Application to initiate pre-packaged insolvency resolution process
Section 54C of the Insolvency and Bankruptcy Code, 2016 deals with application to initiate pre-packaged insolvency resolution process. packaged insolvency resolution process.--(1) Where a corporate debtor meets the requirements of section 54A, a corporate applicant thereof may file an application with the Adjudicating Authority for initiating pre-packaged insolvency resolution process. The Act was enacted on 28 May 2016.
54C. Application to initiate pre-packaged insolvency resolution process.--(1) Where a corporate debtor meets the requirements of section 54A, a corporate applicant thereof may file an application with the Adjudicating Authority for initiating pre-packaged insolvency resolution process.
(2) The application under sub-section (1) shall be filed in such form, containing such particulars, in such manner and accompanied with such fee as may be prescribed.
(3) The corporate applicant shall, along with the application, furnish--
(a) the declaration, special resolution or resolution, as the case may be, and the approval of financial creditors for initiating pre-packaged insolvency resolution process in terms of section 54A;
(b) the name and written consent, in such form as may be specified, of the insolvency professional proposed to be appointed as resolution professional, as approved under clause (e) of sub-section (2) of section 54A, and his report as referred to in clause (a) of sub-section (1) of section 54B;
(c) a declaration regarding the existence of any transactions of the corporate debtor that may be within the scope of provisions in respect of avoidance of transactions under Chapter III or fraudulent or wrongful trading under Chapter VI, in such form as may be specified;
(d) information relating to books of account of the corporate debtor and such other documents relating to such period as may be specified.
(4) The Adjudicating Authority shall, within a period of fourteen days of the receipt of the application, by an order,--
(a) admit the application, if it is complete; or
(b) reject the application, if it is incomplete:
Provided that the Adjudicating Authority shall, before rejecting an application, give notice to the applicant to rectify the defect in the application within seven days from the date of receipt of such notice from the Adjudicating Authority.
(5) The pre-packaged insolvency resolution process shall commence from the date of admission of the application under clause (a) of sub-section (4).
Section 54C, 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
Referred to by 6
- s. 5 Definitions
- s. 11A Disposal of applications under section 54C and under section 7 or section 9 or section 10
- s. 54E Declaration of moratorium and public announcement during pre-packaged insolvency resolution process
- s. 77A Punishment for offences related to pre-packaged insolvency resolution process
- s. 239 Power to make rules
- s. 240 Power to make regulations
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
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… Raman Ispat Pvt. Ltd. and Others,<sup>1</sup> we are not inclined to issue notice as we are of the opinion that the truing up, insofar as the fuel surcharge is concerned, was subsequent to the commencement of the proceedings under Section 54C of the Insolvency and Bankruptcy Code, 2016. The same will be also true as far as the special fuel surcharge amount is concerned. However, learned Senior Advocate appearing for the appellant, Shree Rajasthan Syntex Ltd., relied upon the order dated 20.09.2022 passed by the Ajmer Vidyut Vitran Nigam Limited …
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 54C
What does Section 54C of the Insolvency and Bankruptcy Code deal with?
Section 54C of the Insolvency and Bankruptcy Code is headed "Application to initiate pre-packaged insolvency resolution process". 54C. Application to initiate pre-packaged insolvency resolution process.--(1) Where a corporate debtor meets the requirements of section 54A, a corporate applicant thereof may file an application with the Adjudicating Authority for initiating pre-packaged insolvency resolution process.
How do I find court cases under Section 54C 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 54C, section 54C Insolvency and Bankruptcy Code, section 54C 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 54C 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), section 54B (Duties of insolvency professional before initiation of pre-packaged insolvency resolution process), so none of them can safely be read on its own. 6 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 54C of the Insolvency and Bankruptcy Code enacted?
Section 54C of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 54C, 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.