Comments are invited on insolvency & bankruptcy code 2016

Comments are invited on insolvency & bankruptcy code 2016

MINISTRY OF CORPORATE AFFAIRS

Notice

Ministry of Corporate Affairs invites comments from stakeholders on the Insolvency Resolution of Group Companies, Prepackaged Insolvency Resolution and any other issue relating to the Insolvency and Bankruptcy Code, 2016 (Code) and the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (AA Rules)

The Government has reconstituted Insolvency Law Committee as a Standing Committee under the Chairmanship of Secretary, MCA vide order dated 06.03.2019 to analyze the functioning and implementation of the Code, identifying issues impacting the efficiency of the insolvency resolution and liquidation framework for corporates, individuals and partnership firms prescribed under the Code and make suitable recommendations to address such issues

2. Suggestions/comments are invited from the stakeholders along with brief justification through the online facility made available on MCA website/IBBI website up to 7th May, 2019.

3. For providing comments, please follow the process as under:

1. Visit MCA website mca.gov.in and select comments from ‘News & Important Updates’ and https://ibbi.gov.in/webfront/public_comment.php )

the notice inviting click on the Link ( given in document;  or

Visit IBBI website www.ibbi.gov.in and Select ‘Public Comments’ and Select ‘Comments on the Code/AA Rules’;

1.) Provide your Name, Email ID;

Select the stakeholder category, namely-

a. Corporate Debtor;

b. Creditor to a Corporate Debtor;

c. Insolvency Professional;

d. Insolvency Professional Agency;

e. Insolvency Professional Entity;

f. Industry Association

g. Lawyer/Law firms

h. Academics;

i. investors or others

Click here to read the complete press release

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