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Central government has suspended the operation of the Insolvency and Bankruptcy Code by another three months

in National September 25, 2020 Comments Off on Central government has suspended the operation of the Insolvency and Bankruptcy Code by another three months 394 Views

NewDelhi:25/9/20: The Central government has suspended the operation of the Insolvency and Bankruptcy Code, 2016 (IBC) by another three months in order to protect companies in distress due to the COVID pandemic.

A gazette notification issued in this respect said that the suspension of sections 7, 9, and 10 of the IBC Code initially for six months has been further extended for another three months starting from 25th September.

The Code was earlier suspended for six months from 25 March to help the firms recover from the financial distress due to the global pandemic. During the suspension of IBC codes, these firms are protected from being referred to insolvency proceedings.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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