Notification for delegation of powers under section 247 of Companies Act, 2013 (CA 2013) to Insolvency and Bankruptcy Board of India (IBBI)
MINISTRY OF CORPORATE AFFAIRS
New Delhi, dated the 23rd October, 2017
S.O. ___(E). — In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), the Central Government hereby delegates the powers and functions vested in it under section 247 of the said Act to the Insolvency and Bankruptcy Board of India, subject to the condition that the Central Government may revoke such delegation of powers or it may exercise the powers under the said section, if in its opinion such a course of action is necessary in the public interest.
2. This notification shall come into force with effect from the date of its publication in the Official Gazette.
[F. No. 1/27/2013-CL-V(Part-I)]
(Amardeep Singh Bhatia)
( Joint Secretary to the Government of India)