Certain provisions of Insolvency & Bankruptcy Code to apply w.e.f. 1 Dec. 2016: MCA

MCA notifies certain provisions of Insolvency & Bankruptcy Code, 2016 which shall be applicable w.e.f. 1 Dec. 2016

The MCA has notified ‘1 Dec. 2016’ as the date on which provisions of certain sections of ‘Insolvency and Bankruptcy Code, 2016‘ shall become applicable, as under:

MCA Notification dt. 30 Nov. 2016 F. No. 30/7/2016-Insolvency Section

S.O. 3594(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 December, 2016 as the date on which the provisions of the following sections of the said Code shall come into force:-

(1) clause (a) to clause (d) of section 2 (except with regard to voluntary liquidation or Bankruptcy);

(2) section 4 to section 32 [both inclusive];

(3) section 60 to section 77 [both inclusive];

(4) section 198;

(5) section 231;

(6) section 236 to section 238 [both inclusive]; and

(7) clause (a) to clause (f) of sub-section (2) of section 239.

Leave a Reply