MCA Excludes Certain Transactions/Contracts from the Purview of Moratorium under IBC
- Blog|News|Insolvency and Bankruptcy Code|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 17 June, 2023
Latest from Taxmann
MCA Notification F. No. Insol-30/1/2023, dated 14.06.2023
The Ministry of Corporate Affairs has notified that the prohibition under moratorium period shall not be applicable to the production sharing contracts, revenue sharing contracts, exploration licenses and mining leases made under the oilfields (Regulation and Development) Act, 1948 (53 of 1948) entered by the corporate debtor.
Further, any transactions, arrangements or agreements, including Joint Operating Agreement, connected or ancillary to the above transactions/arrangements or agreements shall also be excluded.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
