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Delegation of powers under the Companies Act: central government delegates specified functions to Insolvency and Bankruptcy Board, subject to revocation. The Central Government delegates to the Insolvency and Bankruptcy Board of India the powers and functions vested in it under section 247 of the Companies Act, 2013, subject to a condition that the Central Government may revoke the delegation or exercise those powers itself if it deems such action necessary in the public interest, and the delegation takes effect from publication in the Official Gazette.
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Delegation of powers under the Companies Act: central government delegates specified functions to Insolvency and Bankruptcy Board, subject to revocation.
The Central Government delegates to the Insolvency and Bankruptcy Board of India the powers and functions vested in it under section 247 of the Companies Act, 2013, subject to a condition that the Central Government may revoke the delegation or exercise those powers itself if it deems such action necessary in the public interest, and the delegation takes effect from publication in the Official Gazette.
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