RNI No. GOAENG/2002/6410 Reg. No. G-2/RNP/GOA/32/2018-20
Panaji, 20th December, 2018 (Agrahayana 29, 1940) SERIES I No. 38 PUBLISHED BY AUTHORITY
NOTE
There are two Extraordinary issues to the Official Gazette, Series I No. 37 dated 13-12-2018, namely:–
(1) Extraordinary dated 14-12-2018 from pages 2293 to 2294, Notification No. 5-5-2018-Fin(DMU) regarding Market Borrowing Programme of 2018-19 from Department of Finance (Debt Management Division).
(2) Extraordinary (No. 2) dated 14-12-2018 from pages 2295-2306 Notifications regarding framing of Weekly Lottery Scheme from Department of Finance (Revenue & Control Division).
INDEX
Department Notification/Order Subject Pages 1. Agriculture Add.- 1/11/1/Staff Strength/ Addendum 2307 Dir. & ex officio Joint Secy. /2018-19/D. Agri/1250
2. Law & Judiciary Noti.-10/6/2018-LA-153 The Insolvency and Bankruptcy Code 2308 Joint Secretary
(Amendmend) Ordinance, 2018.
3. Personnel Noti.-1/14/89-PER (Pt. III) R.R.— Directorate of Higher Education 2320 Special Secretary
4.a. Town & Country Planning Ord.- 28/2/TCP/NGPDA/ Final sanctioned staff strength of NGPDA 2322 Chief Town Planner /2018/2336
b. —do— Ord.- 28/2/TCP/NGPDA/ Creation of posts of NGPDA 2323 /2018/2337
GOVERNMENT OF GOA
Department of Agriculture
Directorate of Agriculture
__
Addendum
1/11/1/Staff Strength/2018-19/D. Agri/1250
Read Order No. 1/11/1/Staff Strength/2018-19/D. Agri/979 dated 16-10-2018.
Following paras to be added to the above mentioned Order:
As per the recommendation and approval of the High Level Empowered Committee (H.L.E.C.), the following posts shall stand abolished:
Sr. No. Designation of the post No. of posts to be abolished
1 2
3
Ministerial (Lapsable) Posts OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018 Further, as per the recommendation and approval of the High Level Empowered Committee (H.L.E.C.), the following posts shall stand abolished, upon superannuation/retirement of the incumbent or upon the post falling vacant (for whatever reasons).
Sr. No. Designation of the post No. of posts Name of the official Remarks
1 2 3 4 5
Ministerial (Lapsable) Posts
10. Sweeper 1 Socorina Rebello __ 11. Watchman 3 Kantilal Pauskar __ Gangadhar Sirsat __ Uday Bugde __
Approval of the High Level Empowered Committee (H.L.E.C.) is conveyed vide letter No. 9/16/IDCO/2018-ARD/337 dated 26-10-2018, issued by the Department of Administrative Reforms, Secretariat.
By order and in the name of the Governor of Goa.
Madhav B. Kelkar, Director and ex officio Joint Secretary (Agriculture).
Tonca-Caranzalem, 12th December, 2018.
———ttt———
Department of Law & Judiciary
Legal Affairs Division ___
Notification
10/6/2018-LA-153
The Insolvency and Bankruptcy Code (Amendement) Ordinance, 2018 (Ordinance No. 6 of 2018), which has been promulgated by the President in the Sixty-ninth Year of the Republic of India and published in the Gazette of India, Extraordinary, Part II, Section I, dated 06-06-2018, is hereby published for the general information of the public.
Julio Barbosa Noronha, Joint Secretary
(Law).
Porvorim, 4th July, 2018.
________
MINISTRY OF LAW AND JUSTICE
(Legislative Department)
New Delhi, the 6th June, 2018/Jyaistha
16, 1940 (Saka)
THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ORDINANCE, 2018
No. 6 of 2018
Promulgated by the President in the Sixty-
-ninth Year of the Republic of India.
An Ordinance fur ther to amend the
Insolvency and Bankruptcy Code, 2016.
Whereas the Insolvency and Bankruptcy Code, 2016 (the Code), inter alia, provides for insolvency resolution of corporate persons in a time bound manner for maximisation of value of assets of such persons;
And whereas a need has been felt, inter alia, to balance the interests of various stakeholders in the Code, especially interests of home buyers and micro, small and medium enterprises, promoting resolution over liquidation of corporate debtor by lowering the voting threshold of committee of creditors and streamlining provisions relating to eligibility of resolution applicants;
And whereas Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action;
Now, therefore in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to promulgate the following Ordinance:-
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 20181. Short title and commencement.— This Ordinance may be called the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018.
(2) It shall come into force at once.
31 of 2016.
2. Amendment of section 3.—In the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the principal Act), in section 3, in clause (12), for the word "repaid", the word "paid" shall be substituted.
