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of <h1>Section 130 of Insolvency Code: Notify Creditors Within 10 Days of Bankruptcy Start Date with Public Notice Requirements.</h1> Section 130 of the Insolvency and Bankruptcy Code, 2016, mandates that the Adjudicating Authority must notify creditors within ten days of the bankruptcy commencement date. This involves sending notices to creditors listed in the bankrupt's statement of affairs or bankruptcy application and issuing a public notice inviting claims. The public notice must specify the deadline for submitting claims and be published in widely circulated newspapers in both English and the local language, displayed at the Adjudicating Authority's premises, and posted on its website. The notice must include prescribed details. These provisions became effective on December 1, 2019.
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