Section 57 of Insolvency and Bankruptcy Code, 2016 (IBC): Manner of initiating fast track corporate insolvency resolution process

The Insolvency and Bankruptcy Code, 2016

Part-II Insolvency Resolution and Liquidation for Corporate Persons

Chapter-IV Fast Track Corporate Insolvency Resolution Process

Section 57: Manner of initiating fast track corporate insolvency resolution process.

^*57. An application for fast track corporate insolvency resolution process may be filed by a creditor or corporate debtor as the case may be, alongwith—

(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. Manner of initiating fast track corporate insolvency resolution process.

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Reference

*Effective from 14.06.2017.