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of <h1>Annual Budget Preparation Mandated by Section 228 of Insolvency and Bankruptcy Code, 2016 for Submission to Central Government</h1> Section 228 of the Insolvency and Bankruptcy Code, 2016 mandates that the Board must prepare its budget annually, detailing estimated receipts and expenditures for the upcoming financial year. This budget must be prepared in a prescribed form and timeframe and then submitted to the Central Government. This provision became effective on May 1, 2018.
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