h t e ea i h t u c et T e h p f d d h hhh o i An Wtnl Te ) T t Tst r p c ep 0) a )f 6 )e 8 )t )c ) )4 7 9 1( 5 m (s ma a ( ( (o ( ( ( a b

. r res slV eg. n n d d l i e t a hr ne oon eoh I b a o f d i t t i i h r t t t dt c n i sa se t d y c u s e n t udd eia e l u)p j r n e o o s 1 e hm a o d a r i a s ( r t dm b t r t e c e i h f s ae u c l n s mr r i e a C e s ud s o , e s d e n oe a h r e i a r r te tc r bhoc pot fhc rs t i e t d o e y rs si dnd yten t s e i s h a e y n b n n e , t u r d e ae e m o f b a u d r s r u i dd o b u or a e eet nsr s n t nr, o s s d py o t e i e t a eo5 i r r i h a t t,b c en9 a e o l n m m t n e t a d e ar c o y r bin fi nd h c e i uso l o t e u o t t s s e u oa 4 pi a sshup yl f sh t p t r 9 a u c p o . p t s r a e n9 r e hd os r ,o n n i n k f t ceee 5p 9o h h i d e 9 r r o n t a ew r r ni oa aeto re i t s r s p oc w wi o b e e t f e e i dhad 4o ,t nt ha t s d l e , c i i m 9 l ob r sato v f5a e a n i i , 9 n s o o l s m hsi dt s f a o u r r a r e se o al n e i pto bsnl t h t r y o o yd i o a c t t l o i t s f e d 4 l i t i n e w p e r s a h e i o 9f s r a s t t our ori . he o t e n r n n r t h s d eo n hr e n i e t ot ofe t h o a o e y g o f o i i l u ri t pe utel thta t t y i d A c a Ae r t f np r t dt e icpn e e r i grn go t o s n h g n l h e h r t n o neo i t o p e n n s r t i t i h i s h i i t p t e t e i t m uwi t t t a m f a r u fa auc o c c co o quy Agto eu lt i i A i e r a o l g d e r d n i d n d h s d uop urnp noef ngt e e p i o n j e l s i j r r t e o r i t a i s a d r y d r a t t h c a s e c e a a c)f a e At Ai hh fa i cc e t t emh enot d1ed i i h hbt ho a u(rn ldl t p r e g a g t j n e u t un n Ts s , p noa j ey on doov a i )f d s o e h t ra i Aii p t v 1 i r e t s t e A c o i c r ( s a e o h r e hmu d s ec n t ee t j r i i t r hsi p h W e a f i l T f d o h I t r p ,er )bp o t ec )1 ) )y r 2 rr u i 4 e o 3s hf bp o ( cr (t ( aw ( 1 6

7 Admission or rejection of application. 100.

l tes l mc t e a ueas h f s i s fda r oeep t t h . b et yr a e v t e r i h d a i oh r l t r i o y mo wha n e t t a ae g u s n ,s f i A 0 i o r 0ange e t nn 1c v c i i e e nlgt l h p a e oa s i hbcc i t i e s h c s d r e yu w d n s a j i n , dd ra 4 g A e y 1 n dst e1 i nthh d n ubgt e e i o e et i ddet c; eeda c od t n h de re t t s a i py e ml r ldh a rt os daete d r od at nn — nn sn o nou d i e i r o te u oh on r nt b i a i ce oa a n e l e i op p a te lv ln i a t a t o crf m gh a n i e l n ce u l o i p o i l m i gt r pedp o n y t ac d opa ie i a a d enr p r heeee nm m t p h r o ee t e nmef e m pd h eo h o e ye t hc h nb fnt t a Wl lo on g o i a ds )h n ) 1 nsr i e s ( r ( eid u emr D hdo a t ) n 2 fa to a (

1 6

Moratorium. 101.

o t s r o t n a r a u g l a n o s r e p o t e t a l e r y e h t s a r a f o s n i 9 1 0 2 2 1 1 m o r f t c es . f f r e o t hb t e i wd e dt ea cr r o op f r n o Ec . 1 6

6 1 0 2 , E D O C Y C T P U R K N A B D N A Y C N E V L O S N I

1.112 S. 104

t s r eo es y g b d n n t n ai a yc i ma e d as f g o e ml na e e; e a c e si s t e n o a c oi a r br sn pe p n sr se a i l e a on p d a i h ho i t f g rt c l 6 e l t os ay l 9a s n r re na nh r e o s ah o) e bt i r n 1 t t t mn o ( i c i i h ul en t cw s ca c o u n i i a nc rt so e ei l c i f d a o t e , e t e g a t n ns t e y u l a b l l u ne p u y s eb ns pn o n r i i ao l r a o t a e t c s ad e o , c t t r i n ni n h l a e u i p l f g d t l t i p i a n sr n m n n h a a e l a i u s a e ; r tt i m g t h r n o b n e t o t o ne l r t i o ga t ld n e s n l c i r v a lh io. eo t hy l t r i sn a mm sG a r s ho i m i sf s l s def ha r h t t e oo r r a t e t t t f h os i ,t c n o rm t s e d e b e f ep ea dro sC n r i s d s r f c oe i s i e er eh oar s h hn hf noe it n v o a t t t i t oy. enr r ) ) r a r op pbo e i ( d ( t t ha a e eel h i l h We f u T i t t r g )n )o l 4 e l 3 nr ( ia ( b

