valid as on 11/12/2018

1.2.3: Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.

3. Definitions.—

(1) In these Rules, unless the context otherwise requires,-

(a) “Code” means the Insolvency and Bankruptcy Code, 2016 (31 of 2016);

(b) “corporate insolvency resolution process” means the insolvency resolution process for corporate persons under Chapter II of Part II of the Code;

(c) “credit information company” shall have the meaning as assigned to it under the Credit Information Companies (Regulation) Act, 2005 (30 of 2005);

(d) “financial contract” means a contract between a corporate debtor and a financial creditor setting out the terms of the financial debt, including the tenure of the debt, interest payable and date of repayment;

(e) “Form” means a Form appended to these rules;

(f) “identification number” means the limited liability partnership identification number or the corporate identity number, as the case may be, of the corporate person;

(g) “Schedule” means the Schedule appended to these rules.

(2) All the words and expressions used herein and not defined shall have the meanings respectively assigned to them under the Code.


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