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Govt. extends suspension on insolvency and bankruptcy proceedings for 3 more months

September 24, 2020
Government has notified an additional period of 3 months for the suspension of initiation of insolvency proceeding against defaulting corporate debtor. The period of additional 3 months will start from Sep 25, 2020. Earlier, the Govt. by way of second amendment had introduced Section 10A to suspend initiation of insolvency process against corporate debtor in respect of default arising on or after announcement of lock down i.e. Mar 25, 2020 till 6 months ending Sep 24, 2020.
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