Vide an amendment to the Insolvency and Bankruptcy Code, government had stayed all insolvency proceedings in respect of defaults occurring after 25th March, 2020 by a period of six months i.e upto 24th September, 2020.
This is due to the covid pandemic and in order to protect the companies during this dire period.
Now vide another notification issued yesterday, i.e. 24th September, this period has been extended by another 3 months i.e. upto 24th December, 2020.
Copy of the notification is available at the IBBI site.