3. Amendment of section 5. — In section 5
of the principal Act,-
(i) after clause (5), the following clause
shall be inserted, namely:—
'(5A) "corporate guarantor" means a corporate person who is the surety in a contract of guarantee to a corporate debtor;';
(ii) in clause (8), in sub-clause (f), the following Explanation shall be inserted, namely:—
Explanation.— For the purposes of this
sub-clause,—
(i) any amount raised from an allottee under a real estate project shall be deemed to be an amount having the commercial effect of a borrowing; and
(ii) the expressions, "allottee" and "real estate project" shall have the meanings respectively assigned to them in clauses (d) and (zn) of section 2 of the Real Estate (Regulation and Development) Act, 2016;';
16 of 2016.
(iii) in clause (21), for the word "repayment", the word "payment" shall be substituted;
(iv) after clause (24), the following
clause shall be inserted, namely:—
'(24A) "related party", in relation to
an individual, means—
(a) a person who is relative of the individual or a relative of the spouse of the individual;
(b) a partner of a limited liability par tnership, or a limited liability partnership or a partnership firm, in which the individual is a partner;
(c) a person who is a trustee of a trust in which the beneficiary of the trust includes the individual, or the terms of the trust confers a power on the trustee which may be exercised for the benefit of the individual;
(d) a private company in which the individual is a director and holds along with his relatives, more than two per cent. of its share capital;
(e) a public company in which the individual is a director and holds along with relatives, more than two per cent. of its paid-up share capital;
(f) a body corporate whose board of directors, managing director or manager, in the ordinary course of business, acts on the advice, directions or instructions of the individual;
(g) a limited liability partnership or a partnership firm whose partners or employees in the ordinary course of business, act on the advice, directions or instructions of the individual;
(h) a person on whose advice, directions or instructions, the individual is accustomed to act;
(i) a company, where the individual or the individual along with its related party, own more than fifty per cent. of the share capital of the company or controls the appointment of the board of directors of the company.
Explanation.— For the purposes of this
clause,—
(a) "relative", with reference to any person, means anyone who is related to another, in the following manner, namely:—
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018(i) members of a Hindu Undivided
Family,
(ii) husband,
(iii) wife,
(iv) father,
(v) mother,
(vi) son,
(vii) daughter,
(viii) son's daughter and son,
(ix) daughter's daughter and son,
(x) grandson's daughter and son,
(xi) granddaughter's daughter and
son,
(xii) brother,
(xiii) sister,
(xiv) brother's son and daughter,
(xv) sister's son and daughter,
(xvi) father's father and mother,
(xvii) mother's father and mother,
(xviii) father's brother and sister,
(xix) mother's brother and sister;
and
(b) wherever the relation is that of a son, daughter, sister or brother, their spouses shall also be included;'.
4. Amendment of section 7.— In section 7 of the principal Act, in sub-section (1), for the words "other financial creditors", the words "other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government," shall be substituted.
5. Amendment of section 8.—In section 8
of the Principal Act,—
a) in sub-section (2),—
(i) in clause (a), for the words "if any, and", the words "if any, or" shall be substituted;
(ii) in clause (b), for the word "repayment", the word "payment" shall be substituted;
(b) in the Explanation, for the word "repayment", the word "payment" shall be substituted.
6. Amendment of Section 9.— In section 9
of the Principal Act,—
(a) in sub-section (3),—
(i) in clause (c), for the words "by the corporate debtor; and", the words "by the corporate debtor, if available;" shall be substituted;
(ii) for clause (d), the following clauses
shall be substituted, namely:—
"(d) a copy of any record with information utility confirming that there is no payment of an unpaid operational debt by the corporate debtor, if available; and
(e) any other proof confirming that there is no payment of an unpaid operational debt by the corporate debtor or such other information, as may be prescribed.";
(b) in sub-section (5),—
(A) in clause (i), in sub-clause (b), for the word "repayment", the word "payment" shall be substituted;
(B) in clause (ii), in sub-clause (b), for the word "repayment", the word "payment" shall be substituted.
7. Amendment of section l0. — In section
10 of the principal Act, —
(a) for sub-section (3), the following sub-
section shall be substituted, namely:—
"(3) The corporate applicant shall,
along with the application, furnish:—
(a) the information relating to its books of account and such other OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018 documents for such period as may be specified;
(b) the information relating to the resolution professional proposed to be appointed as an interim resolution professional; and
(c) the special resolution passed by shareholders of the corporate debtor or the resolution passed by at least three-fourth of the total number of partners of the corporate debtor, as the case may be, approving filing of the application.";
(b) in sub-section (4),—
(i) in clause (a), after the words "if it is complete", the words "and no disciplinar y proceeding is pending against the proposed resolution professional" shall be inserted;
(ii) in clause (b), after the words "if it is incomplete", the words "or any disciplinar y proceeding is pending against the proposed resolution professional" shall be inserted.
8. Amendment of section 12.— In section 12 of the principal Act, in sub-section (2), for the word "seventy-five", the word "sixty-six" shall be substituted.
