The Insolvency and Bankruptcy Code, 2016

Amendment of Act 52 of 1962 The Customs Act, 1962 shall be amended in the manner specified in the Fourth Schedule. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company Audit […]

Amendment of Act 43 of 1961 The Income – Tax Act, 1961 shall be amended in the manner specified in the Third Schedule. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration |

Amendment of Act 1 of 1944. The Central Excise Act, 1944 shall be amended in the manner specified in the Second Schedule. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company

Amendment of Act 9 of 1932 The Indian Partnership Act, 1932 shall be amended in the manner specified in the First Schedule. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal | Income Tax Notice | GST Registration | GST Return Filing | FSSAI Registration | Company Registration | Company

Transitional provisions (1) Until the Board is constituted or a financial sector regulator is designated under section 195, as the case may be, the powers and functions of the Board or such designated financial sector regulator, including its power to make regulations, shall be exercised by the Central Government. (2) Without prejudice to the generality of the power under sub-section (1), the Central Government

Repeal of certain enactments and savings. (1) The Presidency Towns Insolvency Act, 1909 (3 of 1909) and the Provincial Insolvency Act, 1920 (5 of 1920) are hereby repealed. (2) Notwithstanding the repeal under sub-sections (1) – (i) all proceedings pending under and relating to the Presidency Towns Insolvency Act 1909, and the Provincial Insolvency Act

Power to remove difficulties (1) If any difficulty arises in giving effect to the provisions of this Code, the Central Government may, by order, published in the Official Gazette, make such provisions not inconsistent with the provisions of this Code as may appear to be necessary for removing the difficulty: Provided that no order shall

Rules and Regulations to be laid before Parliament Every rule and every regulation made under this Code shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in

Application of this Code to micro, small and medium enterprises. (1) Notwithstanding anything to the contrary contained in this Code, the provisions of clauses (c) and (h) of section 29A shall not apply to the resolution applicant in respect of corporate insolvency resolution process 2[or pre-packaged insolvency resolution process] of any micro, small and medium enterprises. (2) Subject to sub-section

Power to make regulations (1) The Board may, by notification, make regulations consistent with this Code and the rules made thereunder, to carry out the provisions of this Code. (2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely: — (a) the form and the manner