Duties of insolvency professional before initiation of pre-packaged insolvency resolution process
Section 54B of the Insolvency and Bankruptcy Code, 2016 deals with duties of insolvency professional before initiation of pre-packaged insolvency resolution process. packaged insolvency resolution process.--(1) The insolvency professional, proposed to be appointed as the resolution professional, shall have the following duties commencing from the date of the approval under clause (e) of sub-section (2) of section 54A, namely:-- (a) prepare a report in such form The Act was enacted on 28 May 2016.
54B. Duties of insolvency professional before initiation of pre-packaged insolvency resolution process.--(1) The insolvency professional, proposed to be appointed as the resolution professional, shall have the following duties commencing from the date of the approval under clause (e) of sub-section (2) of section 54A, namely:--
(a) prepare a report in such form as may be specified, confirming whether the corporate debtor meets the requirements of section 54A, and the base resolution plan conforms to the requirements referred to in clause (c) of sub-section (4) of section 54A;
(b) file such reports and other documents, with the Board, as may be specified; and
(c) perform such other duties as may be specified.
(2) The duties of the insolvency professional under sub-section (1) shall cease, if,--
(a) the corporate debtor fails to file an application for initiating pre-packaged insolvency resolution process within the time period as stated under the declaration referred to in clause (f) of sub-section (2) of section 54A; or
(b) the application for initiating pre-packaged insolvency resolution process is admitted or rejected by the Adjudicating Authority,
as the case may be.
(3) The fees payable to the insolvency professional in relation to the duties performed under sub-section (1) shall be determined and borne in such manner as may be specified and such fees shall form part of the pre-packaged insolvency resolution process costs, if the application for initiation of prepackaged insolvency resolution process is admitted.
Section 54B, 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
1 instrument names this provision in its title or its text without being made under it.
Questions about Section 54B
What does Section 54B of the Insolvency and Bankruptcy Code deal with?
Section 54B of the Insolvency and Bankruptcy Code is headed "Duties of insolvency professional before initiation of pre-packaged insolvency resolution process". 54B. Duties of insolvency professional before initiation of pre-packaged insolvency resolution process.--(1) The insolvency professional, proposed to be appointed as the resolution professional, shall have the following duties commencing from the date of the approval under clause (e) of sub-section
How do I find court cases under Section 54B 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 54B, section 54B Insolvency and Bankruptcy Code, section 54B 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 54B 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. 2 other provisions in this corpus refer back to it. One instrument names it without being made under it, most recently IBBI (Pre-packaged Insolvency Resolution Process) Regulations, 2021 (2021).
When was Section 54B of the Insolvency and Bankruptcy Code enacted?
Section 54B of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 54B, 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 16 Oct 2026. This page is not a substitute for legal advice.