The Insolvency and Bankruptcy Board (IBBI) of India vide its notification dated 20th April 2020 has published the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020 which shall be in force from 29th March 2020.
IBBI has inserted regulation 40C which excludes the ongoing national lockdown period from the time frame specified in the regulation for completing various activities that could not be completed due to such lockdown, in relation to a corporate insolvency resolution process.
Click here to read the notification.
