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Section 10A: Suspension of initiation of corporate insolvency resolution process.

The Insolvency and Bankruptcy Code, 2016.Central Act · Act 31 of 2016

[10A. Suspension of initiation of corporate insolvency resolution process.--- Notwithstanding anything contained in sections 7, 9 and 10, no application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed, for any default arising on or after 25th March, 2020 for a period of six months or such further period, not exceeding one year from such date, as may be notified in this behalf:

Provided that no application shall ever be filed for initiation of corporate insolvency resolution process of a corporate debtor for the said default occurring during the said period.

Explanation.--- For the removal of doubts, it is hereby clarified that the provisions of this section shall not apply to any default committed under the said sections before 25th March, 2020.]

Where this provision sits

ActThe Insolvency and Bankruptcy Code, 2016.
Section10A
Marginal noteSuspension of initiation of corporate insolvency resolution process.
JurisdictionCentral
StatusIn force as published by the source
Judgments citing it3

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted, Act 17 of 2020. . Ins. by Act 17 of 2020, s. 2 (w.e.f. 5-6-2020).

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