MCA notified the applicability of Section

Oct 06, 2023 | by TeamLease RegTech Legal Research Team

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Secretarial Compliance The Ministry of Corporate Affairs (MCA) on October 03, 2023, issued a notification to state that the provisions of sub-section (1) of section 14 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), which states “declaration of moratorium for prohibiting of certain items” shall not apply to transactions, arrangements or agreements, under the Convention and the Protocol, relating to aircraft, aircraft engines, airframes and helicopters.