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Section208
The Insolvency and Bankruptcy Code, 2016

Functions and obligations of insolvency professionals

In force Act 31 of 2016 As on 15 Oct 2026

Act 31 of 2016 Ministry Corporate Affairs Enacted 28 May 2016 Cited by 4 provisions Instruments 14

Section 208 of the Insolvency and Bankruptcy Code, 2016 deals with functions and obligations of insolvency professionals. Where any insolvency resolution, fresh start, liquidation or bankruptcy process has been initiated, it shall be the function of an insolvency professional to take such actions as may be necessary, in the following matters, namely: (a) a fresh start order process under Chapter II of Part III; The Act was enacted on 28 May 2016.

(1) Where any insolvency resolution, fresh start, liquidation or bankruptcy process has been initiated, it shall be the function of an insolvency professional to take such actions as may be necessary, in the following matters, namely:

(a) a fresh start order process under Chapter II of Part III;

(b) individual insolvency resolution process under Chapter III of Part III;

(c) corporate insolvency resolution process under Chapter II of Part II;

1[(ca) pre-packaged insolvency resolution process under Chapter III-A of Part II;]

(d) individual bankruptcy process under Chapter IV of Part III; and

(e) liquidation of a corporate debtor firm under Chapter III of Part II.

1 1[(1A) Where the name of the insolvency professional proposed to be appointed as a resolution professional, is approved under clause (e) of sub-section (2) of section 54A, it shall be the function of such insolvency professional to take such actions as may be necessary to perform his functions and duties prior to the initiation of the pre-packaged insolvency resolution process under Chapter III-A of Part II.]

(2) Every insolvency professional shall abide by the following code of conduct:

(a) to take reasonable care and diligence while performing his duties;

(b) to comply with all requirements and terms and conditions specified in the bye-laws of the insolvency professional agency of which he is a member;

(c) to allow the insolvency professional agency to inspect his records;

(d) to submit a copy of the records of every proceeding before the Adjudicating Authority to the Board as well as to the insolvency professional agency of which he is a member; and

(e) to perform his functions in such manner and subject to such conditions as may be specified.

Section 208, 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

  1. s. 54A Corporate debtors eligible for pre-packaged insolvency resolution process

Referred to by 4

  1. s. 93 Standard of conduct
  2. s. 120 Standard of conduct
  3. s. 143 Standard of conduct
  4. s. 240 Power to make regulations

Made under this section, and citing it

14 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.

All subordinate legislation

Questions about Section 208

What does Section 208 of the Insolvency and Bankruptcy Code deal with?

Section 208 of the Insolvency and Bankruptcy Code is headed "Functions and obligations of insolvency professionals". Where any insolvency resolution, fresh start, liquidation or bankruptcy process has been initiated, it shall be the function of an insolvency professional to take such actions as may be necessary, in the following matters, namely: (a) a fresh start order process under Chapter II of Part III;

How do I find court cases under Section 208 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 208, section 208 Insolvency and Bankruptcy Code, section 208 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 208 of the Insolvency and Bankruptcy Code, and has it changed?

Its own text turns on section 54A (Corporate debtors eligible for pre-packaged insolvency resolution process), so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it. The rules and notifications made under it are where it actually bites, and there are 14: most recently Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2024 (2024), then Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2023 (2023), and 12 more.

When was Section 208 of the Insolvency and Bankruptcy Code enacted?

Section 208 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 208, 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

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 15 Oct 2026. This page is not a substitute for legal advice.