9. Insertion of new section 12.— After section 12 of the principal Act, the following section shall be inserted, namely:—
"12A. Withdrawal of application admitted under section 7, 9 or 10.— The Adjudicating Authority may allow the withdrawal of application admitted under section 7 or section 9 or section 10, on an application made by the applicant with the approval of ninety per cent. voting share of the committee of creditors, in such manner as may be prescribed.".
10. Amendment of Section 14 — In section 14 of the principal Act, for sub-section (3), the following sub-section shall be substituted, namely:—
"(3) The provisions of sub-section (1)
shall not apply to—
(a) such transaction as may be notified by the Central Government in consultation with any financial regulator;
(b) a surety in a contract of guarantee
to a corporate debtor.".
11. Amendment of section 15.— In section 15 of the principal Act, in sub-section (1), in clause (c), for the word "claims", the words "claims, as may be specified" shall be substituted.
12. Amendment of section 16.— In section 16 of the principal Act, in sub-section (5), for the words "shall not exceed thirty days from date of his appointment", the words and figures "shall continue till the date of appointment of the resolution professional under section 22" shall be substituted.
13. Amendment of section 17.— In section 17 of the principal Act, in sub-section (2),—
(i) in clause (d), for the words "may be specified.", the words "may be specified; and" shall be substituted;
(ii) after clause (d), the following clause
shall be inserted, namely:—
(e) be responsible for complying with the requirements under any law for the time being in force on behalf of the corporate debtor.".
14. Amendment of section 18.— In section 18 of the Principal Act, in the Explanation, for the word "sub-section", the word "section" shall be substituted.
15. Amendment of section 21.—In section
21 of the principal Act,—
(i) in sub-section (2),—
(a) in the proviso, for the words "related party to whom a corporate debtor owes a financial debt", the words "financial creditor or the authorised OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018 representative of the financial creditor referred to in sub-section (6) or sub- -section (6A) or sub-section (5) of section 24, if it is a related party of the corporate debtor," shall be substituted;
(b) after the proviso, the following proviso shall be inserted, namely:—
"Provided further that the first proviso shall not apply to a financial creditor, regulated by a financial sector regulator, if it is a related party of the corporate debtor solely on account of conversion or substitution of debt into equity shares or instruments convertible into equity shares, prior to the insolvency commencement date.";
(ii) in sub-section (3), for the word "Where", the words, brackets and figures and letter "Subject to sub-sections (6) and (6A), where" shall be substituted;
(iii) in sub-section (6), in the opening portion, the words "or issued as securities" shall be omitted;
(iv) after sub-section (6), the following sub-sections shall be inserted, namely:—
"(6A) Where a financial debt—
(a) is in the form of securities or deposits and the terms of the financial debt provide for appointment of a trustee or agent to act as authorised representative for all the financial creditors, such trustee or agent shall act on behalf of such financial creditors;
(b) is owed to a class of creditors exceeding the number as may be specified, other than the creditors covered under clause (a) or sub- section (6), the interim resolution professional shall make an application to the Adjudicating Authority along with the list of all financial creditors, containing the name of an insolvency professional, other than the interim resolution professional, to act as their authorised representative who shall be appointed by the Adjudicating Authority prior to the first meeting of the committee of creditors;
(c) is represented by a guardian, executor or administrator, such person shall act as authorised representative on behalf of such financial creditors,
and such authorised representative under clause (a) or clause (b) or clause (c) shall attend the meetings of the committee of creditors, and vote on behalf of each financial creditor to the extent of his voting share.
(6B) The remuneration payable to the authorised representative—
(i) under clauses (a) and (c) of sub-section (6A), if any, shall be as per the terms of the financial debt or the relevant documentation; and
(ii) under clause (b) of sub-section (6A) shall be as specified which shall be jointly borne by the financial creditors.";
(v) for sub-sections (7) and (8), the following sub-sections shall be substituted, namely:—
(7) The Board may specify the manner of voting and the determining of the voting share in respect of financial debts covered under sub-sections (6) and (6A).
(8) Save as otherwise provided in this Code, all decisions of the committee of creditors shall be taken by a vote of not less than fifty-one per cent of voting share of the financial creditors:
Provided that where a corporate debtor does not have any financial creditors, the committee of creditors shall be constituted and shall comprise of such persons to exercise such functions in such manner as may be specified.".
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 201816. Amendment of section 22.— In section
22 of the principal Act,—
(a) in sub-section (2), for the word, "seventy-five", the word "sixty-six'' shall be substituted;
(b) in sub-section (3),—
(i) in clause (a), af ter the words "resolution professional", the words "subject to a written consent from the interim resolution professional in the specified form" shall be inserted;
(ii) in clause (b), after the words "appointment of the proposed resolution professional", the words "along with a written consent from the proposed resolution professional in the specified form" shall be inserted.
