a) MCA vide notification dated June 05, 2020 has issued The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020.
b) After section 10 of the principle Act, the following section shall be inserted, namely: –
c) 10A. Notwithstanding anything contained in sections 7, 9 and 10, no application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed, for any default arising on or after 25" March, 2020 for a period of six months or such further period, not exceeding one year from such date, as may be notified in this behalf:
d) Provided that no application shall ever be filed for initiation of corporate insolvency resolution process of a corporate debtor for the said default occurring during the said period.
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