Extension of Period of Suspension of insolvency Proceedings

MCA vide Notification No. 30/33/2020 has extended the period of suspension of insolvency proceedings.

IBBI stated that 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. Now, this period has been extended for further period of three months from 25th December, 2020