Insolvency and Bankruptcy Fund
Section 224 of the Insolvency and Bankruptcy Code, 2016 deals with insolvency and Bankruptcy Fund. There shall be formed a Fund to be called the Insolvency and Bankruptcy Fund (hereafter in this section referred to as the "Fund") for the purposes of insolvency resolution, liquidation and bankruptcy of persons under the Code. The Act was enacted on 28 May 2016.
(1) There shall be formed a Fund to be called the Insolvency and Bankruptcy Fund (hereafter in this section referred to as the "Fund") for the purposes of insolvency resolution, liquidation and bankruptcy of persons under the Code.
(2) There shall be credited to the Fund the following amounts, namely—
(a) the grants made by the Central Government for the purposes of the Fund;
(b) the amount deposited by persons as contribution to the Fund;
(c) the amount received in the Fund from any other source; and
(d) the interest or other income received out of the investment made from the Fund.
(3) A person who has contributed any amount to the Fund may, in the event of proceedings initiated in respect of such person under this Code before an Adjudicating Authority, make an application to such Adjudicating Authority for withdrawal of funds not exceeding the amount contributed by it, for making payments to workmen, protecting the assets of such persons, meeting the incidental costs during the proceedings or such other purposes as may be prescribed.
(4) The Central Government shall, by notification, appoint an administrator to administer the fund in such manner as may be prescribed.
Section 224, 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.
Made under this section, and citing it
12 instruments name this provision in its title or its text without being made under it.
- Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 2017Regulation 2017
- Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017Regulation 2017
- Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017Regulation 2017
- Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017Regulation 2017
- Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017Regulation 2017
- Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) Regulations, 2017Regulation 2017
- Insolvency and Bankruptcy Board of India (Voluntary liquidation Process) Regulations, 2017Regulation 2017
- IBBI (Insolvency Professional Agencies) Regulations, 2016Regulation 2016
- IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016Regulation 2016
- IBBI (Liquidation Process) Regulations, 2016Regulation 2016
- IBBI (Model Bye- Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016Regulation 2016
- IBBI(Insolvency Professionals) Regulations, 2016Regulation 2016
Questions about Section 224
What does Section 224 of the Insolvency and Bankruptcy Code deal with?
Section 224 of the Insolvency and Bankruptcy Code is headed "Insolvency and Bankruptcy Fund". There shall be formed a Fund to be called the Insolvency and Bankruptcy Fund (hereafter in this section referred to as the "Fund") for the purposes of insolvency resolution, liquidation and bankruptcy of persons under the Code.
How do I find court cases under Section 224 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 224, section 224 Insolvency and Bankruptcy Code, section 224 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 224 of the Insolvency and Bankruptcy Code, and has it changed?
2 other provisions in this corpus refer back to it. 12 instruments name it without being made under it, most recently Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 2017 (2017), then Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017 (2017).
When was Section 224 of the Insolvency and Bankruptcy Code enacted?
Section 224 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 224, 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 15 Oct 2026. This page is not a substitute for legal advice.