Circular of the Ministry of Corporate Affairs dated 8th December, 2024 on section 7 of the Insolvency and Bankruptcy Code, 2016 [C10-JYJ]

As at 7 September 2026. In force from 8 December 2024.

Dates: made 8 December 2024; in force 8 December 2024; ceased none recorded. Gazette: none recorded. Band B.

Synthetic. This instrument and its words are generated by the register beneath an Act whose title, number and year are real.

Cite: Circular of the Ministry of Corporate Affairs dated 8th December, 2024 on section 7 of the Insolvency and Bankruptcy Code, 2016, Circular F. No. 21/16/2024 [C10-JYJ]. Machine: C10-JYJ.

F. No. 21/16/2024-MINI

Government of India

Ministry of Corporate Affairs

New Delhi, dated the 8th December, 2024

All Registrars of Companies and Registrars of Companies

Subject: Section 7 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the management of a company, regarding.

1. References have been received in the Ministry of Corporate Affairs seeking clarification on the manner in which section 7 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the Act) is to be applied to directors who undertake the management of a company at more than one place.

2. The matter has been examined. Section 7 of the Act requires every director to make an application to the Registrar of Companies within the period stated in that section.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the management of a company is undertaken, and the Registrar of Companies shall process each application in accordance with section 7 of the Act and the rules made thereunder.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Ministry of Corporate Affairs.

(Under Secretary to the Government of India)

Made under

No enabling provision stated.

Acts on (0)

none

Acted on by (0)

none

Not held (0)

none