MCA invites feedback on Rules under IBC, 2016
Published: Dec 14, 2017
By TIOLCORPLAWS News Service
NEW DELHI, DEC 14, 2017: AFTER taking stock of the functioning and implementation of the Insolvency and Bankruptcy Code (IBC), the Government of India had constituted the Insolvency Law Committee (ILC) on November 16, 2017. The ILC also identifies the issues that may impact the efficiency of the Corporate Insolvency Resolution and the Liquidation Framework prescribed under the Code, and make suitable recommendations to address such issues, enhance efficiency of the processes prescribed and the effective implementation of the Code.
The Secretary, Ministry of Corporate Affairs (MCA), Mr. Injeti Sriniwas, chaired the First Meeting of the ILC on December 8, 2017 where, it was decided to invite suggestions or comments from stakeholders about the provisions of the IBC and the Rules and Regulations notified thereunder. The comments or suggestions along with brief justification may be sent through the online facility available on MCA website upto January 10, 2018.