(7)o4/0007/2003-_20 — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

Tj} ro So UeTo (7)o4/0007/2003-_20 REGISTERED NO. DL -(N)04/0007/2003 20 9RT 7T 4619F Che Gazette or Zndia H.5t-3.va-31-05062020-219746 CG-DL-E-05062020-219746 3TTMRU EXTRAORDINARY H0 M=@ug 1 PART II Section 1 gfuaT 4 YairTa PUBLISHED BY AUTHORITY 34] No. 34] #fecai, Than, 5, 2020/+46 15, 1942 (R1V) NEW DELHI; FRIDAY, JUNE 5, 2020/JYAISHTHA 15, 1942 (SAKA) HT #fT7963 #CA & v & fRNA f4 %3 3TrTT tana7 9 7y # 7u1 & {aF | Separate paging is given to this Part in order that it may be filed as a separate compilation: MINISTRY OFLAWAND JUSTICE (Legislative Department) New Delhi, the Sth June, 2020/Jyaishtha 15, 1942 (Saka) THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE, 2020 No. 9 OF 2020 Promulgated by the President in the Seventy-first Year of the Republic of India: An Ordinance further to amend the Insolvency and Bankruptcy Code, 2016. WHEREAS the entire ecosystem for implementation of the Insolvency and Bankruptcy Code, 2016 is in place; AND WHEREAS the provisions relating to corporate insolvency resolution process and liquidation process for corporate persons under the Code are in operation; AND WHEREAS COVID-19 pandemic has impacted business, financial markets and economy all over the world, including India, and created uncertainty and stress for business for reasons beyond their control; AND WHEREAS a nationwide lockdown is in force since THE GAZETTE OF INDIA EXTRAORDINARY [PART II 25th March; 2020 to combat the spread of COVID-19 which has addedtodisruption of normal business operations; AND WHEREAS it is difficult to find adequate number of resolution applicants to rescue the corporate person who may default in discharge of their debt obligation; AND WHEREAS it is considered expedient to suspend under sections 7,9 and 10 of the Insolvency and Bankruptcy Code