Insolvency and Bankruptcy Board of India (Annual Report) Amendment Rules, 2020- Dates for submission of the annual report referred to in rule 3 of annual accounts for audit leading to the issue of Audit Certificate by the Comptroller and Auditor General of India and for submission to the Ministry of Corporate Affairs for timely submission to the Parliament notified.
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 10th September, 2020
G.S.R. 563(E).—In exercise of the powers conferred by clause (zm) of sub-section (2) of section 239, read with sub-section (1) of section 229 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby makes the following rules to amend the Insolvency and Bankruptcy Board of India (Annual Report) Rules, 2018, namely:-
1. (1) These rules may be called the Insolvency and Bankruptcy Board of India (Annual Report) Amendment Rules, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Annual Report) Rules, 2018, for rule 4, the following rule shall be substituted, namely:-
“(4) Time Schedule for submission of annual report.-
The dates for submission of the annual report referred to in rule 3 of annual accounts for audit leading to the issue of Audit Certificate by the Comptroller and Auditor General of India and for submission to the Ministry of Corporate Affairs for timely submission to the Parliament are listed below:-
(i) approved and authenticated annual accounts to be made available by the Insolvency and Bankruptcy Board of India to the concerned Audit Office and commencement of audit of annual accounts- 30th June;
(ii) issue of the final Separate Audit Report (SAR) in English with Audit Certificate to Insolvency and Bankruptcy Board of India-31st October;
(iii) submission of the annual report and audited accounts to the Ministry of Corporate Affairs for it to be laid on the Table of the Parliament- 31st December.”
[F. No. 30/13/2018-Insolvency]
GYANESHWAR KUMAR SINGH, Jt. Secy.
Note : The principal rules were published vide number G.S.R. 422(E), dated the 1st May, 2018 .
