Finance Ministry has clarified that the relevant section of Insolvency and Bankruptcy Code- 2016 which provides for repeal of old Insolvency Acts has not been notified till date. <br/><br/>Also, the provisions related to insolvency resolution and bankruptcy for individuals and partnerships as contained in the new the Code are yet to be notified. <br/><br/>In view of this, the Ministry has asked the stakeholders who intend to pursue their insolvency cases to approach appropriate authority or court instead of approaching the Debt Recovery Tribunals.<br/><br/>The clarification came in the back drop of Writ Petitions being filed before some High Courts stating that Presidency Towns Insolvency Act-1909 and Provincial Insolvency Act- 1920 have been repealed in view of enactment of the Insolvency and Bankruptcy Code. <br/><br/>On this basis, they are claiming that matters related to individual insolvency and bankruptcy should now be dealt under provisions of the new code.