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Chapter III Insolvency Resolution Process

Section 102. Public notice and claims from creditors. –

(1) The Adjudicating Authority shall issue a public notice within seven days of passing the order under section 100 inviting claims from all creditors within twenty- one days of such issue.

(2) The notice under sub-section (1) shall include–

  • (a) details of the order admitting the application;
  • (b) particulars of the resolution professional with whom the claims are to be registered; and
  • (c) the last date for submission of claims.

(3) The notice shall be –

  • (a) published in at least one English and one vernacular newspaper which is in circulation in the state where the debtor resides;
  • (b) affixed in the premises of the Adjudicating Authority; and
  • (c) placed on the website of the Adjudicating Authority.

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