Chambers And PartnersOct 26, 2021MSME’s and Insolvency and Bankruptcy CodeThe Insolvency and Bankruptcy Code (Second Amendment) Ordinance, 2018 has brought relief to the Micro Small and Medium Enterprises (MSME) by relaxing the applicability of the provisions of Section 29A as regards submission of a resolution plan in case of such entities their favour.It is one of the most significant amendments under the Insolvency and Bankruptcy Code and has a wide impact on the whole insolvency resolution regime.Section 29 A of IBC was introduced through an Ordinance and thereafter it brought into force, with the intention to restrain untrustworthy promoters from buying back assets at a subsidized price.Read more at Chambers And Partners
The Insolvency and Bankruptcy Code (Second Amendment) Ordinance, 2018 has brought relief to the Micro Small and Medium Enterprises (MSME) by relaxing the applicability of the provisions of Section 29A as regards submission of a resolution plan in case of such entities their favour.It is one of the most significant amendments under the Insolvency and Bankruptcy Code and has a wide impact on the whole insolvency resolution regime.Section 29 A of IBC was introduced through an Ordinance and thereafter it brought into force, with the intention to restrain untrustworthy promoters from buying back assets at a subsidized price.Read more at Chambers And Partners
