Mera Samvidhaan All of Insolvency and Bankruptcy Code, 2016

Part III · Chapter IV · Bankruptcy Order for Individuals and Partnership Firm

138Discharge order.

Section 138 · Part III · Chapter IV · pages 109–110 of the Act

(1) The bankruptcy trustee shall apply to the Adjudicating Authority for a discharge order—

(a) on the expiry of one year from the bankruptcy commencement date; or

(b) within seven days of the approval of the committee of creditors of the completion of administration of the estates of the bankrupt under section 137, where such approval is obtained prior to the period mentioned in clause (a).

(2) The Adjudicating Authority shall pass a discharge order on an application by the bankruptcy trustee under sub-section (1).

(3) A copy of the discharge order shall be provided to the Board for the purpose of recording an entry in the register referred to in section 196.

Other provisions that mention Section 138

Section 138 of The Insolvency and Bankruptcy Code, 2016 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.