17. Amendment of section 23. — In section 23 of the principal Act, in sub-section (1), the following proviso shall be inserted, namely:—
"Provided that the resolution professional shall, if the resolution plan under sub-section (6) of section 30 has been submitted, continue to manage the operations of the corporate debtor after the expir y of the corporate insolvency resolution process period until an order is passed by the Adjudicating Authority under section 31.".
18. Amendment of section 24.— In section
24 of the principal Act,
(i) in sub-section (3), in clause (a), for the words "Committee of creditors", the words, brackets, figures and letter "committee of creditors, including the authorised representatives referred to in sub-sections (6) and (6A) of section 21 and sub-section (5)" shall be substituted;
(ii) in sub-section (5), for the words "Any creditor", the words, brackets, figures and letters "Subject to sub-sections (6), (6A) and (6B) of section 21, any creditor" shall be substituted.
19. Insertion of new section 25A.— After section 25 of the principal Act, the following section shall be inserted, namely:—
'25A. Rights and duties of authorised representative of financial creditors.— (1) The authorised representative under sub-section (6) or sub-section (6A) of section 21 or sub-section (5) of section 24 shall have the right to participate and vote in meetings of the committee of creditors on behalf of the financial creditor he represents in accordance with the prior voting instructions of such creditors obtained through physical or electronic means.
(2) It shall be the duty of the authorised representative to circulate the agenda and minutes of the meeting of the committee of creditors to the financial creditor he represents.
(3) The authorised representative shall not act against the interest of the financial creditor he represents and shall always act in accordance with their prior instructions:
Provided that if the authorised representative represents several financial creditors, then he shall cast his vote in respect of each financial creditor in accordance with instructions received from each financial creditor, to the extent of his voting share:
Provided further that if any financial creditor does not give prior instructions through physical or electronic means, the authorised representative shall abstain from voting on behalf of such creditor.
(4) The authorised representative shall file with the committee of creditors any instructions received by way of physical or electronic means, from the financial creditor he represents, for voting in accordance therewith, to ensure that the appropriate voting instructions of the financial creditor he represents is correctly recorded by the interim resolution OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018 professional or resolution professional, as the case may be.
Explanation.— For the purposes of this section, the "electronic means" shall be such as may be specified.'.
20. Amendment of section 27.— In section 27 of the principal Act, for sub-section (2), the following sub-section shall be substituted, namely:—
"(2) The committee of creditors may, at a meeting, by a vote of sixty-six per cent. of voting shares, resolve to replace the resolution professional appointed under section 22 with another resolution professional, subject to a written consent from the proposed resolution professional in the specified form.".
21. Amendment of section 28.— In section 28 of the principal Act, in sub-section (3), for the word, "seventy-five", the word "sixty- six" shall be substituted.
22. Amendment of section 29A.— In section
29A of the principal Act,—
(i) in clause (c),—
(A) for the words "has an account,", the words "at the time of submission of the resolution plan has an account," shall be substituted;
(B) after the words and figures "the Banking Regulation Act, 1949", the words "or the guidelines of a financial sector regulator issued under any other law for the time being in force," shall be inserted;
(C) after the proviso, the following
shall be inserted, namely:—
"Provided further that nothing in this clause shall apply to a resolution applicant where such applicant is a financial entity and is not a related party to the corporate debtor.
Explanation I.— For the purposes of this proviso, the expression "related party" shall not include a financial entity, regulated by a financial sector regulator, if it is a financial creditor of the corporate debtor and is a related party of the corporate debtor solely on account of conversion or substitution of debt into equity shares or instruments convertible into equity shares, prior to the insolvency commencement date.
