Extent and commencement of the CODE [ Section 1 ]

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....orcement on 28th May 2016. * However the Central Government appointment different date different provisions of this Code and any reference in any such provisions to the commencement of this code shall be construed as a reference to the commencement of that provisions. [ section 1(3) ] * The Central Government Vide it Notification No. S.O. 21618(E) dated 5th August 2016 the Central Government h....

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....tion (2) of section 240; * (11) section 241; and * (12) section 242. Object behind the enactment of the code The object behind the enactment of the Code lie in its preamble, which provides that it is an Act- * To consolidated and Amend the laws relating to Reorganisation and Insolvency Resolution of * Corporate persons, * Partnership firms and * Individuals * In a time bound mann....