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Section55
The Insolvency and Bankruptcy Code, 2016

Fast track corporate insolvency resolution process

In force Act 31 of 2016 As on 20 Oct 2026

Act 31 of 2016 Ministry Corporate Affairs Enacted 28 May 2016 Instruments 3

Section 55 of the Insolvency and Bankruptcy Code, 2016 deals with fast track corporate insolvency resolution process. A corporate insolvency resolution process carried out in accordance with this Chapter shall be called as fast track corporate insolvency resolution process. The Act was enacted on 28 May 2016.

(1) A corporate insolvency resolution process carried out in accordance with this Chapter shall be called as fast track corporate insolvency resolution process.

(2) An application for fast track corporate insolvency resolution process may be made in respect of the following corporate debtors, namely:—

(a) a corporate debtor with assets and income below a level as may be notified by the Central Government; or

(b) a corporate debtor with such class of creditors or such amount of debt as may be notified by the Central Government; or

(c) such other category of corporate persons as may be notified by the Central Government.

Section 55, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).

Made under this section, and citing it

1 instrument states 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.

Another 2 instruments name this provision in its title or its text without being made under it.

All subordinate legislation

Questions about Section 55

What does Section 55 of the Insolvency and Bankruptcy Code deal with?

Section 55 of the Insolvency and Bankruptcy Code is headed "Fast track corporate insolvency resolution process". A corporate insolvency resolution process carried out in accordance with this Chapter shall be called as fast track corporate insolvency resolution process.

How do I find court cases under Section 55 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 55, section 55 Insolvency and Bankruptcy Code, section 55 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 55 of the Insolvency and Bankruptcy Code, and has it changed?

The rules and notifications made under it are where it actually bites, and there is one: most recently Commencement of sections related to Fast Track Corporate Insolvency Resolution Process and notification u/s 55(2) of the Code (2017).

When was Section 55 of the Insolvency and Bankruptcy Code enacted?

Section 55 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 55, 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.