Explanation II. — For the purposes of this clause, where a resolution applicant has an account, or an account of a corporate debtor under the management or control of such person or of whom such person is a promoter, classified as non- performing asset and such account was acquired pursuant to a prior resolution plan approved under this Code, then, the provisions of this clause shall not apply to such resolution applicant for a period of three years from the date of approval of such resolution plan by the Adjudicating Authority under this Code;";
(ii) for clause (d), the following clause
shall be substituted, namely:—
"(d) has been convicted for any offence punishable with imprisonment—
(i) for two years or more under any Act specified under the Twelfth Schedule; or
(ii) for seven years or more under any
other law for the time being in force:
"Provided that this clause shall not apply to a person after the expiry of a period of two years from the date of his release from imprisonment:
Provided further that this clause shall not apply in relation to a connected person referred to in clause (iii) of Explanation I;";
(iii) in clause (e), the following proviso
shall be inserted, namely:—
"Provided that this clause shall not apply in relation to a connected person referred to in clause (iii) of Explanation I;
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018(iv) in clause (g), the following proviso
shall be inserted, namely:—
"Provided that this clause shall not apply if a preferential transaction, undervalued transaction, extortionate credit transaction or fraudulent transaction has taken place prior to the acquisition of the corporate debtor by the resolution applicant pursuant to a resolution plan approved under this Code or pursuant to a scheme or plan approved by a financial sector regulator or a court, and such resolution applicant has not otherwise contributed to the preferential transaction, under valued transaction, extortionate credit transaction or fraudulent transaction;";
(v) in clause (h),—
(A) for the words "an enforceable guarantee", the words "a guarantee" shall be substituted;
(B) after the words "under this Code", the words "and such guarantee has been invoked by the creditor and remains unpaid in full or part" shall be inserted;
(vi) in clause (i), for the words "has been", the word "is" shall be substituted;
(vii) the Explanation occurring after clause (j) shall be numbered as Explanation I, and in Explanation I as so numbered, for the proviso, the following provisos shall be substituted, namely:—
'Provided that nothing in clause (iii) of Explanation I shall apply to a resolution applicant where such applicant is a financial entity and is not a related party of the corporate debtor:
Provided further that the expression "related party" shall not include a financial entity, regulated by a financial sector regulator, if it is a financial creditor of the corporate debtor and is a related party of the corporate debtor solely on account of conversion or substitution of debt into equity shares or instruments convertible into equity shares, prior to the insolvency commencement date;';
(viii) after Explanation I as so numbered, the following Explanation shall be inserted, namely:—
'Explanation II—For the purposes of this section, "financial entity" shall mean the following entities which meet such criteria or conditions as the Central Government may, in consultation with the financial sector regulator, notify in this behalf, namely:—
(a) a scheduled bank;
(b) any entity regulated by a foreign central bank or a securities market regulator or other financial sector regulator of a jurisdiction outside India which jurisdiction is compliant with the Financial Action Task Force Standards and is a signatory to the International Organisation of Securities Commissions Multilateral Memorandum of Understanding;
42 of 1999.
(c) any investment vehicle, registered foreign institutional investor, registered foreign portfolio investor or a foreign venture capital investor, where the terms shall have the meaning assigned to them in regulation 2 of the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 made under the Foreign Exchange Management Act, 1999;
(d) an asset reconstruction company registered with the Reserve Bank of India under section 3 of the Securitisation and Re- construction of Financial Assets and Enforcement of Security Interest Act, 2002; 54 of 2002.
(e) an Alternate Investment Fund registered with the Securities and Exchange Board of India;
(f) such categories of persons as may be notified by the Central Government.".
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 201823. Amendment of section 30.— In section
30 of the Principal Act,—
(i) in sub-section (1), after the words "resolution plan", the words, figures and letter "along with an affidavit stating that he is eligible under section 29A" shall be inserted;
(ii) in sub-section (2),—
(A) in clauses (a) and (b), for the word "repayment" at both the places where it occurs, the word "payment" shall be substituted;
(B) after clause (f), the following
Explanation shall be inserted, namely:—
18 of 2013.
"Explanation.— For the purposes of clause (e), if any approval of shareholders is required under the Companies Act, 2013 or any other law for the time being in force for the implementation of actions under the resolution plan, such approval shall be deemed to have been given and it shall not be a contravention of that Act or law.";
(iii) in sub-section (4),—
(a) for the word "seventy-five", the
word "sixty-six" shall be substituted;
(b) after the third proviso, the following proviso shall be inserted, namely:—
"Provided also that the eligibility criteria in section 29A as amended by the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 shall apply to the resolution applicant who has not submitted resolution plan as on the date of commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance,
2018.".
24. Amendment of section 31.— In section
31 of the Principal Act,—
(a) in sub-section (l), the following
proviso shall be inserted, namely:—
"Provided that the Adjudicating Authority shall, before passing an order for approval of resolution plan under this sub-section, satisfy that the resolution plan has provisions for its effective implementation.'';
(b) after sub-section (3), the following
sub-section shall be inserted, namely:—
"(4) The resolution applicant shall, pursuant to the resolution plan approved under sub-section (1), obtain the necessary approval required under any law for the time being in force within a period of one year from the date of approval of the resolution plan by the Adjudicating Authority under sub- section (1) or within such period as provided for in such law, whichever is later.''.
25. Amendment of section 33.— In section 33 of the Principal Act, in sub-section (2), after the words ''decision of the committee of creditors", the words ''approved by not less than sixty-six per cent of the voting share" shall be inserted.
26. Amendment of section 34.— In section
34 of the Principal Act:—
(a) in sub-section (1), for the words and letter "Chapter II shall", the words and letter "Chapter II shall, subject to submission of a written consent by the resolution professional to the Adjudicatory Authority in specified form," shall be substituted;
(b) in sub-section (4),—
(i) in clause (b), for the words "in writing.", the words "in writing; or" shall be substituted;
(ii) after clause (b), the following
clause shall be inserted, namely:—
"(c) the resolution professional fails to submit written consent under sub- -section (l).";
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018(c) in sub-section (5), for the word, brackets and letter "clause (a)'', the words, brackets and letters "clauses (a) and (c)'' shall be substituted;
(d) in sub-section (6), after the words "another insolvency professional", the words "along with written consent from the insolvency professional in the specified form," shall be inserted.
