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Insolvency and Bankruptcy Code (Second Amendment) Act 2018 - Notified

The  Insolvency and Bankruptcy Code (Second Amendment) Act 2018 received the assent of the President on the 17th August, 2018 and has been published by the Ministry of Law and Justice (Legislative Department) in the official gazette (Extraordinary, Part II - Sec. 1) on 17th August, 2018. It shall be deemed to have come into force on the 6th day of June, 2018.

The copy of the said Act is also made available in IBBI official website. Download at:

IBBI portal >> Legal Framework >> Act >>  Insolvency and Bankruptcy Code (Second Amendment) Act 2018

Insolvency and Bankruptcy Code (Second Amendment) Act 2018 - summary of changes:

a) Amended sections of the Insolvency and Bankruptcy Code, 2016:
   Sections 3, 5, 7, 8, 9, 10, 12, 14, 15, 16, 17, 18, 21, 22, 23, 24, 27, 28, 29A, 30, 31, 33, 34, 42, 45, 60, 69, 76, 196, 231, 239, 240;

b) New sections inserted in the Insolvency and Bankruptcy Code, 2016:
    Sections 12A, 25A, 238A, 240A;

c) The 'Twelfth Schedule' is newly added to the Insolvency and Bankruptcy Code, 2016;

d) Section 434 of the Companies Act, 2013 is modified.

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