(1) Notwithstanding anything contained in this Code or any law for the time being in force if, in the course of insolvency resolution process, or liquidation or bankruptcy proceedings, as the case may be, under this Code, the resolution professional, liquidator or bankruptcy trustee, as the case may be, is of the opinion that assets of the corporate debtor or debtor, including a personal guarantor of a corporate debtor, are situated in a country outside India with which reciprocal arrangements have been made under section 234, he may make an application to the Adjudicating Authority that evidence or action relating to such assets is required in connection with such process or proceeding.
(2) The Adjudicating Authority on receipt of an application under sub-section (1) and, on being satisfied that evidence or action relating to assets under sub-section (1) is required in connection with insolvency resolution process or liquidation or bankruptcy proceeding, may issue a letter of request to a court or an authority of such country competent to deal with such request.
Insolvency and Bankruptcy Code 2016
Section 231 Bar of jurisdiction
Section 232 Members, officers and employees of Board to the public servants
Section 233 Protection of action taken in good faith
Section 234 Agreements with foreign countries
Section 235 Letter of request to a country outside India in certain cases
Section 236 Trial of offences by Special Court
Section 237 Appeal and revision
Section 238 Provisions of this Code to override other laws