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of <h1>Insolvency Code 2016: Resolution Plan Ends Prematurely if Not Fully Implemented; Bankruptcy Order May Follow</h1> A repayment plan under the Insolvency and Bankruptcy Code, 2016, ends prematurely if not fully implemented for all bound parties within the specified period. In such cases, the resolution professional must report to the Adjudicating Authority detailing receipts, payments, reasons for premature termination, and unsatisfied creditor claims. The Authority will then order the plan as incomplete. Creditors or debtors with unsatisfied claims may apply for a bankruptcy order. The Authority must send the report and order to involved parties and forward the bankruptcy order to the Board for registry updates.
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