Insolvency and Bankruptcy Code 2016 to apply to companies from 1st April, 2017
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 15th May, 2017
S.O. 1570(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the ‘Code’), the Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of clause (a) to clause (d) of section 2 of the Code relating to voluntary liquidation or bankruptcy shall come into force.
[F. N. 30/7/2016-Insolvency Section]
AMARDEEP SINGH BHATIA, Jt. Secy.
Explanatory Memorandum:
By giving retrospective effect to this notification, it is certified that no one is being adversely affected and giving retrospective effect to this notification is purely procedural in nature.
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