24 September 2021
Notification dated: 12 August 2021.
Summary:
On 12 August 2021, the Government of India notified the Insolvency and Bankruptcy Code Amendment Act, 2021 (Amendment Act) repealing the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 and amending the provisions of Code.
The Amendment Act provides for Pre-packaged Insolvency Resolution Process of Micro, Small and Medium Enterprises, and shall be deemed to have come into force from 04 April 2021. For details of the Pre-packaged Insolvency Resolution Process of Micro, Small and Medium Enterprises, please click here for our newsletter for the month of April 2021.
