Sections 102 explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Once an application in the individual insolvency process is admitted, creditors must be told and given a chance to claim. Section 102 provides for a public notice, section 103 for the registration of claims with the resolution professional, and section 104 for the list of creditors that the professional prepares. This article reads the three sections as printed in the IBBI consolidated text of the Code amended up to 12 August 2021. Creditors who need to put a claim in order can start with our recovery notice service.
Within seven days of the admission order under section 100, the Adjudicating Authority issues a public notice inviting claims from all creditors within twenty-one days of the notice. Creditors register claims with the resolution professional by electronic communication, courier, speed post or registered letter, with personal information and prescribed particulars. The professional prepares the list of creditors within thirty days from the date of the notice, on the basis of the debtor's application and the claims received.
Section 102: the public notice
Timing and purpose (sub-section (1)). "The Adjudicating Authority shall issue a public notice within seven days of passing the order under section 100 inviting claims from all creditors within twenty- one days of such issue." (The hyphen in "twenty- one" is a printing artefact and the period is twenty-one days.) Two periods run: seven days for the Authority to issue the notice, and twenty-one days for creditors to respond.
Contents (sub-section (2)). The notice "shall include":
| Clause | Content |
|---|---|
| (a) | Details of the order admitting the application |
| (b) | Particulars of the resolution professional with whom the claims are to be registered |
| (c) | The last date for submission of claims |
Publication (sub-section (3)). The notice shall be:
- (a) "published in at least one English and one vernacular newspaper which is in circulation in the state where the debtor resides";
- (b) "affixed in the premises of the Adjudicating Authority"; and
- (c) "placed on the website of the Adjudicating Authority".
All three modes apply together. A creditor who relies only on newspapers could miss the website entry, and the reverse is equally true. The state where the debtor "resides" decides the newspapers. For a debtor with business in several states, that location is a point on which the section's own words are brief.
The notice follows an order passed under section 100. Our article on section 100 explains that order.
Section 103: registering claims
Mode of sending (sub-section (1)). "The creditors shall register claims with the resolution professional by sending details of the claims by way of electronic communications or through courier, speed post or registered letter." Four modes are named. The claim goes to the resolution professional named in the notice, not to the Adjudicating Authority.
Additional information (sub-section (2)). "In addition to the claims referred to in sub-section (1), the creditor shall provide to the resolution professional, personal information and such particulars as may be prescribed." What is prescribed is not in the texts consulted. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019 is the regulation set for this process for personal guarantors, and the copy consulted is amended up to 02-06-2026; no rules or regulations on other individuals or on partnership firms are in the texts consulted, so this article gives no form or particulars.
Practical point. The section prints no consequence for a claim sent late or by another route. Because the notice sets a "last date for submission of claims" under section 102(2)(c), a creditor should plan to send the claim well before that date, using a mode that leaves a record. Where a demand for a debt has to be prepared first, see our guide on legal notice format and drafting.
Example. The public notice in the insolvency process of Sameer Kapoor is issued on the sixth day after the admission order and states the last date for claims. Gulmohar Agro Traders, a supplier owed an unpaid sum, sends details of its claim to the named resolution professional by registered letter and by email, together with its personal information as prescribed. Sending by two of the named modes protects the supplier if one is disputed.
Section 104: the list of creditors
Sources (sub-section (1)). The resolution professional "shall prepare a list of creditors on the basis of" (a) "the information disclosed in the application filed by the debtor under section 94 or 95, as the case may be", and (b) "claims received by the resolution professional under section 102".
Printing point: clause (b) refers to claims received "under section 102", although claims are registered with the professional under section 103. It is quoted as printed.
Clause (a) is notable: the information disclosed in the application is a source even where the creditor has not filed a claim. A creditor whom the debtor disclosed will be in the professional's material from the start. A creditor who is not disclosed must claim, or risks being absent from the list.
Time limit (sub-section (2)). "The resolution professional shall prepare the list mentioned in sub-section (1) within thirty days from the date of the notice." The thirty days run from the date of the notice, so the professional's period overlaps the creditors' twenty-one days and ends nine days later.
| Step | Period printed | Section |
|---|---|---|
| Issue of public notice | Within seven days of the order under section 100 | 102(1) |
| Claims by creditors | Within twenty-one days of the issue of the notice | 102(1) |
| List of creditors | Within thirty days from the date of the notice | 104(2) |
Why the list matters
The list of creditors is the roll for the next stages. A creditor must be on the list under section 104 to be entitled to vote at the meeting of the creditors (section 109(4)(a)), and the notice of the meeting is sent to "the list of creditors prepared under section 104" (section 107(2)); see our article on sections 107 to 109. The repayment plan report is due within twenty-one days from the last date of submission of claims under section 102 (section 106(1)); see our article on section 106. For the plan itself, see the live article on section 105.
The corresponding steps in a bankruptcy process, with different periods, are in sections 130 to 132; see our article on those sections.
The Amendment Act, 2026
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (No. 6 of 2026) does not amend sections 102, 103 or 104 as printed in the texts consulted. It does amend section 106 (section 53 of that Act), which this list feeds. The Amendment Act, 2026 comes into force on the date or dates the Central Government notifies; the notification is not in the texts consulted, so check whether any change has been notified.
Amendments and notifications made after 12 August 2021, other than the Amendment Act, 2026, are not in the texts consulted and should be checked.
Need help sending or defending a claim?
Missing a claims window can leave a creditor outside the list and therefore outside the vote. If you are owed money by a debtor in an insolvency process, our recovery notice team can help you put the details of your claim in order and send them to the resolution professional by a mode that keeps a record.
Key takeaways
- The public notice issues within seven days of the section 100 order; creditors have twenty-one days from issue.
- The notice goes in an English and a vernacular newspaper, on the Authority's premises and on its website.
- Claims go to the resolution professional by electronic communication, courier, speed post or registered letter.
- The list of creditors is prepared within thirty days from the date of the notice.
- A creditor off the list cannot vote at the creditors' meeting.
Read next
- Section 106: the resolution professional's report on the repayment plan
- Sections 107 to 109: the meeting of creditors
- Section 100: admission or rejection of the application
- The repayment plan under section 105
Disclaimer: Based on the IBBI consolidated text of the Insolvency and Bankruptcy Code, 2016 amended up to 12 August 2021 and on the Insolvency and Bankruptcy Code (Amendment) Act, 2026 (No. 6 of 2026), which comes into force on the date or dates notified by the Central Government, as consulted on 2 October 2026. It explains the words of the statute only; commencement notifications, other amendments made after 12 August 2021, notified thresholds, the rules and IBBI regulations, and the way tribunals and courts apply these sections should be checked. This article is general information, not legal advice; check the official text before acting.