Section 107: Summoning of meeting of creditors

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The Insolvency and Bankruptcy Code, 2016

PART III
Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms

CHAPTER III
Bankruptcy Order for Individuals and Partnership Firms

Section 107: Summoning of meeting of creditors:

*107. (1) The resolution professional shall issue a notice calling the meeting of the creditors at least fourteen days before the date fixed for such meeting.

(2) The resolution professional shall send the notice of the meeting to the list of creditors prepared under section 104.

(3) The notice sent under sub-section (1) shall state the address of the Adjudicating Authority to which the repayment plan and report of the resolution professional on the repayment plan has been submitted and shall be accompanied by—

(a) a copy of the repayment plan;

(b) a copy of the statement of affairs of the debtor;

(c) a copy of the said report of the resolution professional; and

(d) forms for proxy voting.

(4) The proxy voting, including electronic proxy voting shall take place in such manner and form as may be specified.


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Notifications & Circulars

*Only in so far as they relate to personal guarantors to corporate debtors, shall come into force w.e.f. 01.12.2019.

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