Section 235
Letter of request to a country outside India in certain cases.
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) Notwithstanding anything
contained in this Code or any law for the time being in force if, in the course of insolvency resolution
process, or liquidation or bankruptcy proceedings, as the case may be, under this Code, the resolution
professional, liquidator or bankruptcy trustee, as the case may be, is of the opinion that assets of the
corporate debtor or debtor, including a personal guarantor of a corporate debtor, are situated in a country
outside India with which reciprocal arrangements have been made under section 234, he may make an
application to the Adjudicating Authority that evidence or action relating to such assets is required in
connection with such process or proceeding.
(2) The Adjudicating Authority on receipt of an application under sub-section (1) and, on being satisfied that evidence or action relating to assets under sub-section (1) is required in connection with insolvency resolution process or liquidation or bankruptcy proceeding, may issue a letter of request to a court or an authority of such country competent to deal with such request.
(2) The Adjudicating Authority on receipt of an application under sub-section (1) and, on being satisfied that evidence or action relating to assets under sub-section (1) is required in connection with insolvency resolution process or liquidation or bankruptcy proceeding, may issue a letter of request to a court or an authority of such country competent to deal with such request.