Transfer of pending proceedings: amendment extends the prescribed timeline for transferring company cases under companies and insolvency law. The Central Government amends the Companies (Transfer of Pending Proceedings) Rules, 2016 by substituting the shorter period specified in the proviso to rule 5(1) with a substantially extended period, thereby extending the timeframe for transfer of pending company proceedings to insolvency processes; the amendment is titled Companies (Transfer of Pending Proceedings) Amendment Rules, 2017 and commences on publication in the Official Gazette under powers conferred by the Companies Act and the Insolvency and Bankruptcy Code.
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Transfer of pending proceedings: amendment extends the prescribed timeline for transferring company cases under companies and insolvency law.
The Central Government amends the Companies (Transfer of Pending Proceedings) Rules, 2016 by substituting the shorter period specified in the proviso to rule 5(1) with a substantially extended period, thereby extending the timeframe for transfer of pending company proceedings to insolvency processes; the amendment is titled Companies (Transfer of Pending Proceedings) Amendment Rules, 2017 and commences on publication in the Official Gazette under powers conferred by the Companies Act and the Insolvency and Bankruptcy Code.
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