Liquidation Proceeding

Rule 10. Assets of third parties, etc.
— (1) For removal of doubts, it is clarified that the provisions of clause (b) of rule 5 and section 14 shall not apply…

Rule 9. Insolvency Professional.— (1) For the purpose of these rules, only an Administrator proposed by the appropriate regulator and appointed as such by the Adjudicating Authority shall act as…

Rule 8. Voluntary Liquidation Process.
— The provisions of the Code relating to voluntary liquidation process of the corporate debtor shall, mutatis mutandis apply, to the voluntary liquidation process of a…

Rule 7. Liquidation Process.— The provisions of the Code relating to the liquidation process of the corporate debtor shall, mutatis mutandis apply, to the liquidation process of a financial service…

Rule 6. Filing of application and application fee.— (1) Till such time the rules of procedure for conduct of proceedings under the Code are notified, the application made under clause…

Rule 5. Corporate Insolvency Resolution Process of financial service providers.— The provisions of the Code relating to the Corporate Insolvency Resolution Process of the corporate debtor shall, mutatis mutandis apply,…

Rule 4. General modifications.— For the purposes of these rules, in all the provisions relating to insolvency and liquidation proceedings under the Code,- (i) for the expression “corporate debtor” wherever…

Rule 3. Definitions.— (1) In these rules, unless the context otherwise requires,- (2) The words and expressions used and not defined in these rules but defined in the Code shall…

Rule 2. Application.— These rules shall apply to such financial service providers or categories of financial service providers, as may be notified by the Central Government under section 227, from…

Rule 1. Short title and commencement. — (1) These rules may be called the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority)…