Definitions.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... (2) associate of the debtor means- (a) a person who belongs to the immediate family of the debtor; (b) a person who is a relative of the debtor or a relative of the spouse of the debtor; (c) a person who is in partnership with the debtor; (d) a person who is a spouse or a relative of any person with whom the debtor is in partnership; (e) a person who is employer of the debtor .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rupt by a bankruptcy order under section 126; (b) each of the partners of a firm, where a bankruptcy order under section 126 has been made against a firm; or (c) any person adjudged as an undischarged insolvent; (4) bankruptcy means the state of being bankrupt; (5) bankruptcy debt , in relation to a bankrupt, means- (a) any debt owed by him as on the bankruptcy commencement date; .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e of creditors means a committee constituted under section 134; (12) debtor includes a judgment-debtor; (13) discharge order means an order passed by the Adjudicating Authority discharging the debtor under sections 92, 119 and section 138, as the case may be; (14) excluded assets for the purposes of this part includes- (a) unencumbered tools, books, vehicles and other equipment .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... to pay damages for negligence, nuisance or breach of a statutory, contractual or other legal obligation; (c) liability to pay maintenance to any person under any law for the time being in force; (d) liability in relation to a student loan; and (e) any other debt as may be prescribed; (16) firm means a body of individuals carrying on business in partnership whether or not registered u .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... l under section 105 containing a proposal to the committee of creditors for restructuring of his debts or affairs; (21) resolution professional means an insolvency professional appointed under this part as a resolution professional for conducting the fresh start process or insolvency resolution process; (22) undischarged bankrupt means a bankrupt who has not received a discharge order un .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X