140320 xxxGIDExxx — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

xxxGIDHxxx ..-.-140320 xxxGIDExxx DL-E-14032020 xxxGIDHxxx ..-..-.-14032020-218654 xxxGIDExxx CG-DL-E-14032020-218654 vlk/kkj.k EXTRAORDINARY Hkkx II — [k.M 1 PART II — Section 1 izkf/kdkj ls izdkf'kr PUBLISHED BY AUTHORITY bl Hkkx esa fHkUu i`"B la[;k nh tkrh gS ftlls fd ;g vyx ladyu ds :i esa j[kk tk ldsA Separate paging is given to this Part in order that it may be filed as a separate compilation. MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 13th March, 2020/Phalguna 23 , 1941 (Saka) The following Act of Parliament received the assent of the President on the 13th March, 2020, and is hereby published for general information:— THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ACT, 2020 NO. 1 OF 2020 [13th March, 2020.] An Act further to amend the Insolvency and Bankruptcy Code, 2016. BE it enacted by Parliament in the Seventy-first Year of the Republic of India as follows:— (1) This Act may be called the Insolvency and Bankruptcy Code (Amendment) Act, 2020. It shall be deemed to have come in force on the 28th day of December, 2019. Short title and commencement. Amendment of section 5. 2. In section 5 of the Insolvency and Bankruptcy Code, 2016 (hereafter referred to as the principal Act),— (i) in clause (12), the proviso shall be omitted; (ii) in clause (15), after the words "during the insolvency resolution process period" occurring at the end, the words "and such other debt as may be notified" shall be inserted. Amendment of section 7. 3. In section 7 of the principal Act, in sub-section (1), before the Explanation, the following provisos shall be inserted, namely:— "Provided that for the financial creditors, referred to in clauses (a) and (b) of sub-section (6A) of section 21, an application for initiating corporate insolvency resolution process