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    <title>Applicability of Insolvency and Bankruptcy Code, 2016 [ Section 2 ]</title>
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    <description>The Code governs insolvency, liquidation and voluntary liquidation of companies, entities under special Acts, limited liability partnerships and other bodies as notified by the Central Government; it also contemplates inclusion of personal guarantors to corporate debtors. Entities defined as financial service providers are excluded from the corporate person definition-covering banks, insurers, mutual funds and similar regulated entities-subject to Central Government notification powers which may bring specified financial entities, including certain non-bank financiers, within insolvency and liquidation proceedings.</description>
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