Insolvency and Bankruptcy Code, 2016
Section 55: Fast track corporate insolvency resolution process
(1) A corporate insolvency resolution process carried out in accordance with this Chapter shall be called as fast track corporate insolvency resolution process.
(2) An application for fast track corporate insolvency resolution process may be made in respect of the following corporate debtors, namely:—
(a) a corporate debtor with assets and income below a level as may be notified by the Central Government; or
(b) a corporate debtor with such class of creditors or such amount of debt as may be notified by the Central Government; or
(c) such other category of corporate persons as may be notified by the Central Government.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 12 September 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.
Supreme Court judgments citing the section 55
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