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Section38
The Insolvency and Bankruptcy Code, 2016

Consolidation of claims

In force Act 31 of 2016 As on 20 Oct 2026

Act 31 of 2016 Ministry Corporate Affairs Enacted 28 May 2016 Cited by 2 provisions Instruments 3

Section 38 of the Insolvency and Bankruptcy Code, 2016 deals with consolidation of claims. The liquidator shall receive or collect the claims of creditors within a period of thirty days from the date of the commencement of the liquidation process. The Act was enacted on 28 May 2016.

(1) The liquidator shall receive or collect the claims of creditors within a period of thirty days from the date of the commencement of the liquidation process.

(2) A financial creditor may submit a claim to the liquidator by providing a record of such claim with an information utility:

Provided that where the information relating to the claim is not recorded in the information utility, the financial creditor may submit the claim in the same manner as provided for the submission of claims for the operational creditor under sub-section (3).

(3) An operational creditor may submit a claim to the liquidator in such form and in such manner and along with such supporting documents required to prove the claim as may be specified by the Board.

(4) A creditor who is partly a financial creditor and partly an operational creditor shall submit claims to the liquidator to the extent of his financial debt in the manner as provided in sub-section (2) and to the extent of his operational debt under sub-section (3).

(5) A creditor may withdraw or vary his claim under this section within fourteen days of its submission.

Section 38, 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.

Referred to by 2

  1. s. 39 Verification of claims
  2. s. 240 Power to make regulations

Made under this section, and citing it

3 instruments name this provision in its title or its text without being made under it.

All subordinate legislation

Questions about Section 38

What does Section 38 of the Insolvency and Bankruptcy Code deal with?

Section 38 of the Insolvency and Bankruptcy Code is headed "Consolidation of claims". The liquidator shall receive or collect the claims of creditors within a period of thirty days from the date of the commencement of the liquidation process.

How do I find court cases under Section 38 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 38, section 38 Insolvency and Bankruptcy Code, section 38 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 38 of the Insolvency and Bankruptcy Code, and has it changed?

2 other provisions in this corpus refer back to it. 3 instruments name it without being made under it, most recently Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2022 (2022), then Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2022 (2022).

When was Section 38 of the Insolvency and Bankruptcy Code enacted?

Section 38 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 38, 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 20 Oct 2026. This page is not a substitute for legal advice.