Question: The Insolvency and Bankruptcy Code, 2016 (Code) was published in the Official Gazette on-
(a) 28 May 2016
(b) 27 May 2016
(C) 26 May 2016
(d) 29 May 2016
Ans: (a)
Related facts:
- On 27 December 2016 Ministry of Corporate Affairs released its Year End Review – 2016.
- Following are the main highlights:
- The Companies (Amendment) Bill, 2016 was introduced in the Lok Sabha on 16th March, 2016 proposing to amend Companies Act, 2013[CA-13].
- On 15th December, 2016 out of 470 sections, 422 sections of the Companies Act, 2013 have been notified. 39 sections are omitted by Insolvency Banking Code (IBC).
- The Insolvency and Bankruptcy Code, 2016 (Code) was published in the Official Gazette on 28th May, 2016.
- Government of India (Allocation of Business) Rules, 1961 were amended and notified on 1st Aug, 2016.
- The constitution of National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCALT) have been notified on 01stJune, 2016.
Reference:
http://pib.nic.in/newsite/PrintRelease.aspx?relid=155871
http://taxheal.com/year-end-review-2016-ministry-corporate-affairs-achievements-422-sections-companies-act-notified.html