Section 132: Preparation of list of creditors

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The Insolvency and Bankruptcy Code, 2016

PART III
Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms

CHAPTER IV
Bankruptcy Order for Individuals and Partnership Firms

Section 132: Preparation of list of creditors:

*132. The bankruptcy trustee shall, within fourteen days from the bankruptcy commencement date, prepare a list of creditors of the bankrupt on the basis of-

(a) the information disclosed by the bankrupt in the application for bankruptcy filed by the bankrupt under section 118 and the statement of affairs filed under section 125; and

(b) claims received by the bankruptcy trustee under sub-section (2) of section 130.


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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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