The Indian government has recently amended the Insolvency and Bankruptcy Code (IBC) through an ordinance. The Insolvency and Bankruptcy Code Ordinance, 2020, came into effect on 5 June 2020, and suspends fresh bankruptcy proceedings against persons impacted because of covid-19 for at least six months, and up to a maximum of one year.
The ordinance inserted section 10A in the code, which prevents companies that are experiencing distress on account of the unprecedented situation from being pushed into insolvency proceedings for any default arising on or after 25 March 2020, for some time.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
你需要登录去解锁本文内容。欢迎注册账号。如果想阅读月刊所有文章，欢迎成为我们的订阅会员成为我们的订阅会员。
