Home Acts & Rules IBC Rule Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 This
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Rule 3 - Definitions - Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019Extract 3. Definitions. ― (1) In these rules, unless the context otherwise requires, - (a) Adjudicating Authority means- (i) for the purpose of section 60, the National Company Law Tribunal constituted under section 408 of the Companies Act, 2013 (18 of 2013); or (ii) in cases other than sub-clause (i), the Debt Recovery Tribunal established under sub-section (1A) of section 3 of the Recovery of Debts and Bankruptcy Act, 1993 (51 of 1993); (b) Code means the Insolvency and Bankruptcy Code, 2016 (31 of 2016); (c) electronic form shall have the meaning assigned to it in clause (r) of section 2 of the Information Technology Act, 2000 (21 of 2000); (d) form means a form appended to these rules; (e) guarantor means a debtor who is a personal guarantor to a corporate debtor and in respect of whom guarantee has been invoked by the creditor and remains unpaid in full or part; (f) section means section of the Code; (g) serve means sending any communication by any means, including registered post, speed post, courier or electronic form, which is capable of producing or generating an acknowledgement of receipt of such communication: Provided that where a document cannot be served in any of the modes, it shall be affixed at the outer door or some other conspicuous part of the house or building in which the addressee ordinarily resides or carries on business or personally works for gain; (2) Words and expressions used and not defined in these rules but defined in the Code shall have the meanings respectively assigned to them in the Code.
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