Bansi Lal Bhat and A. I. S. Cheema’s terms as Members (Judicial) of NCLAT are extended for a further period as notified by the Central Government.

NCLT mandates automatic case number generation through e-filing portal across all benches from 1 January 2021 under e-courts initiative.

Central Government further extends suspension of CIRP initiation under Section 10A of IBC by three months from 25 December 2020.

Bethala Shantha Vijaya Prakash Kumar’s term as Acting President of NCLT is extended for a further period or until a regular President is appointed, whichever is earlier.

Bethala Shantha Vijaya Prakash Kumar’s tenure as Acting President of NCLT is further extended by one month from 5 September 2020 or until regular appointment.

Government extends suspension of initiation of CIRP under Section 10A of IBC by further three months from 25 September 2020.

Bansi Lal Bhat’s tenure as Officiating Chairperson of NCLAT is extended beyond the initial term until further orders or regular appointment.

NCLT modifies its 12 May 2020 order, requiring filing of default record from Information Utility for Section 7 applications only where such record is available.

NCLT modifies earlier order to require filing of default record from Information Utility only where available, for Section 7 applications.

NCLT directs mandatory filing of default record from Information Utility for all Section 7 applications, with no petition entertained without it.

Central Government increases minimum default threshold for initiating insolvency under IBC to ₹1 crore.

Government notifies debt from Special Window for Affordable and Middle-Income Housing Fund as “financial debt” under IBC to support completion of stalled housing projects.

Amendment Rules, 2020 insert “Filing under Insolvency and Bankruptcy Code, 2016” in Form GNL-2 under Companies (Registration Offices and Fees) Rules, 2014, effective from publication.

Government constitutes NCLAT Chennai Bench to hear appeals from specified southern jurisdictions, designating New Delhi as Principal Bench, effective 18 March 2020.

Bansi Lal Bhat appointed as officiating Chairperson of NCLAT from 15 March 2020 for up to three months, following completion of S. J. Mukhopadhaya’s tenure, or until a regular appointment is made

Government notifies framework for handling third-party assets of financial service providers during insolvency, mandating segregation, continued servicing obligations, and proper return or transfer by the Administrator.

Bethala Shantha Vijaya Prakash Kumar appointed as Acting President of NCLT for up to three months from 5 January 2020, following completion of M. M. Kumar’s tenure, or until a regular appointment is made.

Shri Sudhaker Shukla appointed as Whole Time Member of IBBI from 14 November 2019 for up to five years or until age 65, with a consolidated monthly salary of ₹4 lakh.

Government notifies insolvency and liquidation framework under IBC for NBFCs (including HFCs) with ₹500 crore+ assets, to be conducted with RBI as regulator under prescribed rules.

Central Government notifies 1 December 2019 as the commencement date for specified IBC provisions applicable to personal guarantors to corporate debtors.