Section 60 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.
Section 60 names the forum for corporate insolvency. For corporate persons, including corporate debtors and personal guarantors of corporate debtors, the Adjudicating Authority is the National Company Law Tribunal having territorial jurisdiction over the registered office. The section then brings the proceedings against the guarantors of a corporate debtor before the same Tribunal, gives it wide jurisdiction and suspends limitation during a moratorium. This article explains the six sub-sections as per the IBBI consolidated text of the Code amended up to 12 August 2021. Section 60 is not touched by the Insolvency and Bankruptcy Code (Amendment) Act, 2026.
The National Company Law Tribunal with territorial jurisdiction over the registered office is the Adjudicating Authority for corporate persons, including corporate debtors and personal guarantors of them. Where a process or liquidation of a corporate debtor is pending before it, applications on a corporate or personal guarantor of that debtor must be filed before the same Tribunal, and pending ones are transferred. It may entertain any application, claim or question of priorities or law or fact arising from the proceedings. The moratorium period is excluded in computing limitation.
Section 60(1): the forum
"The Adjudicating Authority, in relation to insolvency resolution and liquidation for corporate persons including corporate debtors and personal guarantors thereof shall be the National Company Law Tribunal having territorial jurisdiction over the place where the registered office of the corporate person is located."
The territorial test is the place of the registered office of the corporate person. The section applies to "insolvency resolution and liquidation for corporate persons including corporate debtors and personal guarantors thereof". For the constitution and benches of the Tribunal under the Companies Act, 2013, see our posts on sections 408 to 418 of the Companies Act, 2013 and section 419 of the Companies Act, 2013; the reader should check the current law for the corresponding provisions of that Act. For a summary of the Tribunal's role under the Code, see NCLT as Adjudicating Authority for corporate persons.
Anyone deciding where a corporate insolvency application is to be filed, or defending one filed in the wrong place, can take legal dispute resolution advice on the registered-office test.
Section 60(2): guarantors follow the corporate debtor
"Without prejudice to sub-section (1) and notwithstanding anything to the contrary contained in this Code, where a corporate insolvency resolution process or liquidation proceeding of a corporate debtor is pending before a National Company Law Tribunal, an application relating to the insolvency resolution or liquidation or bankruptcy of a corporate guarantor or personal guarantor, as the case may be, of such corporate debtor shall be filed before such National Company Law Tribunal."
The consequence is that the guarantor of a corporate debtor whose process or liquidation is pending is dealt with by the same Tribunal. The words "notwithstanding anything to the contrary contained in this Code" give the sub-section precedence. The footnotes to the consolidated text record that the words "liquidation or bankruptcy of a corporate guarantor or personal guarantor, as the case may be, of such corporate debtor" were substituted by Act No. 26 of 2018 in sub-sections (2) and (3); the old wording in a footnote is not law. For the live post on the guarantor-related corporate process, see corporate guarantees under the IBC and for the personal guarantor process personal guarantor insolvency under the IBC.
Section 60(3): transfer of pending proceedings
"An insolvency resolution process or liquidation or bankruptcy proceeding of a corporate guarantor or personal guarantor, as the case may be, of the corporate debtor pending in any court or tribunal shall stand transferred to the Adjudicating Authority dealing with insolvency resolution process or liquidation proceeding of such corporate debtor."
The transfer is by operation of the sub-section ("shall stand transferred"): no application is needed. It covers any proceeding pending "in any court or tribunal".
Section 60(4): powers of the Debt Recovery Tribunal
"The National Company Law Tribunal shall be vested with all the powers of the Debt Recovery Tribunal as contemplated under Part III of this Code for the purpose of sub-section (2)." So when it hears the guarantor application under sub-section (2), the Tribunal has the powers the Code gives the Debt Recovery Tribunal in Part III.
Section 60(5): jurisdiction
"Notwithstanding anything to the contrary contained in any other law for the time being in force, the National Company Law Tribunal shall have jurisdiction to entertain or dispose of –"
| Clause | Subject |
|---|---|
| (a) | any application or proceeding by or against the corporate debtor or corporate person |
| (b) | any claim made by or against the corporate debtor or corporate person, including claims by or against any of its subsidiaries situated in India |
| (c) | any question of priorities or any question of law or facts, arising out of or in relation to the insolvency resolution or liquidation proceedings of the corporate debtor or corporate person under this Code |
The sub-section overrides any other law for the time being in force. Its width follows from the words: any application, any claim and any question of priorities, law or fact, so long as it arises "out of or in relation to" the insolvency resolution or liquidation proceedings under the Code. The text is silent on what lies outside that link.
Section 60(6): limitation
"Notwithstanding anything contained in the Limitation Act, 1963 or in any other law for the time being in force, in computing the period of limitation specified for any suit or application by or against a corporate debtor for which an order of moratorium has been made under this Part, the period during which such moratorium is in place shall be excluded."
The period of the moratorium is left out when counting limitation for a suit or application by or against the corporate debtor for which an order of moratorium has been made under Part II. The section names the Limitation Act, 1963; the reader should check the current law for the corresponding provision of that Act. For the Code's own section on limitation, see the live post on the law of limitation under the IBC and acknowledgment of debt. For the moratorium, see the section 14 moratorium.
Example
Vertex Pumps Pvt Ltd has its registered office in a city where one bench of the Tribunal sits, and a corporate insolvency resolution process is pending before that bench. A bank applies to start insolvency proceedings against Mr Rao, a personal guarantor of Vertex Pumps. Under section 60(2), the application is filed before the same bench. A guarantor proceeding already pending in another tribunal stands transferred under section 60(3). A supplier whose claim limitation would have run out during the moratorium finds the moratorium period excluded under section 60(6). The names are invented.
Amendments and the Amendment Act, 2026
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 does not amend section 60. The Amendment Act comes into force on the date or dates the Central Government notifies; the notification is not in the texts consulted, so check whether any related change has been notified. Section 235A, as substituted by that Act, refers to "the Adjudicating Authority" for its purposes as the one "referred to in section 60 or section 179, as the case may be". 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 with the forum for a corporate insolvency matter?
Where a corporate debtor and its guarantors are involved, the forum, the transfer of pending cases and limitation interact. Our team can help you plan the filing and the defence through legal dispute resolution.
Key takeaways
- The National Company Law Tribunal with territorial jurisdiction over the registered office is the Adjudicating Authority for corporate persons, including corporate debtors and personal guarantors of them.
- Applications on the insolvency of a corporate or personal guarantor of a corporate debtor whose process or liquidation is pending must be filed before the same Tribunal; pending proceedings stand transferred.
- The Tribunal has the powers of the Debt Recovery Tribunal for that purpose and wide jurisdiction over applications, claims and questions of priorities, law or fact.
- The moratorium period is excluded in computing limitation.
- The Amendment Act, 2026 does not amend section 60.
Read next
- Sections 32, 61 and 62: appeals against resolution plan orders
- Sections 63, 64 and 64A: civil court bar and frivolous proceedings
- NCLT as Adjudicating Authority for corporate persons
- NCLT under the IBC
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.