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ARTICLE · 06 AUGUST 2020

Circulars/Notifications Issued By IBBI – July 2020

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An Ordinance was passed on 5th June 2020, by the President of India in furtherance to the announcement earlier made by Hon'ble Finance Ministry w.r.t suspension of Fresh cases to be filed under Section 7, 9 and 10 ...

IndiaInsolvency/Bankruptcy/Re-Structuring
Manoj Singh
Manoj Singh
Daizy Chawla
Daizy Chawla
Kumar Deep
Kumar Deep
Jatin Kapoor
Jatin Kapoor
Neha Mittal
Neha Mittal
Sandesh Kumar
Sandesh Kumar
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1. The Insolvency and Bankruptcy Code (Amendment) Ordinance 2020

An Ordinance was passed on 5th June 2020, by the President of India in furtherance to the announcement earlier made by Hon'ble Finance Ministry w.r.t suspension of Fresh cases to be filed under Section 7, 9 and 10 of Insolvency and Bankruptcy Code, 2016 ("I&B Code") due to the impact of COVID-19 pandemic on business, financial markets and economy all over the world, including India and the uncertainty and stress for business been created due to the reasons beyond the control of anybody. Vide the Ordinance the I&B Code 2016 is amended and a new Section 10A is inserted after Section 10. The newly inserted Section 10A reads as:

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