TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Section 240A of Insolvency Code exempts MSMEs from certain Section 29A provisions during insolvency processes. Notifications subject to Parliament.</h1> Section 240A of the Insolvency and Bankruptcy Code, 2016, exempts micro, small, and medium enterprises (MSMEs) from certain provisions of section 29A during the corporate insolvency resolution process or pre-packaged insolvency resolution process. The Central Government may, in the public interest, issue notifications to modify or exempt the application of this Code to MSMEs. Proposed notifications must be presented to Parliament for 30 days, and if both Houses disapprove or suggest modifications, the notification must be adjusted accordingly. Notifications must be submitted to Parliament promptly after issuance. MSMEs are defined as per the Micro, Small and Medium Enterprises Development Act, 2006.
TaxTMI 
TaxTMI 
