Section 8 - Amendment of Section 33. - Insolvency and Bankruptcy Code (Amendment) Act, 2019

Amendment of Section 33. 8. In section 33 of the principal Act, in sub-section (2), the following Explanation shall be inserted, namely:- Explanation .-For the purposes of this sub-section, it is hereby declared that the committee of creditors may take the decision to liquidate the corporate debtor, any time after its constitution under sub-section (1) of section 21 and before the confirmation of the resolution plan, including at any time before the preparation of the information memorandum.