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Insolvency and Bankruptcy Code, 2016 · Professional Corpus

Insolvency and Bankruptcy Code, 2016 — Professional Corpus

A chapter-by-chapter decode of the Insolvency and Bankruptcy Code, 2016 — Corporate Insolvency Resolution Process, liquidation, avoidance transactions, personal guarantor insolvency, cross-border insolvency status — the key IBBI Regulations issued under it, and practical masters for creditor-route selection, resolution-plan evaluation, the SARFAESI/company-law interface and compliance calendars.

6 chapters7 regulations6 practice mastersReviewed through 2026-07-18
How this corpus works: Chapters map the Code itself (Parts I-V: preliminary, CIRP, liquidation, avoidance transactions, personal guarantors, cross-border/miscellaneous). Regulations decode the specific IBBI rulebooks issued for each process (CIRP, liquidation, voluntary liquidation, insolvency professionals, fast-track, pre-packaged/MSME, information utilities). Practice Masters answer cross-cutting practical questions (which route to trigger, how a resolution plan is evaluated, how IBC interacts with SARFAESI/company law, personal-guarantor sequencing, compliance calendar, and a living case-law register). This is a structured Finin2min synthesis, not a verbatim reproduction of the official Code/Regulations text — always confirm exact current wording and thresholds against the official source before relying on a position. See also the companion IBC — Resolution, Liquidation and Creditor Strategy Hub for practical templates, checklists and case notes.

Insolvency and Bankruptcy Code, 2016 — chapter-by-chapter

Part I — PreliminaryExtent, application and the key definitions that determine who and what the Code covers.Part II, Chapter II — Corporate Insolvency Resolution Process (CIRP)How CIRP is triggered, the moratorium, the Committee of Creditors, and the 330-day resolution timeline.Part II, Chapter III — Liquidation ProcessWhen liquidation replaces resolution, the liquidator's powers, and the Section 53 waterfall.Part II, Chapter III — Avoidance and Fraudulent TransactionsPreferential, undervalued, extortionate and fraudulent transactions the RP/liquidator can claw back.Part III — Insolvency Resolution for Personal Guarantors to Corporate DebtorsThe only operational segment of individual insolvency under the Code so far — personal guarantors, following the Supreme Court's 2021 validation.Part V — Cross-Border Insolvency and MiscellaneousThe current (non-UNCITRAL) status of cross-border insolvency recognition and other Part V provisions.

Key IBBI Regulations

IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016The operating rulebook for CIRP — claim submission, information memorandum, resolution plan process and CoC meeting conduct.IBBI (Liquidation Process) Regulations, 2016Asset sale methods, stakeholder consultation committee and the liquidator's reporting discipline.IBBI (Voluntary Liquidation Process) Regulations, 2017Solvency declaration, member approval and the faster timeline for a solvent company choosing to wind up.IBBI (Insolvency Professionals) Regulations, 2016Registration, code of conduct and disciplinary framework for Resolution Professionals and Liquidators.Fast Track Corporate Insolvency Resolution Process (Rules, 2017)A compressed 90-day CIRP for smaller/simpler corporate debtors meeting specified eligibility criteria.Pre-Packaged Insolvency Resolution Process (PPIRP) — MSME RouteThe 2021-introduced debtor-in-possession, informal-negotiation-first insolvency route for MSMEs.IBBI (Information Utilities) Regulations, 2017How registered Information Utilities authenticate and store financial-debt records used as default evidence in CIRP filings.

Practice masters

Creditor Route Selection MasterChoosing the right trigger — Section 7 (financial creditor), Section 9 (operational creditor) or Section 10 (corporate debtor itself) — and the procedural differences between them.Resolution Plan Evaluation MasterWhat a compliant resolution plan must contain, and the practical evaluation criteria a CoC applies.IBC–SARFAESI–Company Law Interface MasterHow CIRP's moratorium interacts with SARFAESI enforcement, DRT recovery proceedings and Companies Act winding-up.Personal Guarantor Practice MasterPractical sequencing when a personal guarantee sits alongside a corporate debtor's CIRP or resolution plan.CIRP and Liquidation Compliance Calendar MasterThe recurring statutory/regulatory timelines an IRP, RP or liquidator must track through a live assignment.Case-Law and Precedent RegisterThe landmark Supreme Court/NCLAT rulings that have shaped how the Code's provisions are actually applied.