The Central Government has notified the Insolvency and Bankruptcy Code (Second Amendment) Act, 2020. .The Amendment Act replaces Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 on the suspension of Sections 7, 9 and 10 of the Insolvency and Bankruptcy Code, 2016 on account of COVID-19..Vide a separate Notification, the Central Government has also extended the period of suspension for another three months from September 25..[BREAKING] Centre notifies Ordinance to suspend initiation of corporate insolvency resolution process on account of COVID-19.The Ordinance had introduced new Section 10A to suspend initiation of corporate insolvency resolution process..In view of the new Section, no new insolvency proceedings could be initiated for defaults arising on or after March 25, 2020 for a period of six months or such further period, not exceeding one year..Read the Notifications:
The Central Government has notified the Insolvency and Bankruptcy Code (Second Amendment) Act, 2020. .The Amendment Act replaces Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 on the suspension of Sections 7, 9 and 10 of the Insolvency and Bankruptcy Code, 2016 on account of COVID-19..Vide a separate Notification, the Central Government has also extended the period of suspension for another three months from September 25..[BREAKING] Centre notifies Ordinance to suspend initiation of corporate insolvency resolution process on account of COVID-19.The Ordinance had introduced new Section 10A to suspend initiation of corporate insolvency resolution process..In view of the new Section, no new insolvency proceedings could be initiated for defaults arising on or after March 25, 2020 for a period of six months or such further period, not exceeding one year..Read the Notifications:
