Regulation 40C - Special provision relating to time-line - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

1 [40C. Special provision relating to time-line. Notwithstanding the time-lines contained in these regulations, but subject to the provisions in the Code, the period of lockdown imposed by the Central Government in the wake of COVID19 outbreak shall not be counted for the purposes of the time-line for any activity that could not be completed due to such lockdown, in relation to a corporate insolvency resolution process. ] ************* NOTES:- 1. Inserted vide Notification No. IBBI/2020-21/GN/REG059 dated 20-04-2020 w.e.f. 29-03-2020