Section 168 in Insolvency And Bankruptcy Code, 2016
168. Obligations under contracts.
(1)This section shall apply where a contract has been entered into by the bankrupt with a person before the bankruptcy commencement date.(2)Any party to a contract, other than the bankrupt under sub-section (1), may apply to the Adjudicating Authority for-(a)an order discharging the obligations of the applicant or the bankrupt under the contract; and(b)payment of damages by the party or the bankrupt, for non-performance of the contract or otherwise.(3)Any damages payable by the bankrupt by virtue of an order under clause (b) of sub-section (2) shall be provable as bankruptcy debt.(4)When a bankrupt is a party to the contract under this section jointly with another person, that person may sue or be sued in respect of the contract without joinder of the bankrupt.
