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of <h1>Section 138 of Insolvency Code: Procedure for Discharge Order for Individuals and Firms Explained</h1> Section 138 of the Insolvency and Bankruptcy Code, 2016 outlines the procedure for obtaining a discharge order for individuals and partnership firms. The bankruptcy trustee must apply to the Adjudicating Authority for a discharge order either after one year from the bankruptcy commencement date or within seven days following the committee of creditors' approval of the estate's administration completion. Upon application, the Adjudicating Authority is required to issue a discharge order, and a copy must be sent to the Board for entry in the register as per section 196. This provision became effective on December 1, 2019.
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