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Section 126 : Bankruptcy order

(1) The Adjudicating Authority shall pass a bankruptcy order within fourteen days of receiving the confirmation or nomination of the bankruptcy trustee under section 125.

(2) The Adjudicating Authority shall provide the following documents to bankrupt, creditors and the bankruptcy trustee within seven days of the passing of the bankruptcy order, namely:-

(a) a copy of the application for bankruptcy; and

(b) a copy of the bankruptcy order

 

Insolvency and Bankruptcy Code 2016

CHAPTER IV BANKRUPTCY ORDER FOR INDIVIDUALS AND PARTNERSHIP FIRMS

Section 121 Application for bankruptcy individuals partnerships

Section 122 Application by debtor

Section 123 Application by creditor

Section 124 Effect of application

Section 125 Appointment of insolvency professional as bankruptcy trustee

Section 126 Bankruptcy order

Section 127 Validity of bankruptcy order

Section 128 Effect of bankruptcy order

Section 129 Statement of financial position

Section 130 Public notice inviting claims from creditors

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