Section 133: Summoning of meeting of creditors

The Insolvency and Bankruptcy Code, 2016

PART III Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms

CHAPTER IV Bankruptcy Order for Individuals and Partnership Firms

Section 133: Summoning of meeting of creditors:

^*133. (1) The bankruptcy trustee shall, within twenty-one days from the bankruptcy commencement date, issue a notice for calling a meeting of the creditors, to every creditor of the bankrupt as mentioned in the list prepared under section 132.

(2) The notices issued under sub-section (1) shall—

(a) state the date of the meeting of the creditors, which shall not be later than twenty-one days from the bankruptcy commencement date;

(b) be accompanied with forms of proxy voting;

(c) specify the form and manner in which the proxy voting may take place.

(3) The proxy voting, including electronic proxy voting shall take place in such manner and form as may be specified.

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Notifications & Circulars

*Only in so far as they relate to personal guarantors to corporate debtors, shall come into force w.e.f. 01.12.2019.