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 Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment Bars Insolvency Proceedings for COVID-19 Defaults; Supreme Court Upholds Section 10A of IBC, 2020</h1> The Central Government, responding to the COVID-19 pandemic, amended the Insolvency and Bankruptcy Code (IBC) through the Insolvency and Bankruptcy Code (Second Amendment) Act, 2020. This act introduced Section 10A, prohibiting the initiation of Corporate Insolvency Resolution Processes (CIRP) for defaults occurring on or after March 25, 2020, for a specified period, initially six months, extendable up to a year. The threshold for default was increased to Rs. 1 Crore. The Supreme Court confirmed that this bar does not eliminate the debt or creditors' rights, applying retrospectively to defaults after March 25, 2020.
TaxTMI 
