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MCA Notifies Certain Provisions Under Insolvency & Bankruptcy Code, 2016 (w.e.f. 1st April, 2017)

Ministry of Corporate Affairs, Notification dated 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.

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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