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of <h1>Omission of Section 269 ends Companies Act Rehabilitation and Insolvency Fund, shifting sick company support to new framework</h1> Section 269 of the Companies Act, 2013, which earlier established the Rehabilitation and Insolvency Fund for sick companies, has been omitted with effect from 15 November 2016 by the Insolvency and Bankruptcy Code, 2016. Previously, this provision created a statutory fund financed by government grants, company contributions, other sources, and investment income, to support rehabilitation, revival, and liquidation of sick companies. Contributing companies could apply to the Tribunal to withdraw up to their contribution to pay workmen, protect assets, or cover incidental costs during insolvency-related proceedings. The Fund was to be managed by an administrator appointed by the Central Government.
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