valid as on 23/06/2024

2.17.9. Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019

9. Early completion of administration.

At the time of the preparation of the preliminary report or any time thereafter, if it appears to the bankruptcy trustee that –

(a) the realisable assets of the bankrupt are insufficient to cover the costs of bankruptcy process; and

(b) the affairs of the bankrupt do not require further investigation, he may apply to the Adjudicating Authority for an early discharge order.

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