Public announcement of corporate insolvency resolution process
Section 15 of the Insolvency and Bankruptcy Code, 2016 deals with public announcement of corporate insolvency resolution process. The public announcement of the corporate insolvency resolution process under the order referred to in section 13 shall contain the following information, namely:— (a) name and address of the corporate debtor under the corporate insolvency resolution process; The Act was enacted on 28 May 2016.
(1) The public announcement of the corporate insolvency resolution process under the order referred to in section 13 shall contain the following information, namely:—
(a) name and address of the corporate debtor under the corporate insolvency resolution process;
(b) name of the authority with which the corporate debtor is incorporated or registered;
(c) the last date for submission of 1 [claims, as may be specified] ;
(d) details of the interim resolution professional who shall be vested with the management of the corporate debtor and be responsible for receiving claims;
(e) penalties for false or misleading claims; and
(f) the date on which the corporate insolvency resolution process shall close, which shall be the one hundred and eightieth day from the date of the admission of the application under sections 7, 9 or section 10, as the case may be.
(2) The public announcement under this section shall be made in such manner as may be specified.
Section 15, 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.
This section refers to
- s. 7 Initiation of corporate insolvency resolution process by financial creditor
- s. 9 Application for initiation of corporate insolvency resolution process by operational creditor
- s. 10 Initiation of corporate insolvency resolution process by corporate applicant
- s. 13 Declaration of moratorium and public announcement
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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Raman Prakash Mangla vs Anuj Jain
Court's Decision & Legal Precedent
The Adjudicating Authority has limited jurisdiction in approving a resolution plan, circumscribed by Sections 30(2) and 31 of the Insolvency and Bankruptcy Code, 2016. The Authority cannot interfere with the commercial aspects of the decision taken by the Committee of Creditors. If the Adjudicating Authority finds shortcomings in the resolution plan vis-à-vis the specified parameters of keeping the corporate debtor as a going concern, maximizing the value of its assets, and taking care of interests of all stakeholders, it must send the plan back to the Committee of Creditors for reconsideration, not modify the plan itself. Payment to dissenting financial creditors must be in monetary terms, not in kind or through transfer of equity or land. Once homebuyers as a class vote in favor of a resolution plan through their authorized representative, individual homebuyers cannot challenge the plan as dissenting creditors or aggrieved persons. The INR 750 crores deposited by the holding company pursuant to Supreme Court orders in Chitra Sharma is the property of the holding company, not the corporate debtor, and cannot be appropriated by the corporate debtor or the resolution applicant.
On this section: Public announcement of insolvency commencement
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Vinay Kumar Mittal vs Dewan Housing Finance Corporation LTD
Court's Decision & Legal Precedent
The claims made by depositors in a corporate insolvency resolution process of a financial service provider shall be considered by the Committee of Creditors and the Administrator independently and without being influenced by interim orders passed by courts in related proceedings, and depositors have the right to raise all contentions before the Committee of Creditors, the Administrator, and the NCLT to ensure their interests are protected in accordance with the Insolvency and Bankruptcy Code.
On this section: Admission of claims in the insolvency process; referenced regarding the Administrator's duty to call for claims from depositors
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.
Made under this section, and citing it
2 instruments name this provision in its title or its text without being made under it.
Questions about Section 15
What have the courts held on Section 15 of the Insolvency and Bankruptcy Code?
Raman Prakash Mangla vs Anuj Jain (24 Mar 2021) is the leading judgment on this section among those set out below: Public announcement of insolvency commencement. Another 1 judgment on this section is set out below, all of them from the Supreme Court. They run from 2020 to 2021.
How do I find court cases under Section 15 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 15, section 15 Insolvency and Bankruptcy Code, section 15 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. 2 reported judgments on this section are set out on this page, beginning with Raman Prakash Mangla vs Anuj Jain (24 Mar 2021).
What should I read with Section 15 of the Insolvency and Bankruptcy Code, and has it changed?
Its own text turns on section 7 (Initiation of corporate insolvency resolution process by financial creditor), section 9 (Application for initiation of corporate insolvency resolution process by operational creditor), section 10 (Initiation of corporate insolvency resolution process by corporate applicant), section 13 (Declaration of moratorium and public announcement), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it. 2 instruments name it without being made under it, most recently Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 (2022), then The Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 (2018).
When was Section 15 of the Insolvency and Bankruptcy Code enacted?
Section 15 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 15, 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 22 Oct 2026. This page is not a substitute for legal advice.