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of <h1>Insolvency and Bankruptcy Code amended: New clauses in Section 239 detail application procedures and restrictions for corporate debtors.</h1> Section 239 of the Insolvency and Bankruptcy Code has been amended to include new clauses in sub-section (2). Clause (fd) specifies the form, particulars, manner, and fee for applications made to the Adjudicating Authority under section 54C(2). Clause (fe) outlines the conditions and restrictions for promoters, members, personnel, and partners of the corporate debtor in exercising and discharging their contractual or statutory rights and obligations under section 54H(c). These amendments provide detailed procedural and regulatory guidelines within the insolvency framework.
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