27. Amendment of section 42.— In section 42 of the Principal Act, after the words "of the liquidator", the words "accepting or" shall be inserted.
28. Amendment of section 45.— In section 45 of the Principal Act, in sub-section (1), the words and figures "of Section 43" shall be omitted.
29. Amendment of section 60.— In section
60 of the Principal Act,—
(a) in sub-section (2), for the words "bankruptcy of a personal guarantor of such corporate debtor", the words "liquidation or bankruptcy of a corporate guarantor or personal guarantor, as the case may be, of such corporate debtor" shall be substituted;
(b) in sub-section (3), for the words "bankruptcy proceeding of a personal guarantor of the corporate debtor", the words "liquidation or bankruptcy proceeding of a corporate guarantor or personal guarantor, as the case may be, of the corporate debtor" shall be substituted.
30. Amendment of section 69.— The words "On or after the insolvency commencement date, if", the word "If" shall be substituted.
31. Amendment of section 76.— In section
76 of the principal Act,—
(a) in the marginal heading, for the word "repayment", the word "payment" shall be substituted;
(b) in clause (a), for the word "repayment", the word "payment" shall be substituted.
32. Amendment of section 196.—In section 196 of the Principal Act, in sub-section (l),—
(i) after clause (a), the following clause
shall be inserted, namely:—
"(aa) promote the development of, and regulate, the working and practices of, insolvency professionals, insolvency professional agencies and information utilities and other institutions, in furtherance of the purposes of this Code;";
(ii) in clause (c), for the words "for the registration", the words "for carrying out the purposes of this Code, including fee for registration and renewal" shall be substituted.
33. Amendment of section 231.— In section 231 of the Principal Act, for the words "Adjudicating Authority" at both the places where they occur, the words "Adjudicating Authority or the Board" shall be substituted.
34. Insertion of new section 238A. — After section 238 of the Principal Act, the following section shall be inserted, namely:—
36 of 1963.
"238A. Limitation.— The provisions of the Limitation Act, 1963 shall, as far as may be, apply to the proceedings or appeals before the Adjudicating Authority, the National Company Law Appellate Tribunal, the Debt Recovery Tribunal or the Debt Recovery Appellate Tribunal, as the case may be.;.
35. Amendment of section 239.— In section 239 of the Principal Act, in sub-section (2),—
(i) after clause (e), the following clause
shall be inserted, namely:—
"(ea) other proof confirming that there is no payment of an unpaid operational debt by the corporate debtor or such other information under clause (e) of sub- section (3) of section 9;";
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018(ii) after clause (f), the following clause
shall be inserted, namely:—
"(fa) the manner of withdrawal of
application under section 12A;".
36. Amendment of section 240.— In section 240 of the Principal Act, in sub-section (2),–
(i) clause (g) shall be omitted;
(ii) after clause (j), the following clause
shall be inserted, namely:—
(ja) the last date for submission of claims under clause (c) of sub-section (l) of section 15;";
(iii) after clause (n), the following clauses
shall be inserted, namely:—
"(na) the number of creditors within a class of creditors under clause (b) of sub-section (6A) of section 21;
(nb) the remuneration payable to authorised representative under clause (ii) of the proviso to sub-section (6B) of section 21;
(nc) the manner of voting and determining the voting share in respect of financial debts under sub-section (7) of section 21;".
37. Insertion of new section 240A.— After section 240 of the Principal Act, the following section shall be inserted, namely:—
240A. Application of this Code to micro, small and medium enterprises.— (1) Notwithstanding anything to the contrary contained in this Code, the provisions of clauses (c) and (h) of section 29A shall not apply to the resolution applicant in respect of corporate insolvency resolution process of any micro, small and medium enterprises.
(2) Subject to sub-section (l), the Central Government may, in the public interest, by notification, direct that any of the provisions of this Code shall-
(a) not apply to micro, small and
medium enterprises; or
(b) apply to micro, small and medium enterprises, with such modifications as may be specified in the notification.
(3) A draft of every notification proposed to be issued under sub-section (2), shall be laid before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions.
(4) If both Houses agree in disapproving the issue of notification or both Houses agree in making any modification in the notification, the notification shall not be issued or shall be issued only in such modified form as may be agreed upon by both the Houses, as the case may be.
(5) The period of thirty days referred to in sub-section (3) shall not include any period during which the House referred to in sub-section (4) is prorogued or adjourned for more than four consecutive days.
(6) Every notification issued under this section shall be laid, as soon as may be after it is issued, before each House of Parliament.
27 of 2006.
Explanation.— For the purposes of this section, the expression "micro, small and medium enterprises" means any class or classes of enterprises classified as such under sub- -section (l) of section 7 of the Micro, Small and Medium Enterprises Development Act, 2006.'.
