Initiation of corporate insolvency resolution process by corporate applicant
Section 10 of the Insolvency and Bankruptcy Code, 2016 deals with initiation of corporate insolvency resolution process by corporate applicant. Where a corporate debtor has committed a default, a corporate applicant thereof may file an application for initiating corporate insolvency resolution process with the Adjudicating Authority. The Act was enacted on 28 May 2016.
(1) Where a corporate debtor has committed a default, a corporate applicant thereof may file an application for initiating corporate insolvency resolution process with the Adjudicating Authority.
(2) The application under sub-section (1) shall be filed in such form, containing such particulars and in such manner and accompanied with such fee as may be prescribed.
1 [(3) The corporate applicant shall, along with the application furnish the information relating to--
(a) its books of account and such other documents relating to such period as may be specified; and
(b) the resolution professional proposed to be appointed as an interim resolution professional.
(c) the special resolution passed by shareholders of the corporate debtor or the resolution passed by at least three-fourth of the total number of partners of the corporate debtor, as the case may be, approving filing of the application.]
(4) The Adjudicating Authority shall, within a period of fourteen days of the receipt of the application, by an order--
(a) admit the application, if it is complete; 2[and no disciplinary proceeding is pending against the proposed resolution professional]; or
(b) reject the application, if it is incomplete: 2[or any disciplinary proceeding is pending against the proposed resolution professional:]
Provided that Adjudicating Authority shall, before rejecting an application, give a notice to the applicant to rectify the defects in his application within seven days from the date of receipt of such notice from the Adjudicating Authority.
(5) The corporate insolvency resolution process shall commence from the date of admission of the application under sub-section (4) of this section.
Section 10, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 17
- Finance Act s. 37 Amendment of section 115JB
- Finance Act s. 45 Amendment of section 140
- Finance Act, 2019 (No. 2) s. 34 Amendment of section 115JB
- Income-tax Act s. 115JB Special provision for payment of tax by certain companies
- Income-tax Act s. 140 Return by whom to be verified
- Income-tax Act s. 206 Special provision for minimum alternate tax and alternate minimum tax
- Income-tax Act s. 265 Return by whom to be verified
- s. 5 Definitions
- s. 10A Suspension of initiation of corporate insolvency resolution process
- s. 11A Disposal of applications under section 54C and under section 7 or section 9 or section 10
- s. 12A Withdrawal of application admitted under section 7, 9 or 10
- s. 13 Declaration of moratorium and public announcement
and 5 more
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
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Swiss Ribbons Pvt. Ltd. v. Union of India
Court's Decision & Legal Precedent
The Insolvency and Bankruptcy Code, 2016 withstands Article 14 challenge. Classification of financial versus operational creditors, the committee-of-creditors voting structure, and section 29A ineligibility are not manifestly arbitrary. Economic legislation receives judicial hands-off within constitutional bounds.
On this section: IBC s.10: corporate applicant may initiate CIRP; Swiss Ribbons upholds the Code’s initiation architecture including s.10 voluntary initiation.
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
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… Withdrawal of Application admitted for corporate insolvency resolution process of [name of corporate debtor] I, [Name of applicant], had filed an application bearing [particulars of application, i.e, diary number/ case number] on [Date of filing] before the Adjudicating Authority under [Section 7 / Section 9/ Section 10] of the Insolvency and Bankruptcy Code, 2016. The said application was admitted by the Adjudicating Authority on [date] bearing [case] number]. 2. I hereby withdraw the application bearing [particulars of application, i.e, diary number/ case number] filed by me before the Adjudicating Authority under [Section 7 / …
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… Withdrawal of Application admitted for corporate insolvency resolution process of [name of corporate debtor] I, [Name of applicant], had filed an application bearing [particulars of application, i.e, diary number/ case number] on [Date of filing] before the Adjudicating Authority under [Section 7 / Section 9/ Section 10] of the Insolvency and Bankruptcy Code, 2016. The said application was admitted by the Adjudicating Authority on [date] bearing [case] number]. 2. I hereby withdraw the application bearing [particulars of application, i.e, diary number/ case number] filed by me before the Adjudicating Authority under [Section 7 / …
Made under this section, and citing it
4 instruments state that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
- The Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020Rule 2020
- The Insolvency and Bankruptcy (Application to Adjudicating Authority) Amendment Rules, 2019Rule 2019
- The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (upto 19-03-2019)Rule 2019
- Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016Rule 2016
Another 2 instruments name this provision in its title or its text without being made under it.
Questions about Section 10
What have the courts held on Section 10 of the Insolvency and Bankruptcy Code?
Swiss Ribbons Pvt. Ltd. v. Union of India (25 Jan 2019) is the leading judgment on this section among those set out below: IBC s.10: corporate applicant may initiate CIRP; Swiss Ribbons upholds the Code’s initiation architecture including s.10 voluntary initiation.
How do I find court cases under Section 10 of the Insolvency and Bankruptcy Code?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insolvency and Bankruptcy Code 10, section 10 Insolvency and Bankruptcy Code, section 10 of the Insolvency and Bankruptcy Code. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Swiss Ribbons Pvt. Ltd. v. Union of India (25 Jan 2019).
What should I read with Section 10 of the Insolvency and Bankruptcy Code, and has it changed?
17 other provisions in this corpus refer back to it. The rules and notifications made under it are where it actually bites, and there are 4: most recently The Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020 (2020), then The Insolvency and Bankruptcy (Application to Adjudicating Authority) Amendment Rules, 2019 (2019), and 2 more.
When was Section 10 of the Insolvency and Bankruptcy Code enacted?
Section 10 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 10, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.
Other sections of this Act
- 240. Power to make regulations2349 words
- 5. Definitions2326 words
- 3. Definitions1381 words
- 29A. Person not eligible to be resolution applicant1152 words
- 239. Power to make rules963 words
- 196. Powers and functions of Board942 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 14 Oct 2026. This page is not a substitute for legal advice.