Section 10A - Suspension of initiation of corporate insolvency resolution process - Insolvency and Bankruptcy Code, 2016

1 [Suspension of initiation of corporate insolvency resolution process. 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 th 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: 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. Explanation , - For the removal of doubts, it is hereby clarified that the provisions of this section shall not apply to any default committed under the said sections before 25 th March, 2020. ] ************** NOTES:- 1. Inserted vide THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE, 2020 dated 05-06-2020