Government of India
Ministry of Corporate Affairs
Government has constituted the Insolvency Law Committee under the Chairmanship of Secretary, Ministry of Corporate Affairs vide order dated 16.11.2017 to take stock of the functioning and implementation of the code, Identify the Issues that may impact the efficiency of the Corporate Insolvency resolution and liquidation framework prescribed under the code , and make suitable recommendation to address such issues, enhance efficiency of the processes prescribed and for effective implementation of the Code.
First meeting of the ILC was held on 08.12.2017, wherein it was decided to invite suggestions /comments related to provisions of the Code and rules and regulations notified thereunder from stakeholders. Comments and suggestions along with brief justification may be sent through the online facility made available on MCA website upto 10th Januaray , 2018. It is requested that comments / suggestions be provided through this online facility only.