The Insolvency and Bankruptcy Code, 2016

PART I Preliminary

Section 1: Short title, extent and commencement

“1. (1) This Code may be called the Insolvency and Bankruptcy Code, 2016.

(2) It extends to the whole of India:

Provided that Part III of this Code shall not extend to the State of Jammu and Kashmir.

(3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint:

Provided that different dates may be appointed for different provisions of this Code and any reference in any such provision to the commencement of this Code shall be construed as a reference to the commencement of that provision.”

 
Notifications: 1. Notification S.O.2618(E) dated the 5th August, 2016:

“S.O.2618(E).—In exercise of the powers conferred by the proviso to sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 5th of August, 2016 as the date on which the provisions of sections 188 to 194 (both inclusive) of the said Code shall come into force.”

2. Notification S.O. 2746(E) dated the 19th August, 2016:

“S.O. 2746(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 19th August, 2016 as the date on which the provisions of following sections of the said Code shall come into force:—

(1) section 3

(i) clause (1); (ii) clause (5); (iii) clause (22); (iv) clause (26); (v) clause (28); (vi) clause (37);

(2) section 221; (3) section 222; (4) section 225; (5) section 226; (6) section 230; (7) section 232; (8) section 233; (9) sub-section (1) and clause (zd) of sub-section (2) of section 239; (10) sub-section (1) and clause (zt) of sub-section (2) of section 240; (11) section 241; and (12) section 242.”

3. Notification S.O. 3355(E) dated the 1st November, 2016:

“S.O. 3355(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st November, 2016 as the date on which the provisions of the following sections of the said Code shall come into force:–

(1) section 3 –

(i) clause (2) to clause (4); (ii) clause (6) to clause (21); (iii) clause (23) to clause (25); (iv) clause (27); (v) clause (29) to clause (36);

(2) section 196; (3) section 197; (4) section 223; (5) sub-section (2) of section 239-

(i) clause (ze) to (zh); (ii) clause (zl) to (zm);

(6) sub-section (2) of section 240-

(i) clause (a) to (zm); (ii) clause (zu) to (zzzc);

(7) section 244; (8) section 246 to section 248 [both inclusive]; (9) section 250; and (10) section 252.”

4. Notification S.O. 3453(E) dated the 15th November, 2016:

“S.O. 3453(E).— In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 15th November, 2016 as the date on which the provisions of the following sections of the said Code shall come into force:–

(1) section 199 to section 207 [both inclusive]; (2) sub-section (1) of section 208-

(i) clause (c); (ii) clause (e);

(3) sub-section (2) of section 208; (4) section 217 to section 220 [both inclusive]; (5) section 251; (6) section 253; (7) section 254; and (8) section 255.”

5. Notification S.O.  3594(E) dated the 30th November, 2016:

“S.O. 3594(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st December, 2016 as the date on which the provisions of the following sections of the said Code shall come into force:-

(1) clause (a) to clause (d) of section 2 (except with regard to voluntary liquidation or Bankruptcy); (2) section 4 to section 32 [both inclusive]; (3) section 60 to section 77 [both inclusive]; (4) section 198; (5) section 231; (6) section 236 to section 238 [both inclusive]; and (7) clause (a) to clause (f) of sub-section (2) of section 239. “

6. Notification S.O.  3687(E) dated the 9th December, 2016:

“S.O. 3687(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 15th day of December, 2016 as the date on which the provisions of section 33 to section 54 (both inclusive) of the said Code shall come into force. “

7. Notification S.O.  1005(E) dated the 30th March, 2017 :

“S.O. 1005(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of the following sections of the said Code shall come into force:—

(1) section 59; (2) section 209 to section 215 (both inclusive); (3) sub-section (1) of section 216; and (4) section 234 and section 235.”

8. Notification S.O.  1570(E) dated the 15th May, 2017:

“S.O. 1570(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the ‘Code’), the Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of clause (a) to clause (d) of section 2 of the Code relating to voluntary liquidation or bankruptcy shall come into force.”

9. Notification S.O. 1910(E) dated the 14th June, 2017:

“S.O.1910(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 14th day of June, 2017 as the date on which the provisions of section 55 to section 58 (both inclusive) of the said Code shall come into force.”

10. Notification S.O. 3393(E) dated the 18th October, 2017:

“S.O. 3393(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Companies Act, 2013 (18 of 2013), the Central Government hereby appoints the 18th October, 2017 as the date on which the provisions of section 247 of the said Act shall come into force.”

11. Notification S.O. 1817(E) dated the 1st May, 2018 :

“S.O. 1817(E).—In exercise of the powers conferred by sub-section (3) of Section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st day of May, 2018 as the date on which the provisions of Section 227 to Section 229 (both inclusive) of the said Code shall come into force.”

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