Section 229
Annual report.
The Insolvency and Bankruptcy Code, 2016.
About this Act
An Act to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues and to establish an Insolvency and Bankruptcy Board of India, and for matters connected therewith or incidental thereto.
(1) The Board shall prepare, in such form and at such time in each financial
year as may be prescribed, its annual report, giving a full account of its activities during the previous
financial year, and submit a copy thereof to the Central Government.
(2) A copy of the report received under sub-section (1) shall be laid, as soon as may be after it is received, before each House of Parliament.
(2) A copy of the report received under sub-section (1) shall be laid, as soon as may be after it is received, before each House of Parliament.