Section 179 of IBC : Section 179: Adjudicating Authority For Individuals And Partnership Firms
IBC
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Explanation using Example
Imagine John Doe, an individual who runs a small bakery in Mumbai, is unable to pay his debts and decides to file for insolvency. According to Section 179(1) of the Insolvency and Bankruptcy Code, 2016, John would approach the Debt Recovery Tribunal (DRT) that has jurisdiction over Mumbai, since that's where he resides and conducts his business. The DRT would handle his insol...
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