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SC: 2019 Amendment to Section 31 IBC has Retrospective Operation - (14 Apr 2021)


Supreme Court has held that 2019 amendment to Section 31 of the Insolvency and Bankruptcy Code, 2016 has retrospective operation. The Court has stated that the amendment is clarificatory and declaratory in nature and therefore will be effective from the date on which Insolvency and Bankruptcy Code has come into effect.


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