The MCA vide its notification S.O. __ (E) dated 23.10.2017 has delegated the powers and functions vested in it under section 247 of the Companies Act, 2013 to the Insolvency and Bankruptcy Board of India (IBBI), subject to the that the Central Government may revoke such delegation of powers or it may exercise the powers under the said section if in its opinion such a course of action is necessary in the public interest.

The said Notification can be accessed from the following link: MCA Notification 20_S.O(E)_23.10.2017_Delegation of powers_S. 247