Panaji, 20th December, 2018 (Agrahayana 29, 1940)

SERIES I No. 38

Reg. No. G-2/RNP/GOA/32/2018-20

RNI No. GOAENG/2002/6410

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

Agriculture

Add.- 1/11/1/Staff Strength/

Addendum

2307

Dir. & ex officio Joint Secy.

/2018-19/D. Agri/1250

Law & Judiciary

Noti.-10/6/2018-LA-153

The Insolvency and Bankruptcy Code

2308

Joint Secretary

(Amendmend) Ordinance, 2018.

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

2307

Suggestions are welcomed on e-mail: dir–[email protected]

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

Ministerial (Lapsable) Posts

Sweeper

Watchman

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2308

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

Ministerial (Lapsable) Posts

10.

Sweeper

Socorina Rebello

11.

Watchman

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 further 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:-

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2309

1. 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.

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;’;

(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

partnership, or a limited liability

partnership or a partnership firm, in

which the individual is a partner;

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:—

31 of 2016.

16 of 2016.

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2310

(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

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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

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

disciplinary 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

disciplinary 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

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2312

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;

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.”.

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16. 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), after 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

expiry 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

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

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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;

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;

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(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, undervalued

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

numbered

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;

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;

(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.”.

42 of 1999.

54 of 2002.

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23. 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:—

“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).”;

18 of 2013.

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 38

20TH DECEMBER, 2018

2317

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

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:—

“238A.

Limitation.—

The

provisions of the Limitation

Act, 1963 shall, as far as may be,

apply

the

proceedings

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;”;

36 of 1963.

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 38

20TH DECEMBER, 2018

2318

(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.

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 inserted,

namely:—

27 of 2006.

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 38

20TH DECEMBER, 2018

2319

“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 inserted,

namely:—

“Provided further that any

party or parties to any proceeding

relating to the winding up

of companies pending before

any Court immediately before

the

commencement

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.

31 of 2016.

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 38

20TH DECEMBER, 2018

2320

Department 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

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 Secretary

(Personnel).

Porvorim, 12th December, 2018.

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 38

20TH DECEMBER, 2018

2321

SCHEDULE

Name/

/desig-

nation of

the post

Age limit

for direct

recruits

Period of

probation, if

any

Method of

recruitment,

whether by direct

recruitment or

by promotion

or by deputation/

/transfer/contract

and percentage

of the vacancies

to be filled by

various methods

In case of recruit-

ment by promotion/

/deputation/

/transfer, grades

from which

promotion/

/deputation/

/transfer is

to be made

Educational

and other

qualifications

required for

direct recruits

Classifi-

cation

Whether age & educational

qualifications prescribed for the

direct recruits will apply in the

case of promotees

Number

posts

Level in

the Pay

Matrix

If a

D.P.C.

exists,

what is its

compo-

sition

Circum-

stances in

which the

Goa Public

Service

Commission

is to be

consulted in

making

recruitment

(2018)

(Subject

variation

depen-

dent on

workload).

Selec-

tion.

Group ‘C’

Non-

Gazetted,

Non-Mini-

sterial.

L-5.

Not exceeding

45 years

(Relaxable for

Government

servants upto

five years in

accordance

with the

instructions or

orders issued

by the

Government

from time to

time).

Age: No.

Educa-

tional

Qualifi-

cations:

Yes.

Two years. By promotion,

failing which,

by transfer on

deputation and

failing both, by

direct recruit-

ment.

Auditor

Promotion:

Upper Division Clerk

with three years of

regular service in the

grade.

Transfer on Deputation:

Person holding

analogous post under

the State Government on

regular basis.

Essential:

(i) Bachelor of

Commerce from a

r e c o g n i z e d

University with

Accountancy and

Auditing.

(ii) Knowledge of

Konkani.

Desirable:

Knowledge

Marathi

Whether

selection

post or

non-

-selection

post

Group

‘C’,

D.P.C./

/D.S.C.

N. A.

12 13

OFFICIAL GAZETTE — GOVT. OF GOA

SERIES I No. 38

20TH DECEMBER, 2018

2322

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)

Non-Ministerial (Non-Lapsable) Posts

Member Secretary

PB-3 Rs. 15600-39100+6600

Dy. Town Planner

PB-3 Rs. 15600-39100+5400

Assistant Engineer

PB-2 Rs. 9300-34800+4600

Architectural Assistant

PB-2 Rs. 9300-34800 +4200

Junior Engineer

PB-1 Rs. 5200-20200+2800

Planning Assistant

PB-2 Rs. 9300-34800+4200

Planning D’man Gr. I

PB-2 Rs. 9300-34800+4200

Planning D’man Gr. II

PB-1 Rs. 5200-20200+2800

Building Inspector

PB-1 Rs. 5200-20200+2800

10.

Accountant

PB-2 Rs. 9300-34800+4200

Ministerial (Lapsable) Posts

11.

Head Clerk

PB-2 Rs. 9300-34800+4200

12.

Jr. Stenographer

PB-1 Rs. 5200-20200+2400

13.

Upper Division Clerk

PB-1 Rs. 5200-20200+2400

14.

Lower Division Clerk

PB-1 Rs. 5200-20200+1900

15.

Multi-Tasking Staff

1S Rs. 4440-7440+1300

16.

Driver

PB-1 Rs. 5200-20200+1900

Total

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, 2018

2323

Order

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

Non-Ministerial (Non-Lapsable) Posts

Planning D’man Gr. II

PB-1 Rs. 5200-20200+2800

Building Inspector

PB-1 Rs. 5200-20200+2800

Ministerial (Lapsable) Posts

Lower Division Clerk

PB-1 Rs. 5200-20200+1900

Multi-Tasking Staff

1S Rs. 4440-7440+1300

Total

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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