Statement of financial position
Section 129 of the Insolvency and Bankruptcy Code, 2016 deals with statement of financial position. Where a bankruptcy order is passed on the application for bankruptcy by a creditor under section 123, the bankrupt shall submit his statement of financial position to the bankruptcy trustee within seven days from the bankruptcy commencement date. The Act was enacted on 28 May 2016.
(1) Where a bankruptcy order is passed on the application for bankruptcy by a creditor under section 123, the bankrupt shall submit his statement of financial position to the bankruptcy trustee within seven days from the bankruptcy commencement date.
(2) The statement of financial position shall be submitted in such form and manner as may be prescribed.
(3) Where the bankrupt is a firm, its partners on the date of the order shall submit a joint statement of financial position of the firm, and each partner of the firm shall submit a statement of his financial position.
(4) The bankruptcy trustee may require the bankrupt or any other person to submit in writing further information explaining or modifying any matter contained in the statement of financial position.
Section 129, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
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Questions about Section 129
What does Section 129 of the Insolvency and Bankruptcy Code deal with?
Section 129 of the Insolvency and Bankruptcy Code is headed "Statement of financial position". Where a bankruptcy order is passed on the application for bankruptcy by a creditor under section 123, the bankrupt shall submit his statement of financial position to the bankruptcy trustee within seven days from the bankruptcy commencement date.
How do I find court cases under Section 129 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 129, section 129 Insolvency and Bankruptcy Code, section 129 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.
What should I read with Section 129 of the Insolvency and Bankruptcy Code, and has it changed?
Its own text turns on section 123 (Application by creditor), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it. One instrument names it without being made under it, most recently Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019 dated 15.11.2019 (2019).
When was Section 129 of the Insolvency and Bankruptcy Code enacted?
Section 129 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 129, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.
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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 17 Oct 2026. This page is not a substitute for legal advice.