MCA vide Notification No. G.S.R. 175(E) on Tuesday, 28th February, 2017, has notified the Companies (Transfer of Pending Proceedings) Amendment Rules, 2017 which shall come into force on the date of publication in Official Gazette.
Vide said notification Rule 5(1) has been amended stating that in case of Transfer of pending proceedings of Winding up on the ground of inability to pay debts, where petitioner is required to submit any additional information including details of the proposed insolvency professional to the Tribunal within 6 Months, which prior to this notification was 60 days.
The said Rule can be accessed from the following link:MCA NotiNo.GSR175(E)_28.02.2017_Co(TrfofProceding)AmndRules,2017