Home Acts & Rules IBC Act Insolvency and Bankruptcy Code, 2016 Chapters List Chapter III (of Part III) INSOLVENCY RESOLUTION PROCESS This
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Section 105 - Repayment plan. - Insolvency and Bankruptcy Code, 2016Extract Repayment plan. 105. (1) The debtor shall prepare, in consultation with the resolution professional, a repayment plan containing a proposal to the creditors for restructuring of his debts or affairs. (2) The repayment plan may authorise or require the resolution professional to - (a) carry on the debtor's business or trade on his behalf or in his name; or (b) realise the assets of the debtor; or (c) administer or dispose of any funds of the debtor. (3) The repayment plan shall include the following, namely:- (a) justification for preparation of such repayment plan and reasons on the basis of which the creditors may agree upon the plan; (b) provision for payment of fee to the resolution professional; (c) such other matters as may be specified. *********** Notes:- 1. Come into the force w.e.f. 01-12-2019 [F. No. 30/21/2018-Insolvency Section]. S.O. 4126(E) Dated 15-11-2019
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