MCA Appoints 1 Apr. 2017 as Effective Date for Sec. 2(d)(a) of IB Code, 2016

MCA Appoints 1 Apr. 2017 as Effective Date for Provisions of Sec. 2(d)(a) of Insolvency and Bankruptcy Code, 2016

The MCA has appointed 1 Apr. 2017 as the date from which provisions of Section 2(d)(a) of the Insolvency and Bankruptcy Code, 2016 relating to voluntary liquidation or bankruptcy shall come into force, as under:

Effective Date Provisions of Sec. 2(d)(a) of IB Code 2016: MCA Notification dt. 15 May 2017

S.O. 1570(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the ‘Code’), the Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of clause (a) to clause (d) of section 2 of the Code relating to voluntary liquidation or bankruptcy shall come into force.

Explanatory Memorandum: By giving retrospective effect to this notification, it is certified that no one is being adversely affected and giving retrospective effect to this notification is purely procedural in nature.

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