Sections 116 and 117 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.
An approved repayment plan only helps creditors if it is carried out. Section 116 makes the resolution professional the supervisor of implementation and lets him go to the Adjudicating Authority for directions. Section 117 requires him, within fourteen days of completion, to send a notice of full implementation and a report on receipts and payments. This article reads both as printed in the IBBI consolidated text of the Code amended up to 12 August 2021. A debtor or creditor tracking a plan through its payment stage can seek a legal consultation to keep the records straight.
The resolution professional appointed under section 97 or 98 supervises the implementation of the repayment plan and may apply to the Adjudicating Authority for directions on any particular matter; the Authority may issue directions. Within fourteen days of completion, he must forward to the persons bound by the plan and to the Authority a notice that the plan has been fully implemented and a report summarising receipts and payments. He may ask the Authority to extend that time by not more than seven days.
Section 116: implementation and supervision
Who supervises (sub-section (1)). "The resolution professional appointed under section 97 or under section 98 shall supervise the implementation of the repayment plan." The professional who started the process, or the one who replaced him, supervises. Our article on sections 97 and 98 explains both routes. The creditors' own route to replace the professional "for implementation of the repayment plan" is in section 98(4).
Seeking directions (sub-section (2)). "The resolution professional may apply to the Adjudicating Authority for directions, if necessary, in relation to any particular matter arising under the repayment plan." Two conditions: the application must be necessary, and it must relate to a "particular matter arising under the repayment plan". The sub-section does not give a debtor or a creditor a right to apply; the application is the professional's.
Directions (sub-section (3)). "The Adjudicating Authority may issue directions to the resolution professional on the basis of an application under sub-section (2)." The power is permissive and tied to an application. Directions to the professional can also be part of the approval order itself under section 114(2); see our article on sections 114 and 115.
The section does not describe the day-to-day work of supervision, such as collecting payments or distributing them. The section leaves those details to the plan and to the rules and regulations. 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; 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.
Section 117: completion
The documents (sub-section (1)). "The resolution professional shall within fourteen days of the completion of the repayment plan, forward to the persons who are bound by the repayment plan under section 115 and the Adjudicating Authority, the following documents, namely":
| Clause | Document |
|---|---|
| (a) | A notice that the repayment plan has been fully implemented |
| (b) | A copy of a report by the resolution professional summarising all receipts and payments made in pursuance of the repayment plan and the extent of the implementation of such plan as compared with the repayment plan approved by the meeting of the creditors |
Four things stand out.
- Recipients. The documents go to "the persons who are bound by the repayment plan under section 115", meaning the debtor and the creditors mentioned in the plan, and to the Adjudicating Authority.
- Trigger. The fourteen days run from "the completion of the repayment plan". The section does not define completion; it is read with the plan itself.
- Contents of the report. It covers all receipts and payments, and compares the extent of implementation with the plan "approved by the meeting of the creditors". Where the Authority approved a plan without a meeting, the section's wording still refers to the plan approved by the meeting; the section does not address that case separately, and this article does not add a reading.
- Effect on the plan period. The notice under section 117 closes the "period of the repayment plan" for the purposes of section 110, which is relevant to secured creditors who voted; see our article on section 110.
Extension (sub-section (2)). "The resolution professional may apply to the Adjudicating Authority to extend the time mentioned in sub-section (1) for such further period not exceeding seven days." The maximum extension is seven days. The sub-section does not say on what grounds the Authority may allow it, and the section is silent on what follows if the fourteen days or the extension are not kept.
| Step | Who | Period printed | Section |
|---|---|---|---|
| Supervise implementation | Resolution professional | During the plan | 116(1) |
| Apply for directions | Resolution professional | If necessary | 116(2) |
| Forward notice of full implementation and report | Resolution professional | Within fourteen days of completion | 117(1) |
| Extension | Adjudicating Authority, on the professional's application | Further period not exceeding seven days | 117(2) |
Example. The repayment plan of Parvati Iyer provides for twelve monthly instalments, which she pays on time. The resolution professional supervises collection and distribution under section 116(1). The last instalment is paid on a Friday. Within fourteen days he forwards to Parvati, to the creditors named in the plan and to the Adjudicating Authority a notice of full implementation and a report listing every receipt and payment and comparing the result with the approved plan. If the report is not ready, he may apply for up to seven more days.
What happens after completion
Completion leads to the discharge stage. Section 119 provides that the resolution professional shall apply for a discharge order "on the basis of the repayment plan", and the plan may provide for early discharge or discharge on complete implementation; see our article on the discharge order under section 119. If a plan is not implemented in full within the period it sets, section 118 applies instead; see our article on sections 118 and 120.
The Amendment Act, 2026
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (No. 6 of 2026) does not amend sections 116 or 117 as printed in the texts consulted. 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 to the neighbouring sections of Part III 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 while a repayment plan is running?
A plan can fail through small gaps in payment records. A legal consultation can help the debtor or a creditor keep a clear ledger of receipts and payments, and prepare for the notice and report that section 117 requires at the end.
Key takeaways
- The resolution professional appointed under section 97 or 98 supervises implementation.
- He may apply to the Adjudicating Authority for directions on any particular matter arising under the plan.
- Within fourteen days of completion he forwards a notice of full implementation and a report of receipts and payments.
- The time can be extended by not more than seven days on application to the Authority.
- Completion leads to the discharge stage under section 119.
Read next
- Sections 118 and 120: the repayment plan coming to an end prematurely
- The discharge order under section 119
- Sections 114 and 115: order on the repayment plan and its effect
- 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.