Section 133
Summoning of meeting of creditors.
The Insolvency and Bankruptcy Code, 2016.
About this Act
An Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto.
(1) The bankruptcy trustee shall, within twenty-one
days from the bankruptcy commencement date, issue a notice for calling a meeting of the creditors, to
every creditor of the bankrupt as mentioned in the list prepared under section 132.
(2) The notices issued under sub-section (1) shall—
(a) state the date of the meeting of the creditors, which shall not be later than twenty-one days from the bankruptcy commencement date;
(b) be accompanied with forms of proxy voting;
(c) specify the form and manner in which the proxy voting may take place.
(3) The proxy voting, including electronic proxy voting shall take place in such manner and form as may be specified.
(2) The notices issued under sub-section (1) shall—
(a) state the date of the meeting of the creditors, which shall not be later than twenty-one days from the bankruptcy commencement date;
(b) be accompanied with forms of proxy voting;
(c) specify the form and manner in which the proxy voting may take place.
(3) The proxy voting, including electronic proxy voting shall take place in such manner and form as may be specified.