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Section 121: Application for bankruptcy.

The Insolvency and Bankruptcy Code, 2016.Central Act · Act 31 of 2016

(1) An application for bankruptcy of a debtor may be made, by a creditor individually or jointly with other creditors or by a debtor, to the Adjudicating Authority in the following circumstances, namely;—

(a) where an order has been passed by an Adjudicating Authority under sub-section 4 of section 100; or

(b) where an order has been passed by an Adjudicating Authority under sub-section 2 of section 115; or

(c) where an order has been passed by an Adjudicating Authority under sub-section 3 of section 118.

(2) An application for bankruptcy shall be filed within a period of three months of the date of the order passed by the Adjudicating Authority under the sections referred to in sub-section (1).

(3) Where the debtor is a firm, the application under sub-section (1) may be filed by any of its partners.

Where this provision sits

ActThe Insolvency and Bankruptcy Code, 2016.
Section121
Marginal noteApplication for bankruptcy.
JurisdictionCentral
StatusIn force as published by the source

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