The Government of India, through the Ministry of Corporate Affairs, has issued a notification G.S.R. 563(E) on September 10, 2020, amending the Insolvency and Bankruptcy Board of India (IBBI) Annual Report Rules, 2018. These amendments, termed the Insolvency and Bankruptcy Board of India Annual Report Amendment Rules, 2020, are enacted in exercise of powers conferred by section 239(2)(zm) read with section 229(1) of the Insolvency and Bankruptcy Code, 2016.
The key change pertains to the time schedule for the submission of the IBBI's annual report. Rule 4 of the 2018 Rules is substituted with a revised timeline. The approved and authenticated annual accounts are to be made available to the concerned Audit Office, with the audit commencing by June 30th. The final Separate Audit Report (SAR) in English, along with the Audit Certificate, is to be issued to the IBBI by October 31st. The submission of the annual report and audited accounts to the Ministry of Corporate Affairs, for presentation to the Parliament, is mandated by December 31st.
The notification is issued under F. No. 30/13/2018-Insolvency and signed by Gyaneshwar Kumar Singh, Joint Secretary. The principal rules were initially published under G.S.R. 422(E) on May 1, 2018. The amendment rules take effect from the date of their publication in the Official Gazette.
Key Entities Referenced
Insolvency and Bankruptcy Code, 2016: A law enacted in 2016 related to insolvency and bankruptcy proceedings.
Insolvency and Bankruptcy Board of India: An organization related to insolvency and bankruptcy regulations in India.
Ministry of Corporate Affairs: A ministry of the Government of India.
New Delhi: The location of notification, New Delhi, Delhi.
Comptroller and Auditor General of India: Constitutional authority in India responsible for auditing government accounts.
Insolvency and Bankruptcy Board of India Annual Report Rules, 2018: Rules pertaining to the annual report of the Insolvency and Bankruptcy Board of India.
Insolvency and Bankruptcy Board of India Annual Report Amendment Rules, 2020: Amendment rules pertaining to the annual report of the Insolvency and Bankruptcy Board of India.
Gyaneshwar Kumar Singh: Joint Secretary of Ministry of Corporate Affairs.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. NO. D. L.-33004/99
सी.जी.-डी.एल.-अ.-16092020-221764
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असाधारण
EXTRAORDINARY
भाग II—खण् ड 3—उप-खण्ड (i)
PART II—Section 3—Sub-section (i)
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 457] नई ददल्ली, बधु वार, जसतम्ब र 16, 2020/भाद्र 25, 1942
No. 457] NEW DELHI, WEDNESDAY, SEPTEMBER 16, 2020/BHADRA 25, 1942
कारपोरेट काय य मत्रं ालय
अजधसचू ना
नई ददल्ली, 10 जसतम् बर, 2020
सा.का.जन. 563(अ).—केंद्रीय सरकार, ददवाला और िोधन अक्षमता संजिता, 2016 (2016 का 31)
की धारा 229 की उपधारा (1) के साथ पठित धारा 239 की उपधारा (2) के खंड (यड) द्वारा प्रदत्त िजियों का
प्रयोग करते हुए, भारतीय ददवाला और िोधन अक्षमता बोड य (वार्षिक ठरपोटय) जनयम, 2018 का संिोधन करन े
के जलए जनम्नजलजखत जनयम बनाती ि,ै अथायत्:-
1. (1) इन जनयमों का संजक्षप्त नाम भारतीय ददवाला और िोधन अक्षमता बोड य (वार्षिक ठरपोटय) संिोधन
जनयम, 2020 ि।ै
(2) ये रािपत्र में इनके प्रकािन की तारीख से प्रवृत्त िोंग।े
2. भारतीय ददवाला और िोधन अक्षमता बोड य (वार्षिक ठरपोटय) जनयम, 2018 में, जनयम 4 के स्ट्थान पर,
जनम्नजलजखत जनयम रखा िाएगा, अथायत:् -
“(4) वार्षिक ठरपोटय प्रस्ट्तुत करने के जलए समय-सारणी,-
भारत के जनयंत्रक मिालेखापरीक्षक द्वारा वार्षिक लेखापरीक्षा प्रमाणपत्र िारी करने के पठरणामस्ट्वरूप
वार्षिक लेखाओं के जनयम 3 में जनर्ददष् ट वार्षिक ठरपोटय प्रस्ट्तुत करने तथा संसद के समक्ष समय पर प्रस्ट्तुत
करने के जलए कारपोरेट काय य मंत्रालय को प्रस्ट्तुत करने की तारीखें नीचे सचू ीबद्ध की गई िैं:-
4297 GI/2020 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)]
(i) भारतीय ददवाला और िोधन अक्षमता बोड य द्वारा संबंजधत लेखा परीक्षा कायायलय को अनुमोददत तथा
अजधप्रमाजणत वार्षिक लेखे उपलब्ध कराना तथा अलग से वार्षिक लेखाओं की लेखा परीक्षा आरंभ करना–30 िून;
(ii) लेखापरीक्षा प्रमाण पत्र सजित अंग्रेिी में पृथक अंजतम लेखापरीक्षा ठरपोटय (एसएआर) भारतीय ददवाला और
िोधन अक्षमता बोड य को िारी करना - 31 अिूबर;
(iii) संसद के पटल पर रखे िाने के जलए कारपोरेट काय य मंत्रालय को वार्षिक ठरपोटय और संपरीजक्षत लेखे प्रस्ट्तुत
करना – 31 ददसंबर।”
[फा. सं. 30/13/2018-इंसोल्वेंसी]
ज्ञानेश्वर कुमार ससि, संयुि सजचव
ठटप् पण : मूल जनयम संखयांक सा.का.जन. 422(अ), तारीख 01 मई, 2018 द्वारा प्रकाजित दकए गए थे।
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 10th September, 2020
G.S.R. 563(E).—In exercise of the powers conferred by clause (zm) of sub-section (2) of
section 239, read with sub-section (1) of section 229 of the Insolvency and Bankruptcy Code,
2016 (31 of 2016), the Central Government hereby makes the following rules to amend the
Insolvency and Bankruptcy Board of India (Annual Report) Rules, 2018, namely:-
1. (1) These rules may be called the Insolvency and Bankruptcy Board of India (Annual Report)
Amendment Rules, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Insolvency and Bankruptcy Board of India (Annual Report) Rules, 2018, for rule 4, the
following rule shall be substituted, namely:-
“(4) Time Schedule for submission of annual report.-
The dates for submission of the annual report referred to in rule 3 of annual accounts for audit
leading to the issue of Audit Certificate by the Comptroller and Auditor General of India and
for submission to the Ministry of Corporate Affairs for timely submission to the Parliament
are listed below:-
(i) approved and authenticated annual accounts to be made available by the Insolvency and
Bankruptcy Board of India to the concerned Audit Office and commencement of audit of annual
accounts- 30th June;
(ii) issue of the final Separate Audit Report (SAR) in English with Audit Certificate to Insolvency
and Bankruptcy Board of India-31st October;
(iii) submission of the annual report and audited accounts to the Ministry of Corporate Affairs for
it to be laid on the Table of the Parliament- 31st December.”
[F. No. 30/13/2018-Insolvency]
GYANESHWAR KUMAR SINGH, Jt. Secy.
Note : The principal rules were published vide number G.S.R. 422(E), dated the 1st May, 2018 .
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.