Section 7 of Insolvency and Bankruptcy Code 2016 [ Note : Section 7 comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ] Initiation of corporate insolvency resolution process by financial creditor. 7. (1) A financial creditor either by itself or jointly with other financial creditors may file an application… Read More »
Section 6 of Insolvency and Bankruptcy Code 2016 [ Note : Section 6 comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ] CHAPTER II CORPORATE INSOLVENCY RESOLUTION PROCESS Persons who may initiate corporate insolvency resolution process. 6. Where any corporate debtor commits a default, a financial creditor, an operational… Read More »
Section 5 of Insolvency and Bankruptcy Code 2016 [ Note : Section 5 comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ] Definition. 5. In this Part, unless the context otherwise requires,— (1) “Adjudicating Authority”, for the purposes of this Part, means National Company Law Tribunal constituted under section… Read More »
Section – 4, Insolvency and Bankruptcy Code, 2016 [ Note : section 4 comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ] PART II INSOLVENCY RESOLUTION AND LIQUIDATION FOR CORPORATE PERSONS CHAPTER I PRELIMINARY Application of this Part. 4. (1) This Part shall apply to matters relating to the… Read More »
Section – 2, Insolvency and Bankruptcy Code, 2016 [ Note : clause (a) to clause (d) of section 2 (except with regard to voluntary liquidation or Bankruptcy) comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ] Application. 2. The provisions of this Code shall apply to— (a) any company… Read More »
MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No. 108/2016- INCOME TAX New Delhi, the 29th November, 2016 G.S.R. 1100(E).—In exercise of the powers conferred by clause (ii) of Explanation 1 to clause (42A) of section 2, read with section 295 of the Income–tax Act, 1961 (43 of 1961), the Central… Read More »
Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th November, 2016 G.S.R. 1108(E).—In exercise of the powers conferred by clauses (c), (d), (e) and (f) of sub-section (1) of section 239 read with sections 7, 8, 9 and 10 of the Insolvency and Bankruptcy Code, 2016… Read More »
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 30th November, 2016 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATIONS, 2016 IBBI/2016-17/GN/REG004.—In exercise of the powers conferred under sections 5, 7, 9, 14, 15, 17, 18, 21, 24, 25, 29, 30, 196 and 208 read with section 240 of… Read More »
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th November, 2016 S.O. 3594(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st December, 2016 as the date on which the provisions of the following sections… Read More »
MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION S.O. 3599(E).—In exercise of the powers conferred by sub-section (2) of section 26 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby further amends the notification of the Government of India, in the Ministry of Finance, Department of Economic Affairs number… Read More »