The Ministry of Corporate Affairs (MCA) had constituted Insolvency Law Committee to examine the suggestion received and related matters regarding provisions of Insolvency and Bankruptcy Code, 2016.
Thereafter, corrigendum has been issued to clarify that the Committee shall submit its recommendation within three months from its first meeting. It has stated the following:
1. Ministry of Corporate Affairs vide its order dated 16-11-2017 constituted Insolvency Law Committee to examine the suggestions received and related matters regarding provisions of Insolvency and Bankruptcy Code, 2016.
2. This corrigendum is issued to correct inadvertent error in Para 6 or order dated 16-11-2017 as stated above. The revised Para 6 of Order dated 16-11-2017 reads as under:—
"6. The Committee shall submit its recommendations within three months from its first meeting."
3. This issues with the approval of Competent Authority.
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