Category: bankruptcy
Timeline for reporting of status of ongoing corporate insolvency resolution processes (CIRPs) through Form CIRP 7 Insolvency and Bankruptcy Board of India7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No.: IBBI/CIRP/41/2021 18th March, 2021 To All Registered Insolvency ProfessionalsAll Recognised Insolvency Professional EntitiesAll Registered Insolvency Professional Agencies …
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2021. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, 15th March, 2021 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2021. No. IBBI/2020-21/GN/REG070.—In exercise of the powers conferred …
Person ineligible u/s 29A of IBC 2016 to submit a resolution plan, also barred from proposing a scheme of compromise and arrangement u/s 230 of the Companies Act 2013 ABCAUS Case Law CitationABCAUS 3473 (2021) (03) SC Important case law relied referred:Swiss Ribbons Private Limited vs. Union of …
IBC is special statute, must prevail over Companies Act 2013. Section 7 IBC Petition maintainable post admission of winding up Petition – SC ABCAUS Case Law CitationABCAUS 3461 (2021) (03) SC Important case law relied referred:Action Ispat and Power Pvt. Ltd. vs Shyam Metalics and Energy Ltd. 2020 …
IBBI prescribes Retention period of records by Insolvency Professional relating to Corporate Insolvency Resolution Process Retention period of records of CIRP Insolvency and Bankruptcy Board of India 7thFloor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No.: IBBI/CIRP/38/2021 6th January, 2021 ToAll Registered Insolvency ProfessionalsAll …
Initiation of CIRP suspended for a further period of three months from 25.12.2020 The Ministry of Corporate Affairs (MCA) vide notification SO. 4638(E) dated 22nd December 2020 has further suspended the initiation of CIRP for a further period of three months from 25.12.2020 Download Notification Click Here …
Refund of excess fee paid for delay in filings under regulation 40B of IBBI CRIP Regulations 2016 According to sub-regulation (4) of regulation 40B of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations), a fee has to be paid for delay after 1st October, …
High Court order rejecting transfer of pending winding up proceeding to NCLT on the basis of Rule 26 of the Companies (Court) Rules 1959 was flawed – SC ABCAUS Case Law CitationABCAUS 3422 (2020) (11) Important case law relied upon by the parties:Forech India Ltd. vs. Edelweiss Assets …
Record or evidence of default by financial creditor in Insolvency Resolution Process INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th November, 2020 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020. No. IBBI/2020-21/GN/REG066. —In exercise …
Creditor may assign/transfer debt during liquidation process under Bankruptcy. Liquidator may assign/transfer a not readily realisable asset. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th November, 2020 Insolvency and Bankruptcy Board of India (Liquidation Process) (Fourth Amendment) Regulations, 2020. IBBI/2020-21/GN/REG067.—In exercise of the powers conferred …
