Section 77A
Punishment for offences related to pre-packaged insolvency resolution process.
77A. Punishment for offences related to pre-packaged insolvency resolution process.
CHAPTER V
VOLUNTARY LIQUIDATION OF CORPORATE PERSONS
SECTIONS
Application.
Definitions.
PART III
INSOLVENCY RESOLUTION AND BANKRUPTCY FOR INDIVIDUALS AND PARTNERSHIP FIRMS
CHAPTER I
PRELIMINARY
CHAPTER II
FRESH START PROCESS
Eligibility for making an application.
Application for fresh start order.
Appointment of resolution professional.
Examination of application by resolution professional.
Admission or rejection of application by Adjudicating Authority.
Effect of admission of application.
Objections by creditor and their examination by resolution professional.
Application against decision of resolution professional.
General duties of debtor.
Replacement of resolution professional.
Directions for compliances of restrictions, etc.
Revocation of order admitting application.
Discharge order.
Standard of conduct.
CHAPTER III
INSOLVENCY RESOLUTION PROCESS
Application by debtor to initiate insolvency resolution process.
Application by creditor to initiate insolvency resolution process.
Interim moratorium.
Appointment of resolution professional.
Replacement of resolution professional.
Submission of report by resolution professional .
SECTIONS
Admission or rejection of application.
Moratorium.
Public notice and claims from creditors.
Registering of claims by creditors.
Preparation of list of creditors.
Repayment plan.
Report of resolution professional on repayment plan.
Summoning of meeting of creditors.
Conduct of meeting of creditors.
Voting rights in meeting of creditors.
Rights of secured creditors in relation to repayment plan.
Approval of repayment plan by creditors.
Report of meeting of creditors on repayment plan.
Notice of decisions taken at meeting of creditors.
Order of Adjudicating Authority on repayment plan.
Effect of order of Adjudicating Authority on repayment plan.
Implementation and supervision of repayment plan.
Completion of repayment plan.
Repayment plan coming to end prematurely.
Discharge order.
Standard of conduct.
CHAPTER IV
BANKRUPTCY ORDER FOR INDIVIDUALS AND PARTNERSHIP FIRMS
Application for bankruptcy .
Application by debtor.
Application by creditor.
Effect of application.
Appointment of insolvency professional as bankruptcy trustee.
Bankruptcy order.
SECTIONS
Validity of bankruptcy order.
Effect of bankruptcy order.
Statement of financial position.
Public notice inviting claims from creditors.
Registration of claims.
Preparation of list of creditors.
Summoning of meeting of creditors.
Conduct of meeting of creditors.
Voting rights of creditors.
Administration and distribution of estate of bankruptcy.
Completion of administration.
Discharge order.
Effect of discharge.
Disqualification of bankrupt.
Restrictions on bankrupt.
Modification or recall of bankruptcy order.
Standard of conduct.
Fees of bankruptcy trustee .
Replacement of bankruptcy trustee .
Resignation by bankruptcy trustee.
Vacancy in office of bankruptcy trustee.
Release of bankruptcy trustee.
CHAPTER V
ADMINISTRATION AND DISTRIBUTION OF THE ESTATE OF THE BANKRUPT
Functions of bankruptcy trustee.
Duties of bankrupt towards bankruptcy trustee.
Rights of bankruptcy trustee.
General powers of bankruptcy trustee.
Approval of creditors for certain acts.
Vesting of estate of bankrupt in bankruptcy trustee.
SECTIONS
Estate of bankrupt.
Delivery of property and documents to bankruptcy trustee.
Acquisition of control by bankruptcy trustee.
Restrictions on disposition of property.
After -acquired property of bankrupt.
Onerous property of bankrupt.
Notice to disclaim onerous property.
Disclaimer of leaseholds.
Challenge against disclaimed property.
Undervalued transactions.
Preference transactions.
Effect of order .
Extortionate credit transactions .
Obligations under contracts .
Continuance of proceedings on death of bankrupt .
Administration of estate of deceased bankrupt .
Proof of debt .
Proof of debt by secured creditors .
Mutual credit and set -off. f.
Distribution of interim dividend .
Distribution of property .
Final dividend .
Claims of creditors .
Priority of payment of debts .
CHAPTER VI
ADJUDICATING AUTHORITY FOR INDIVIDUALS AND PARTNERSHIP FIRMS
Adjudicating authority for individuals and partnership firms.
Civil court not to have jurisdiction .
Appeal to Debt Recovery Appellate Tribunal .
Appeal to Supreme Court.
SECTIONS
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