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MCA delegates power under section 247 of CA 2013 to Insolvency and Bankruptcy Board of India

[To be published in the Gazette of India, Extra-ordinary,part-II,section 3, sub-section (ii)]

MINISTRY OF CORPORATE AFFAIRS

Notification

New Delhi, dated the 23rd October,2017

S.O——- (E). -In exercise of the powers conferred by section 458 of the Companies Act, 2013 (18 of 2013), the Central Government hereby delegates the powers and functions vested in it under section 247 of the said Act to the Insolvency and Bankruptcy Board of India, subject to the condition that the central Government may revoke such delegation of powers or it may exercise the powers under the said section if in its opinion such a course of action is necessary in the public interest.

2. This notification shall come into force with effect from the date of its publication in the Official Gazette.

[F . No. 1/ 27 / 2013-CL-V(part-I)]

(Amardeep Singh Bhatia)

Joint Secretary to the Government of India

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