Power of Central Government to notify financial service providers, etc
Section 227 of the Insolvency and Bankruptcy Code, 2016 deals with power of Central Government to notify financial service providers, etc. Notwithstanding anything to the contrary [contained in this Code] or any other law for the time being in force, the Central Government may, if it considers necessary, in consultation with the appropriate financial sector regulators, notify financial service providers or categories of financial servi The Act was enacted on 28 May 2016.
Notwithstanding anything to the contrary 1[contained in this Code] or any other law for the time being in force, the Central Government may, if it considers necessary, in consultation with the appropriate financial sector regulators, notify financial service providers or categories of financial service providers for the purpose of their insolvency and liquidation proceedings, which may be conducted under this Code, in such manner as may be prescribed.
2[Explanation.--For the removal of doubts, it is hereby clarified that the insolvency and liquidation proceedings for financial service providers or categories of financial service providers may be conducted with such modifications and in such manner as may be prescribed.]
Section 227, The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 1
Related judgements & precedents
These are some judgments that construed this section, and hold precedence value. They hold authority on how to read, interpret and use this section.
-
Vinay Kumar Mittal vs Dewan Housing Finance Corporation LTD
Court's Decision & Legal Precedent
The claims made by depositors in a corporate insolvency resolution process of a financial service provider shall be considered by the Committee of Creditors and the Administrator independently and without being influenced by interim orders passed by courts in related proceedings, and depositors have the right to raise all contentions before the Committee of Creditors, the Administrator, and the NCLT to ensure their interests are protected in accordance with the Insolvency and Bankruptcy Code.
On this section: Provisions enabling RBI to file application for initiating Corporate Insolvency Resolution Process against financial service providers
The holding above is the ratio decidendi as extracted from the judgment by eCourts India, reproduced unaltered — it is a rendering of the court's reasoning, not a substitute for its words. Read the order itself before relying on it.
Judgments citing this section
These may be obiter dicta or a precedent, for you to study. These are the judgments where this section is quoted.
-
… The relevant excerpt of the notification is set out below:- "S.O. 4139(E).—In exercise of the powers conferred by section 227 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government in consultation with the Reserve Bank of India hereby notifies as under: The insolvency resolution and liquidation proceedings of the following categories of financial service providers shall be undertaken in accordance with the …
Made under this section, and citing it
1 instrument states that it was made under this provision — the power to make it comes from here, so a change to any of them changes what this section requires in practice. Newest first.
Another 2 instruments name this provision in its title or its text without being made under it.
- Notification under section 227 read with rule 10 of the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019Notification 2020
- Notification under Section 227 of the Insolvency and Bankruptcy Code, 2016 (dated 18.11.2019)Notification 2019
Questions about Section 227
What have the courts held on Section 227 of the Insolvency and Bankruptcy Code?
Vinay Kumar Mittal vs Dewan Housing Finance Corporation LTD (31 Jan 2020) is the leading judgment on this section among those set out below: Provisions enabling RBI to file application for initiating Corporate Insolvency Resolution Process against financial service providers.
How do I find court cases under Section 227 of the Insolvency and Bankruptcy Code?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Insolvency and Bankruptcy Code 227, section 227 Insolvency and Bankruptcy Code, section 227 of the Insolvency and Bankruptcy Code. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome. 1 reported judgment on this section is set out on this page, beginning with Vinay Kumar Mittal vs Dewan Housing Finance Corporation LTD (31 Jan 2020).
What should I read with Section 227 of the Insolvency and Bankruptcy Code, and has it changed?
1 other provision in this corpus refers back to it. The rules and notifications made under it are where it actually bites, and there is one: most recently Insolvency and Bankruptcy (Insolvency and Bankruptcy Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 dated 15.11.2019 (2019).
When was Section 227 of the Insolvency and Bankruptcy Code enacted?
Section 227 of the Insolvency and Bankruptcy Code, cited as Insolvency and Bankruptcy Code 227, was enacted on 28 May 2016 as Act 31 of 2016. It is in force as at the date shown on this page.
Other sections of this Act
- 240. Power to make regulations2349 words
- 5. Definitions2326 words
- 3. Definitions1381 words
- 29A. Person not eligible to be resolution applicant1152 words
- 239. Power to make rules963 words
- 196. Powers and functions of Board942 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 17 Oct 2026. This page is not a substitute for legal advice.