Govt has notified that for an application for fast track corporate insolvency resolution process may be made also by a Startup (other than the partnership firm) as defined vide Notification No. G.S.R. 127(E), dated the 19th February, 2019
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 30th August, 2022
S.O. 4142(E).—In exercise of the powers conferred by sub-section (2) of section 55 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby makes the following amendment in the notification of the Government of India, in the Ministry of Corporate Affairs, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide S.O. 1911(E), dated the 14th June, 2017, namely:-
In the said notification, for clause (b), the following clause shall be substituted, namely:-
“(b) a Startup (other than the partnership firm) as defined in the notification of the Government of India in the Ministry of Commerce and Industry number G.S.R. 127(E), dated the 19th February, 2019, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 19th February, 2019 and as amended from time to time; or”.
[F. No. 30/4/2017-Insolvency]
ANITA SHAH AKELLA, Jt. Secy.
Note : The Principal Notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide S.O. 1911(E), dated the 14th June, 2017.
