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        IBC

        Regulation 40C - Special provision relating to time-line

        Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
        Chapter X
        RESOLUTION PLAN

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        Timeline suspension: lockdown period excluded from corporate insolvency resolution process timelines under insolvency regulations, subject to the Code. The period of Central Government imposed lockdown due to COVID 19 shall not be counted for the purposes of any time line for activities in a corporate insolvency resolution process that could not be completed because of that lockdown, notwithstanding the time lines in the Regulations and subject to the provisions of the Code; this provision was inserted by a specified IBBI notification.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                        Provisions expressly mentioned in the judgment/order text.

                            Timeline suspension: lockdown period excluded from corporate insolvency resolution process timelines under insolvency regulations, subject to the Code.

                            The period of Central Government imposed lockdown due to COVID 19 shall not be counted for the purposes of any time line for activities in a corporate insolvency resolution process that could not be completed because of that lockdown, notwithstanding the time lines in the Regulations and subject to the provisions of the Code; this provision was inserted by a specified IBBI notification.


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