Quick Navigation
Section 57 - Insolvency and Bankruptcy Code Act, 2016
57. Manner of initiating fast track corporate insolvency resolution process.-
An application for fast track corporate insolvency resolution process may be filed by a creditor or corporate debtor as the case may be, along with-
(a) the proof of the existence of default as evidenced by records available with an information utility or such other means as may be specified by the Board; and
(b) such other information as may be specified by the Board to establish that the corporate debtor is eligible for fast track corporate insolvency resolution process.
Related Sections
- Section 12: Time-limit for completion of insolvency resolution process
- Section 108: Conduct of meeting of creditors
- Section 132: Preparation of list of creditors
- Section 76: Punishment for non-disclosure of dispute or payment of debt by operational credito
- Section 52: Secured creditor in liquidation proceedings
Related Acts
* Only for reference.