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made by Insolvency and Bankruptcy Code (Amendment) Act, 2021 at a
DIVISION ONE
Text of Insolvency and Bankruptcy Code, 2016 as amended by Insolvency and Bankruptcy Code (Amendment) Act, 2021
DIVISION
TWO RULES AND REGULATIONS
Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016
Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 2.250
Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019
Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019
Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019
Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 2.341
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019
Insolvency and Bankruptcy (Pre-packaged Insolvency Resolution Process) Rules, 2021
Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021
DIVISION THREE
RBI (PRUDENTIAL FRAMEWORK FOR RESOLUTION OF STRESSED ASSETS) DIRECTIONS, 2019
Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019
INSOLVENCY AND BANKRUPTCY
CODE, 2016* [31 OF 2016]
[AS AMENDED BY INSOLVENCY & BANKRUPTCY CODE (AMENDMENT) ACT, 2021]
An Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto.
PART I
PRELIMINARY
Short title, extent and commencement. 1. Provided Application. 2.
INSOLVENCY RESOLUTION AND LIQUIDATION FOR CORPORATE PERSONS
CHAPTER I PRELIMINARY
Application of this Part.
4.
Provided
[Provided further that the Central Government may, by notification , specify such minimum amount of default of higher value, which shall not be more than one crore rupees, for matters relating to the pre-packaged insolvency resolution process of corporate debtors under Chapter III-A.]
Definitions. 5.
[( ) “base resolution plan” means a resolution plan provided by the corporate debtor under clause ( ) of sub-section (4) of section 54A;]
Notification No. S.O. 1205(E), dated 24-3-2020 : 4-4-2021
Notification No. S.O. 1543(E), dated 9-4-2021 :
[or the pre-packaged insolvency resolution process, as the case may be,]
[or pre-packaged insolvency resolution process, as the case may be]
( ) “pre-packaged insolvency commencement date” means the date of admission of an application for initiating the pre-packaged insolvency resolution process by the Adjudicating Authority under clause ( ) of sub-section (4) of section 54C;
( ) “pre-packaged insolvency resolution process costs” means—
( ) the amount of any interim finance and the costs incurred in raising such finance;
( ) the fees payable to any person acting as a resolution professional and any expenses incurred by him for conducting the pre-packaged insolvency resolution process during the pre-packaged insolvency resolution process period, subject to sub-section (6) of section 54F;
( ) any costs incurred by the resolution professional in running the business of the corporate debtor as a going concern pursuant to an order under sub-section (2) of section 54J;
( ) any costs incurred at the expense of the Government to facilitate the pre-packaged insolvency resolution process; and
( ) any other costs as may be specified;
( ) “pre-packaged insolvency resolution process period” means the period beginning from the pre-packaged insolvency commencement date and ending on the date on which an order under sub-section (1) of section 54L, or sub-section (1) of section 54N, or sub-section (2) of section 54-O, as the case may be, is passed by the Adjudicating Authority;]
Explanation.—
a i ii iii iv v vi vii
viii ix x xi
xii
xiii
xiv xv xvi
xvii
xviii xix b
[or pursuant to section 54K, as the case may be]
[or the pre-packaged insolvency resolution process, as the case may be,]
CHAPTER II
CORPORATE INSOLVENCY RESOLUTION PROCESS
Persons who may initiate corporate insolvency resolution process.
Insolvency and Bankruptcy Code 2016 with Rules – POCKET Bare Act
AUTHOR : Taxmann’s Editorial Board
PUBLISHER : Taxmann
DATE OF PUBLICATION : December 2025
EDITION : 8th Edition | 2026
ISBN NO : 9789371261296
No. of Pages : 760
BINDING TYPE : Paperback
Rs. 545
DESCRIPTION
Insolvency and Bankruptcy Code 2016 with Rules [POCKET | Bare Act] by Taxmann is a compact and authoritative statutory compilation of India’s consolidated insolvency and bankruptcy framework applicable to corporate persons, partnership firms, and individuals. The publication reproduces the complete and amended text of the IBC together with the allied Rules notified thereunder. Despite its pocket-sized format, the book provides a clear and structured understanding of the legal regime governing insolvency resolution, liquidation, and bankruptcy in India. Updated for the 2026 Edition, this Pocket Bare Act serves as a reliable and portable statutory reference on the operation and application of insolvency law.
This book is intended for the following audience:
• Practising Advocates & Insolvency Professionals
• Chartered Accountants, Company Secretaries & Cost Accountants
• Judges, Judicial Officers & Legal Researchers
• Law Students & Academicians
• Corporate Executives & Compliance Teams
The Present Publication is the 2026 Edition, covering the amended and updated text of the Insolvency and Bankruptcy Code [Act No. 31 of 2016] and Rules, with the following noteworthy features:
• [Complete Statutory Text] Presents the full and updated text of the Insolvency and Bankruptcy Code 2016, along with the relevant Rules
• [Pocket Edition Format] Compact, lightweight, and easy to carry, making it ideal for courtroom use, examinations, and on-the-go reference
• [Amendment Footnotes] Enables tracking of statutory changes and understanding the evolution of the insolvency framework
• [Institutional & Procedural Coverage] Covers provisions relating to insolvency professionals, information utilities, adjudicating authorities, appellate mechanisms, offences, and penalties
• [User-friendly Navigation] Clear section numbering and logical sequencing for quick and accurate access to provisions