38. Insertion of new Schedule.— After the Eleventh Schedule to the principal Act, the following Schedule shall be inser ted, namely:—
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018"THE TWELFTH SCHEDULE
(See clause (d) of section 29A)
ACTS FOR THE PURPOSES OF CLAUSE (d) OF SECTION 29A
(1) The Foreign Trade (Development and
Regulation) Act, 1922 (22 of 1922);
(2) The Reserve Bank of lndia Act, 1934 (2 of
1934);
(3) The Central Excise Act, 1944 (1 of 1944);
(4) The Prevention of Food Adulteration Act, 1954
(37 of 1954);
(5) The Essential Commodities Act, 1955 (10 of
1955);
(6) The Securities Contracts (Regulation) Act,
1956 (42 of 1956);
(7) The Income-tax Act, 1961 (43 of 1961);
(8) The Customs Act, 1962 (52 of 1962);
(9) The Water (Prevention and Control of
Pollution) Act, 1974 (6 of 1974);
(10) The Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (52 of 1974);
(11) The Air (Prevention and Control of Pollution)
Act, 1981 (14 of 1981);
(12) The Sick Industrial Companies (Special
Provisions) Act, 1985 (1 of 1986);
(13) The Environment (Protection) Act, 1986 (29
of 1986);
(14) The Prohibition of Benami Property
Transactions Act, 1988 (45 of 1988);
(15) The Prevention of Corruption Act, 1988 (49
of 1988);
(16) The Securities and Exchange Board of India
Act, 1992 (15 of 1992);
(17) The Foreign Exchange Management Act,
1999 (42 of 1999);
(18) The Competition Act, 2002 (12 of 2003);
(19) The Prevention of Money-laundering Act,
2002 (15 of 2003);
(20) The Limited Liability Partnership Act, 2008
(6 of 2009);
(21) The Foreign Contribution (Regulation) Act,
2010 (42 of 2010);
(22) The Companies Act, 2013 (18 of 2013) or any
previous company law·
(23) The Black Money (Undisclosed Foreign
Income and Assets) and Imposition of Tax Act, 2015
(22 of 2015);
(24) The Insolvency and Bankruptcy Code, 2016
(31 of 2016);
(25) The Central Goods and Services Tax Act,
2017 (12 of 2017) and respective State Acts imposing
State goods and services tax;
(26) such other Acts as may be notified by the
Central Government.".
39. Amendment of section 434 of Act 18 of 2013.— (39) In section 434 of the Companies Act, 2013, [as substituted by paragraph 34 of the Eleventh Schedule to the Insolvency and Bankruptcy Code, 2016], in sub-section (l), in clause (c), after the proviso, the following proviso shall be inser ted, namely:—
31 of 2016.
"Provided fur ther that any party or parties to any proceeding relating to the winding up of companies pending before any Court immediately before the commencement of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, may file an application for transfer of such proceedings and the Court may by order transfer such proceedings to the Tribunal and the proceedings so transferred shall be dealt with by the Tribunal as an application for initiation of corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.".
RAM NATH KOVIND, President.
DR. G. NARAYANA RAJU, Secretary to the Govt. of India.
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018Department of Personnel
Notification
1/14/89-PER (Pt. III)
In exercise of the powers conferred by the
proviso to Article 309 of the Constitution of
India, the Governor of Goa hereby makes the
following rules to regulate the recruitment
to the Group 'C', Non-Ministerial,
Non-Gazetted post, in the Directorate of
Higher Education, Government of Goa,
namely:—
1. Short title, application and commence- ment.— (1) These rules may be called the Government of Goa, Directorate of Higher
Education, Group 'C', Non-Ministerial,
Non-Gazetted post, Recruitment Rules,
2018.
(2) They shall apply to the post specified in column (1) of the Schedule to these rules (hereinafter called as the "said
Schedule").
(3) They shall come into force from the date of their publication in the Official
Gazette.
2. Number, classification and level in the pay matrix.— The number of posts,
classification of the said post and the level in
the pay matrix attached thereto shall be as
specified in columns (2) to (4) of the said
Schedule:
Provided that the Government may vary
the number of posts as specified in column (2) of the said Schedule from time to time subject to exigencies of work.
3. Method of recruitment, age limit and other qualifications.— The method of recruitment to the said post, age limit,
qualifications and other matters connected
therewith shall be as specified in columns
(5) to (13) of the said Schedule.
4. Disqualification.— No person who has
entered into or contracted a marriage with a
person having a spouse living or who, having
a spouse living, has entered into or contracted
a marriage with any person, shall be eligible
for appointment to the service:
Provided that the Government may, if
satisfied that such marriage is permissible
under the personal law applicable to such
person and the other party to the marriage
and that there are other grounds for so doing,
exempt any person from the operation of this
rule.
5. Power to relax.— Where, the Government
is of the opinion that it is necessary or
expedient so to do, it may, by order, for
reasons to be recorded in writing, relax any
of the provisions of these rules with respect
to any class or category of persons.
