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Insolvency and Bankruptcy Code, 2016

Section 130: Public notice inviting claims from creditors

Chapter IV — Bankruptcy Order for Individuals and Partnership Firms

(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

(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 others 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.

Source: official text of the Insolvency and Bankruptcy Code, 2016.