IBC 130 — Public notice inviting claims from creditors

Insolvency & Bankruptcy Code, 2016

Statutory text

(1) The Adjudicating Authority shall—
(a)  send  notices  within  ten  days  of  the  bankruptcy  commencement  date,  to  the  creditors mentioned in—
(i) the statement of affairs submitted by the bankrupt under section 129; or (ii) the application for bankruptcy submitted by the bankrupt under section 122.
(b) issue a public notice inviting claims from creditors.
(2)  The  public  notice  under  clause  (b)  of  sub-section  (1)  shall  include  the  last  date  up  to  which  the claims shall be submitted and such other matters and details as may be prescribed and shall be—
(a)  published  in  leading  newspapers,  one  in  English  and  another  in  vernacular  having  sufficient circulation where the bankrupt resides;
(b) affixed on the premises of the Adjudicating Authority; and (c) placed on the website of the Adjudicating Authority.
(3)  The  notice  to  the  creditors  referred  to  under  clause  (a)  of  sub-section  (1)  shall  include  such matters and details as may be prescribed.

Back to IBC