Category: bankruptcy
Commencement of Disciplinary Proceeding under The Insolvency and Bankruptcy Code 2016-clarification by IBBI The Insolvency and Bankruptcy Code, 2016 (Code) envisages that an insolvency professional may be appointed as interim resolution professional, resolution professional, liquidator, or a bankruptcy trustee if no disciplinary proceeding is pending against him. The …
Process to be followed for registration as Registered Valuer with Insolvency and Bankruptcy Board (IBBI) of India under the Companies (Registered Valuers and Valuation) Rules, 2017 With an objective to familiarise the eligible and desirous individuals and entities with the process of registration as a valuer with the Insolvency …
Resolution professional doesn’t require nod of shareholders/members for insolvency resolution Ministry vide its circular no. IBC/01/2017 dated 25.10.2017 clarified that Section 30 and 31 of the Code provide a detailed procedure from the time of receipt of resolution plan by the resolution professional to its approval by the …
Insolvency and Bankruptcy Board of India (IBBI) invites comments on draft IBBI (Mechanism for Issuing Regulations) Regulations, 2018. Comments may be e-mailed at feedback@ibbi.gov.in by 31st March, 2018, with subject line “Mechanism for Issuing Regulations”. The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section …
Amendment to IBBI Fast Track Insolvency Resolution Process for Corporate Persons Regulations 2017 The Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 According to the Amendments, The Resolution Professional shall …
Insolvency and Bankruptcy Code 2016 to apply to personal guarantors to corporate debtors. Wilful defaulter, NPA Account holders, disqualified directors not eligible to be resolution applicant. The Government has notified the Insolvency and Bankruptcy Code (Amendment) Act, 2017 retrospectively and it shall be deemed to have come into …
Fee of insolvency professional shall be paid to his bank account- Insolvency and Bankruptcy Board of India has issued a circular on the subject of Fees payable to an insolvency professional and to other professionals appointed by an insolvency professionals. Section 206 of the Insolvency and Bankruptcy Code, 2016 (Code) provides …
Insolvency professional to use Registration Number and Registered Address in all his communications with his name, address email and capacity In a recent circular Insolvency and Bankruptcy Board of India (IBBI) has directed that in all his communications, whether by way of public announcement or otherwise to a …
Insolvency professional to ensure compliance with applicable laws. Loss or penalty for non-compliance do not form part of insolvency resolution process cost A corporate person undergoing insolvency resolution process, fast track insolvency resolution process, liquidation process or voluntary liquidation process under the Insolvency and Bankruptcy Code, 2016 (Code) …
Insolvency professional not to outsource his responsibilities. The Code read with regulations do not envisage such a certification from a third person. The Insolvency and Bankruptcy Code, 2016 (Code) read with regulations made thereunder cast specific duties and responsibilities on an insolvency professional. An insolvency professional is required to …
