Explain the objective and procedural requirements for issuance of Public Notice under section 102 of the Insolvency and Bankruptcy Code, 2016.

The objective of section 102 of the Insolvency and Bankruptcy Code, 2016 is to provide an opportunity to all the creditors to be a part of the repayment plan. Section 102 provides for the issuance of a public notice by the Adjudicating Authority inviting claims from the creditors of the debtor. Issuance of public notice According to sub-section (1) of section 102 of the Code , 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. According to sub-section (3) of section 102 of the Code , such 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. Inclusion of certain details According to sub-section (2) of section 102 of the Code , the notice under sub-section (1) shall include- (a) details of the order admitting the application; (b) particulars of the resolution professional with whom the claims are to be registered; and (c) the last date for submission of claims.