# The Insolvency and Bankruptcy Code, 2016, Section 121: Application for bankruptcy

- Act: The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016)
- Ministry: Ministry of Corporate Affairs
- Source URL: https://indiacode.ecourtsindia.com/insolvency-bankruptcy-code-2016/section/121/

## Text

(1) An application for bankruptcy of a debtor may be made, by a creditor individually or jointly with other creditors or by a debtor, to the Adjudicating Authority in the following circumstances, namely;— (a) where an order has been passed by an Adjudicating Authority under sub-section 4 of section 100; or (b) where an order has been passed by an Adjudicating Authority under sub-section 2 of section 115; or (c) where an order has been passed by an Adjudicating Authority under sub-section 3 of section 118. (2) An application for bankruptcy shall be filed within a period of three months of the date of the order passed by the Adjudicating Authority under the sections referred to in sub-section (1). (3) Where the debtor is a firm, the application under sub-section (1) may be filed by any of its partners.

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