SC: Section 22 of Hindu Succession Act Preference For Class-I Heirs Applies to Agricultural Land  ||  Supreme Court: Refund Clause in Sale Agreement Does Not Extinguish Right to Specific Performance  ||  SC Clarifies When a Probate Application Filed After a Testator's Death is Time-Barred  ||  Madras HC: Coordinate Bench Cannot Reopen Issue Already Settled by Another Division Bench  ||  Delhi HC Urges Law to Regulate Media, Notes Anyone with a Mobile Phone Can Claim to be a Journalist  ||  CCI Rejects Allegations of Collusion Involving Reliance Jio and More Than 4,500 Entities  ||  Allahabad HC: Working Mother with Child Custody Cannot Shift Entire Maintenance Liability to Father  ||  Bombay HC: Possessory Suit U/S 6 of the SRA is Maintainable Despite a Licensor-Licensee Relationship  ||  Del HC: Master's Candidates Without the Prescribed Bachelor's Degree are Ineligible as Govt Teacher  ||  Cal HC: BSF Cannot Deny DIG Rank to an Officer Injured in 1995 Road Accident After Earlier Promotion    

Application under Rules 4, 6 or 7 of Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016- (Insolvency and Bankruptcy Board of India) (15 Jun 2022)

MANU/NMIC/0190/2022

Insolvency

1. It has been decided that henceforth, the Board will forward the application for initiating insolvency received by it in terms of rule 4, 6 or 7 of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016, to the Information Utility (IU) and on receipt of the said application, the IU shall:

(a) inform other creditors of the Corporate Debtor by sharing the application;

(b) issue notice to the applicant, requiring it to file 'information of default' in the specified format under Insolvency and Bankruptcy Board of India (Information Utility) Regulations, 2017(IU Regulations); and

(c) process the 'information of default' for the purpose of issuing ROD as per the IU Regulations.

2. This circular is issued in exercise of powers under section 196 of the Insolvency and Bankruptcy Code, 2016.

3. This Circular shall come into force with immediate effect.

Tags : APPLICATION   ADJUDICATION AUTHORITY   RULES  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved