rz ro Sto QeTo_ 07)o4/0007/2003-_19 — THE INSOLVENCY AND BANKRUPTCY CODE, 2016 Last Update 18-8-2021

rz} ro Sto QeTo_ 07)o4/0007/2003-_19 REGISTERED NQ. DL_(N040007/2003_19 9RT 465R 757 @he Gazette f Zndia 3THTMRU EXTRAORDNNARY H10T MI = *ug 1 PART II- Section 1 gifuaR # 4ara PUBLISHED BY AUTHORITY Fo 76] 7 fvct, PIR; favrar 28, 2019/t 7, 1941 (?a No: 76] NEW DELHL; SATURDAY, DECEMBER 28, 2019/PAUSHA 7, 1941 (SAKA) 5 H # fiF7 9r3 7CA & va & fiRA f4 4 3TrTTT 7oTTV & 7q 4 7u M 745 | 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 28th December; 2019/Pausha 7, 1941 (Saka) THE INSOLVENCYAND BANKRUPTCY CODE (AMENDMENT) ORDINANCE, 2019 No. 16 OF 2019 Promulgated by the President in the Seventieth Year of the Republic of India. An Ordinance further to amend the Insolvency and Bankruptcy Code, 2016. WHEREAS a need was felt to give the highest priority in repayment to last mile funding to corporate debtors to prevent insolvency in case the company goes into corporate insolvency resolution process Or liquidation, to provide immunity against prosecution of the corporate debtor, to prevent action against the property of such corporate debtor and the successful resolution applicant subject to fulfilment of' certain conditions and to fill the critical gaps in the corporate insolvency framework; it has become necessary to amend certain provisions of the Insolvency and Bankruptcy Code, 2016; THE GAZETTE OF INDIAEXTRAORDINARY [PART II AND WHEREAS the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 has been introduced in the House of the People on the 12th day of December; 2019; AND WHEREAS the aforesaid Bill could not be taken up for consideration and passing in the House of the People; AND WHEREAS Parliament is not in session and the President is satisfied that