1[10A. Suspension of initiation of corporate insolvency resolution process.--- 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 25th 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 25th March, 2020.]
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 25th March, 2020.]
Source footnotes
1. Ins. by Act 17 of 2020, s. 2 (w.e.f. 5-6-2020).आगे पढ़ें / Continue reading
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More sections of this act
Section 1 · Short title, extent and commencement.Section 2 · Application.Section 3 · Definitions.Section 4 · Application of this Part.Section 5 · Definitions.Section 6 · Persons who may initiate corporate insolvency resolution process.Section 7 · Initiation of corporate insolvency resolution process by financial creditor.Section 8 · Insolvency resolution by operational creditor.India Code, Government of India. Text fetched 09 Oct 2026. Source metadata reports last modification: 2024-07-25. Check the linked official text and subsequent notifications when applying a provision.