In section 3, after sub -section (1), the following sub-section shall be inserted, namely:— — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

In section 3, after sub -section (1), the following sub-section shall be inserted, namely:—

3. In section 3, after sub -section (1), the following sub-section shall be inserted, namely:— " (1A) The Central Government shall by notification establish such number of Debts Recovery Tribunals and its benches as it may consider necessary, to exercise the jurisdiction, powers and authority of the Adjudicating Authority conferred on such Tribunal by or under the Insolvency and Bankruptcy Code, 2016. " .

Section 3