Discharge order under insolvency code allows resolution professionals to seek debtor discharge after repayment plan completion or early discharge. A resolution professional may apply to the Adjudicating Authority for a discharge order in respect of debts mentioned in the repayment plan; the Authority ... Summary
Discharge order under insolvency code allows resolution professionals to seek debtor discharge after repayment plan completion or early discharge.
A resolution professional may apply to the Adjudicating Authority for a discharge order in respect of debts mentioned in the repayment plan; the Authority may grant the order. The repayment plan may provide for early discharge or discharge on complete implementation. The discharge order must be forwarded to the Board for registration, and such a discharge does not relieve any other person from liability in respect of their debt.
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