IBC 138 — Discharge order

Insolvency & Bankruptcy Code, 2016

Statutory text

(1)  The  bankruptcy  trustee  shall  apply  to  the  Adjudicating  Authority  for  a discharge order—
(a) on the expiry of one year from the bankruptcy commencement date; or (b)  within  seven  days  of  the  approval  of  the  committee  of  creditors  of  the  completion  of administration of the estates of the bankrupt under section 137, where such approval is obtained prior to the period mentioned in clause (a).
(2)  The  Adjudicating  Authority  shall  pass  a  discharge  order  on  an  application  by  the  bankruptcy trustee under sub-section (1).
(3) A copy of the discharge order shall be provided to the Board for the purpose of recording an entry in the register referred to in section 196.

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