6. Saving.— Nothing in these rules shall
affect reservation, relaxation of age limit and
other concessions required to be provided
for scheduled castes and other special
categories of persons in accordance with the
orders issued by the Government from time
to time in that regard.
By order and in the name of the Governor
of Goa.
Isha Khosla, IAS, Special Secretar y
(Personnel).
Porvorim, 12th December, 2018.
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018 t n ci
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a n OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018
Department of Town and Country Planning
Office of the Chief Town Planner (Admn)
__
Order
28/2/TCP/NGPDA/2018/2336
In supersession of all the previous orders for creation/revival/redesignation/upgradation of the various posts, Government is pleased to indicate the final sanctioned staff strength of the North Goa Planning and Development Authority as under for the next five years:
Sr. No. Designation of the post Pay Scale Sanctioned Strength
(As per VIth Pay Commission)
1 2
3
4
Non-Ministerial (Non-Lapsable) Posts
1. Member Secretary PB-3 Rs. 15600-39100+6600 1 2. Dy. Town Planner PB-3 Rs. 15600-39100+5400 1 3. Assistant Engineer PB-2 Rs. 9300-34800+4600 1 4. Architectural Assistant PB-2 Rs. 9300-34800 +4200 1 5. Junior Engineer PB-1 Rs. 5200-20200+2800 1 6. Planning Assistant PB-2 Rs. 9300-34800+4200 4 7. Planning D'man Gr. I PB-2 Rs. 9300-34800+4200 3 8. Planning D'man Gr. II PB-1 Rs. 5200-20200+2800 4 9. Building Inspector PB-1 Rs. 5200-20200+2800 2 10. Accountant
PB-2 Rs. 9300-34800+4200 1 Ministerial (Lapsable) Posts
11. Head Clerk
PB-2 Rs. 9300-34800+4200 1 12. Jr. Stenographer PB-1 Rs. 5200-20200+2400 1 13. Upper Division Clerk PB-1 Rs. 5200-20200+2400 3 14. Lower Division Clerk PB-1 Rs. 5200-20200+1900 4 15. Multi-Tasking Staff
1S Rs. 4440-7440+1300 4 16. Driver
PB-1 Rs. 5200-20200+1900 2
Total
34
Note: The existing strength of Drivers shall be continued, until further assessment of the vehicle fleet and requirement of the Department, and any vacancies arising during the interim period shall not be filled up on regular basis.
This issues with the approval of the High Level Empowered Committee (H.L.E.C) constituted with the approval of the Council of Ministers in the XXth meeting held on 08-11-2017 vide Order No. 1/1/2017-Addl. Secy(PER) dated 22-11-2017 issued by the Department of Personnel.
Approval of the High Level Empowered Committee (H.L.E.C) is conveyed vide Order No. 9/10/HLEC/2018-ARD dated 14-08-2018 issued by the Additional Secretary, Personnel Department which was forwarded vide letter No. 9/8/IDCO/2018-ARD/346 dated 31-10-2018 by Additional Secretary (ARD).
By order and in the name of the Governor of Goa.
James Mathew, Chief Town Planner and ex officio Joint Secretary (TCP).
Panaji, 11th December, 2018.
OFFICIAL GAZETTE — GOVT. OF GOA SERIES I No. 38 20TH DECEMBER, 2018Order
28/2/TCP/NGPDA/2018/2337
Sanction of the Government is hereby accorded for creation of the following posts in the North Goa Planning and Development Authority as per the details shown below:
Sr. No. Designation of the post Pay Scale No. of Posts
(As per VIth Pay Commission) created 1 2
3
4 Non-Ministerial (Non-Lapsable) Posts
1. Planning D'man Gr. II PB-1 Rs. 5200-20200+2800 4 2. Building Inspector PB-1 Rs. 5200-20200+2800 2 Ministerial (Lapsable) Posts
3. Lower Division Clerk PB-1 Rs. 5200-20200+1900 2 4. Multi-Tasking Staff
1S Rs. 4440-7440+1300 1
Total
09
2. The expenditure on the creation of above posts would be met from the Budget Head of North Goa Planning & Development Authority.
3. This issues with the approval of the High Level Empowered Committee (H.L.E.C) constituted with the approval of the Council of Ministers in the XXth meeting held on 08-11-2017 vide Order No. 1/1/2017-Addl. Secy(PER) dated 22-11-2017 issued by the Department of Personnel.
4. Approval of the High Level Empowered Committee (H.L.E.C) is conveyed vide Order No. 9/10/HLEC/2018-ARD dated 14-08-2018 issued by the Additional Secretary, Personnel Department and forwarded by Additional Secretary (ARD) vide letter No. 9/8/IDCO/2018- ARD/346 dated 31-10-2018.
By order and in the name of the Governor of Goa.
James Mathew, Chief Town Planner and ex officio Joint Secretary (TCP).
Panaji, 11th December, 2018.
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