Section 244 Insolvency and Bankruptcy Code 2016 Enforced w.e.f 01.11.2016 Transitional provisions. 244. (1) Until the Board is constituted or a financial sector regulator is designated under section 195, as the case may be, the powers and functions of the Board or such designated financial sector regulator, including its power to make regulations, shall be… Read More »
Section 240 Insolvency and Bankruptcy Code 2016 Power to make regulations. 240. *(1) The Board may, by notification, make regulations consistent with this Code and the rules made thereunder, to carry out the provisions of this Code. (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all… Read More »
Section 239 Insolvency and Bankruptcy Code 2016 Power to make rules. 239. *(1) The Central Government may, by notification, make rules for carrying out the provisions of this Code. (2) Without prejudice to the generality of the provisions of sub-section (1) , the Central Government may make rules for any of the following matters, namely:—… Read More »
Section 223 Insolvency and Bankruptcy Code 2016 Enforced w.e.f 01.11.2016 Accounts and audit. 223. (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed by the Central Government in consultation with the Comptroller and Auditor-General of India. (2) The accounts… Read More »
Section 197 Insolvency and Bankruptcy Code 2016 Enforced w.e.f 01.11.2016 Constitution of advisory committee, executive committee or other committee. 197. The Board may, for the efficient discharge of its functions, may constitute advisory and executive committees or such other committees, as it may deem fit, consisting of a Chairperson and such other members as may… Read More »
Section 196 of Insolvency and Bankruptcy Code 2016 Enforced w.e.f 01.11.2016 CHAPTER II POWERS AND FUNCTIONS OF THE BOARD Powers and functions of Board. 196. (1) The Board shall, subject to the general direction of the Central Government, perform all or any of the following functions namely :— (a) register insolvency professional agencies, insolvency professionals… Read More »
Section 3 of Insolvency and Bankruptcy Code 2016 Definition. 3. In this Code, unless the context otherwise requires,— *(1) “Board” means the Insolvency and Bankruptcy Board of India established under sub-section (1) of section 188; (2)** “bench” means a bench of the Adjudicating Authority; (3)** “bye-laws” mean the bye-laws made by the insolvency professional agency… Read More »
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 1st November, 2016 S.O. 3355(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 November, 2016 as the date on which the provisions of the following sections of… Read More »
Insolvency and Bankruptcy (Registration of Insolvency Professionals) Regulations, 2016 In exercise of the powers conferred by sub-sections (1)(a) to (c) of section 196 and section 207 read with sub-sections (1) and (2) (zzh) to (zzi) of section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Board hereby makes the following Regulations,… Read More »
Commentary on The Insolvency and Bankruptcy Code 2016 Paperback – 2016 BUY Publisher: Current Publications (2016) Language: English