Government of India

Ministry of Corporate Affairs

Insolvency Section

Dated: 12.12.2017

Public Notice

Government has constituted the Insolvency Law Committee under the Chairmanship of Secretary, Ministry Of Corporate Affairs vide order dated 16.11.2017 to take stock of the functioning and implementation of the Code, identify the issues that may impact the efficiency of the corporate insolvency resolution and liquidation framework prescribed under the Code, and make suitable recommendations to address such issues, enhance efficiency of the processes prescribed and for effective implementation of the Code.

First meeting of the ILC was held on 08.12.2017, wherein it was decided to invite suggestions/ comments related to provisions of the Code and rules and regulations notified thereunder from stakeholders. Comments/ suggestions along with brief justification may be sent through the online facility made available on MCA website upto 10th January, 2018. It is requested that comments/ suggestions be provided through this online facility only.

(Rakesh Tyagi)

Director

Insolvency Law Committee review invites stakeholder comments via online portal to improve implementation of insolvency framework. The Government constituted the Insolvency Law Committee to review functioning and implementation of the Insolvency and Bankruptcy Code, identify efficiency issues in corporate insolvency resolution and liquidation, and recommend measures to improve processes. Stakeholders were invited to submit comments and brief justifications exclusively through an online portal on the Ministry's website by the specified deadline to inform the Committee's recommendations.