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<h1>Applicability of Insolvency Code extended to companies, LLPs, notified bodies, personal guarantors and certain firms.</h1> Section 2 establishes that the Insolvency and Bankruptcy Code applies to companies, entities governed by special Acts where consistent, Limited Liability Partnerships and other notified incorporated bodies in relation to insolvency, liquidation, voluntary liquidation and bankruptcy, and that amendments bring personal guarantors, partnership and proprietorship firms and certain individuals within its scope.