MINISTRY OF LAW AND JUSTICE
New Delhi, the 28th May, 2016/Jyaistha 7, 1938 (Saka)
The following Act of Parliament received the assent of the President on the 28th May, 2016, and is hereby published for general information:—
THE INSOLVENCY AND BANKRUPTCY CODE, 2016
NO. 31 OF 2016
[28th May, 2016.]
An Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto.