{"id":241177,"date":"2020-12-23T21:49:21","date_gmt":"2020-12-23T16:19:21","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=241177"},"modified":"2020-12-23T21:49:21","modified_gmt":"2020-12-23T16:19:21","slug":"central-govt-extends-the-period-for-suspension-of-initiation-of-corporate-insolvency-resolution-process-by-3-months","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/23\/central-govt-extends-the-period-for-suspension-of-initiation-of-corporate-insolvency-resolution-process-by-3-months\/","title":{"rendered":"Central Govt. extends the period for suspension of initiation of Corporate Insolvency Resolution Process by 3 months"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>S.O.<\/strong> <strong>4638(E)\u2014<\/strong> In exercise of the powers conferred by Section 10A of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby notifies further period of three months from the 25-12-2020, for the purposes of the said section.<\/p>\n<hr \/>\n<p><strong>Ministry of Corporate Affairs<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Notification dt. 22-12-2020]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.O. 4638(E)\u2014 In exercise of the powers conferred by Section 10A of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the 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1205(E).\u2014In exercise of the powers conferred by the proviso to section 4 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby specifies one crore rupees as the minimum amount of default for the purposes of the said section. Ministry of Corporate Affairs [Notification dt.\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":136931,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/06\/16\/insolvency-and-bankruptcy-board-of-india-notifies-fast-track-insolvency-resolution-process-for-corporate-persons-regulations\/","url_meta":{"origin":241177,"position":1},"title":"Insolvency and Bankruptcy Board of India notifies Fast Track Insolvency Resolution Process for Corporate Persons Regulations","author":"Saba","date":"June 16, 2017","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India (IBBI), in exercise of its powers conferred by Sections 58, 196 and 208 read with Section 240 of the Insolvency and Bankruptcy Code, 2016 (Code), has notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":230552,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/06\/05\/president-promulgates-insolvency-and-bankruptcy-code-amendment-ordinance-2020\/","url_meta":{"origin":241177,"position":2},"title":"President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020","author":"Bhumika Indulia","date":"June 5, 2020","format":false,"excerpt":"President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 Insertion of new Section 10 A\u00a0after Section 10. Suspension of initiation of corporate insolvency resolution process. \"Notwithstanding anything\u00a0 contained in Sections 7, 9 and 10, no application for initiation of corporate insolvency process of a corporate debtor shall be filed, for\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95411,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/30\/major-policy-initiatives-and-achievements-of-ministry-of-corporate-affairs-in-2016\/","url_meta":{"origin":241177,"position":3},"title":"Major policy initiatives and achievements of Ministry of Corporate Affairs\u00a0in 2016","author":"Saba","date":"December 30, 2016","format":false,"excerpt":"Following are the major Policy Initiatives and Achievements of the Ministry of Corporate Affairs, Government of India during the Year 2016: 1. To review the Companies Act, 2013 based on implementation experience in line with changing economic environment and initiatives for addressing all concerns with reference to Companies Act, 2013\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223421,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/19\/ibbi-sudhaker-shukla-appointed-as-whole-time-member-of-insolvency-and-bankruptcy-board-of-india\/","url_meta":{"origin":241177,"position":4},"title":"IBBI | Sudhaker Shukla appointed as Whole Time Member of Insolvency and Bankruptcy Board of India","author":"Bhumika Indulia","date":"December 19, 2019","format":false,"excerpt":"S.O. 4479(E).\u2014In exercise of the powers conferred by Section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints Shri Sudhaker Shukla, as Whole Time Member of the Insolvency and Bankruptcy Board of India with effect from 14-11-2019, i.e. date of assumption of the\u2026","rel":"","context":"In &quot;Appointments &amp; Transfers&quot;","block_context":{"text":"Appointments &amp; Transfers","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/appointments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":227031,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/14\/parliament-receives-presidents-assent-for-insolvency-and-bankruptcy-code-amendment-act-2020\/","url_meta":{"origin":241177,"position":5},"title":"Parliament receives President&#8217;s assent for &#8212; Insolvency and Bankruptcy Code (Amendment) Act, 2020","author":"Bhumika Indulia","date":"March 14, 2020","format":false,"excerpt":"Parliament received President's assent for -- Insolvency and Bankruptcy Code (Amendment) Act, 2020 on 13-03-2020. An Act further to amend the Insolvency and Bankruptcy Code, 2016. This Act may be called the Insolvency and Bankruptcy Code (Amendment) Act, 2020. 2. 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