Insolvency & Bankruptcy Code, 2016 As amended by the Insolvency and Bankruptcy Code (Amdt.) Act, 2021

This 2025 edition of The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016, dt. 28-5-2016) compiles the full, up-to-date text of India’s unified insolvency framework, integrating the Insolvency and Bankruptcy Code (Amendment) Act, 2021 (26 of 2021, dt. 12-8-2021, w.e.f. 4-4-2021) and all allied notifications to date. Issued as an unannotated Bare Act with only short comments and marginal headings, it is designed for speedy reference and authoritative citation.

The Code governs and streamlines:

• Corporate insolvency resolution (CIRP)—time-bound debtor-in-possession process, committee of creditors, information memorandum, and resolution plan approval

• Liquidation of corporate persons—waterfall of distributions, avoidance transactions, secured-creditor rights, and fast-track liquidation

• Insolvency of individuals and partnership firms—fresh-start, repayment, and bankruptcy adjudication mechanisms

• Pre-packaged insolvency for MSMEs, cross-border cooperation, and group-insolvency pilots

• Institutional architecture—role, powers, and oversight of NCLT/NCLAT, Debt Recovery Tribunals, Insolvency and Bankruptcy Board of India (IBBI), information utilities, and registered insolvency professionals

• Penalties, offences, and regulatory compliance to deter misconduct and safeguard stakeholder interests

Alongwith

• All IBBI Rules & Regulations (CIRP, Liquidation, Voluntary Liquidation, Fast-Track, Fresh-Start, Information Utilities, Insolvency Professionals/Agencies, Pre-Packaged Process, Grievance Mechanism, etc.) consolidated up to the latest Gazette notifications

• Schedules of model timelines, forms, and eligibility criteria for resolution applicants and insolvency professionals

This edition is indispensable for:

• Insolvency professionals (IP/IRP/RP) and resolution applicants preparing plans, conducting meetings, or managing distressed assets

• Bankers, asset-reconstruction companies, and NBFCs assessing recoveries, security enforcement, and inter-creditor arrangements

• Corporate counsel, audit firms, and turnaround strategists navigating CIRP, liquidation, or pre-pack scenarios

• Litigators and judges in NCLT/NCLAT, DRT/DRAT requiring an unaltered statutory reference

• LL.B., CS, CA, and AIBE candidates mastering insolvency jurisprudence for examinations

By providing the exact legislative language—free from commentary yet enriched with all subsidiary rules—this 2025 Bare Act delivers ultimate clarity, reliability, and completeness for courtroom citation, transaction structuring, and academic research.