ss e h r y r c ao a i t h di s w nd m ee r i r vc e a l el p c s a d l na p e n i s h a h m t w t ; ; i o y e s . m t wr y e n i f t o d r i es ri h r o a cm s o i l h h w e t u t i o t cr u u a h ; t nl n ar cc no A A o i w i i rt g g lg b t n e b l n a e t i n a vd ui — c t i n i i e pv t e l . e a a o c n s p an d c oh i i p i s m d ei u t s a d d l i u u u e e j c a nr s0 e 0 f l n d d s j ae c h o 1 i i l hh A A l t r f l n l s o g p a w e e a o i l n hi h n n g . h i e t st h o s t e o c t n t ye f f i a u ) t i t i s E t o 1 t s u s i m s o ( s r l s e i s ri oe ne e n d o e m s hd s t h o h o a e d b i t tt i s nc i t r rn u m u s u b e c n ea s a Aus e e d i e ; e r r grf s r hd w n p l neo - o te o t o b f d f i e e h i — at t rs u e or e e h t a y h s t e na t t ss coa r a b il t n r i e i d u n f d a d g l hd e o l ec i o l e d e ut t r h a d j i d n n s ur s s g h c l c e d a i e i o u e i s l n l x a t Ai c i y e t rb e e bn f a f est l c e ao h c ui a s hsn i i d p p p t t i t Tae t p o o ) ) ) n ) ) ) )f w n 1 t o ( ( ( ( ( ( e ( n e h h i T T h t ) ) i 2 3 w ( ( 2 6

Public notice and claims from creditors.

102.

s yr or bo rl a l s p a u n l no l c a i ot i t i hr s a s a s c rp e i o f n h t o i c ru d pm u es r nm c d oo i e n t c ha u t c l i n o , ) n so o 1 i e ( t r r a n t ec om he i r t t l c o he. e f r t fe s n i i wot t b l ua sye n mal so iwd ns e i a yr r l o c e b e t t p rss e , i dl e t m g a s ie rn i r a r g e l o ec r f i r e s o s r let l e hs sf a hto mo sfp ir ap sod l . r c se nd ol e i o e e t a i p hii b t t d s t e u ed r , o l r r c o t c e s se i ne egr n r u orp hi i t Tdo i ee hb )nc d e 1 h dty s ( oa g at u o nem I r ) ds i h ( 2v a t 2 6

Registering of claims by creditors.

103.

s r n i e o s d i . a t 2 n b c 0 u e e 1 s r h n o t b t o u n b i t o s e c s d n e i r s e o h t r d i t e e d d n y e n b o r i c u t d f n l e e o l a i n t f s o m n i i l t o s s a i s i t l e e . a f r e e c o a c i hi ; r l e p t t p e o en pb p r r n a y p o ae ea i l ph l hm t a et u t r h l f ne o po s s i l le a da s l e a n ec r h t s e e sa o i oh d h s l t le t s c a s y n e s h i f a d ot o , b i r n5 d sm p o9 e so i n r v er t o o i ff a o e i s t m4 c ry u p e r9 r l a o o n n d s f s o o n e y m i i i t r t t i u r c e a e i l he l h h o c s t t s T — e ) ) r n )f i 1 o ( h ( et ( hi Tw )1 ) 2 ( (

2 6

Preparation of list of creditors.

104.

o t s r o t n a r a u g l a n o s r e p o t e t a l e r y e h t s a r a f o s n i 9 1 0 2 2 1 1 m o r f t c es . f f r e o t hb t e i wd e dt ea cr r o op f r n o Ec . 2 6

Insolvency and Bankruptcy Law Manual with IBC Law Guide AUTHOR PUBLISHER DATE OF PUBLICATION EDITION ISBN NO NO. OF PAGES BINDING TYPE

: : : : : : :

TAXMANN’S EDITORIAL BOARD TAXMANN JANUARY 2024 18TH EDITION 9789357782302 1500 PAPERBACK

Rs. 2195 | USD 66

Description This book contains amended, updated & annotated text of the Insolvency and Bankruptcy Code 2016 (IBC). The coverage of this book includes: 

Insolvency and Bankruptcy Code 2016 (IBC) [as amended up to date]



10+ Relevant Rules



15+ Relevant Regulations



5+ Guidelines issued under the IBC



25+ Relevant Notifications issued under the IBC



55+ Relevant Circulars issued under the IBC



RBI (Prudential Framework for Resolution of Stressed Assets) Directions 2019

Along with the above, the readers also get a specially curated & comprehensive (100+ pages) guide/short commentary on the Insolvency & Bankruptcy Code. The Present Publication is the 18th Edition and has been amended upto 20th December 2023. This book is edited by Taxmann’s Editorial Board, with the following noteworthy features: 

[Taxmann’s series of Bestseller Books] on IBC



[Follows the six-sigma approach] to achieve the benchmark of ‘zero error.’



[Previous Amendments at a glance] made by the following:



Insolvency and Bankruptcy Code (Amendment) Act, 2021

Insolvency and Bankruptcy Code (Second Amendment) Act, 2020 & Insolvency and Bankruptcy Code (Amendment) Act, 2020

Insolvency and Bankruptcy Code (Amendment) Act, 2019

[Tables] showing enforcement of Provisions of the IBC

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