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As most you may aware that The Insolvency and Bankruptcy Code, 2016 is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. The Code received the assent of the President of India on 28 May 2016.
These Regulations may be called Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and comes into force on 01.12.2016
These rules may be called the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. They come into force from 1st December, 2016.
MCA notified following provisions of Insolvency and Bankruptcy Code, 2016 from 1st December, 2016 (1) clause (a) to clause (d) of section 2 (except with regard to voluntary liquidation or Bankruptcy);
Insolvency and Bankruptcy Board (IBBI) of India notifies two Regulations; The IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 and IBBI (Insolvency Professional Agencies) Regulations, 2016.
S.O. 3453(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 15th November, 2016 as the date on which the provisions of the following sections of the said Code shall come into force
Insolvency and Bankruptcy Code, 2016 is to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner.
MCA, vide its notification dated November 1, 2016 notified the third tranche of sections applicable of Insolvency and Bankruptcy Code, 2016
S.O. 3355(E). Central Government hereby appoints the 1st November, 2016 as the date on which some provisions of Insolvency and Bankruptcy Code, 2016 shall come into force
In exercise of the powers conferred under sub-section (2) of section 7, sub-section (1) of section 8, sub-section (2) of section 9, sub-section (2) of section 10, sub-sections (1) and (2) of section 239 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby makes the following Rules, namely.
