FIR online. Legal formats Download. file complaints online

Section 224 : Insolvency and Bankruptcy Fund

(1) There shall be formed a Fund to be called the Insolvency and Bankruptcy Fund (hereafter in this section referred to as the "Fund") for the purposes of insolvency resolution, liquidation and bankruptcy of persons under the Code.

(2) There shall be credited to the Fund the following amounts, namely-

(a) the grants made by the Central Government for the purposes of the Fund;

(b) the amount deposited by persons as contribution to the Fund;

(c) the amount received in the Fund from any other source; and

(d) the interest or other income received out of the investment made from the Fund.

(3) A person who has contributed any amount to the Fund may, in the event of proceedings initiated in respect of such person under this Code before an Adjudicating Authority, make an application to such Adjudicating Authority for withdrawal of funds not exceeding the amount contributed by it, for making payments to workmen, protecting the assets of such persons, meeting the incidental costs during the proceedings or such other purposes as may be prescribed.

(4) The Central Government shall, by notification, appoint an administrator to administer the fund in such manner as may be prescribed.


About Us

Privacy Policy



Contact Us

Lodge cyber complaint online

Cyber Cell contact no, e-mail ID

Ration Card application form

Character Certificate format

Application online with RTO

Tenant Verification Online

Anticipatory Bail Application Format

TDS on Sale of Property No. 26QB

Maintenance petition 125 of CrPC

Cheque return Complaint format

Mutual Consent Divorce Petition

Private Trust Deed format

Traffic fine rate MV Act 2019

Check Traffic Challan and pay fine

Pay Taxes online through ePayment

Register Death online in all States

GST pay online, make payment

Register Child birth online

2023 (c) All Rights Reserved