Applicability of Insolvency and Bankruptcy Code, 2016 [ Section 2 ]

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....rated under the Companies Act, 2013 or under any previous company law; * (b) any other company governed by any special Act for the time being in force, except in so far as the said provisions are inconsistent with the provisions of such special Act; * (c) any Limited Liability Partnership incorporated under the Limited Liability Partnership Act, 2008; * (d) such other body incorporated under....

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....) and (3). * This is what is meant by strengthening the CIRP in the Statement of Objects and Reasons of the Insolvency and Bankruptcy Code (Amendment) Act, 2018. Non-applicability of the Code * The Insolvency & Bankruptcy Code, 2016 is not applicable to corporates in finance sector. Section 3(7) of Insolvency & Bankruptcy Code, 2016 states that "Corporate person" shall not include ....