Tag: insolvency professionals

Monitoring the performance of insolvency professionals under the Insolvency and Bankruptcy Code, 2016 -Discussion Paper

Monitoring the performance of insolvency professionals under the Insolvency and Bankruptcy Code, 2016 and the regulations made thereunder Insolvency And Bankruptcy Board Of India (IBBI) has brought a discussion paper on the subject of monitoring the performance of insolvency professionals  under the Code. The discussion paper is limited to …

Resolution professional not require approval of shareholders of the corporate debtor for insolvency resolution process

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 professional to ensure compliance with provisions of the applicable laws

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) …

Code of conduct for insolvency professionals under Regulation of 7(2)(g) of Insolvency & Bankruptcy Board of India Regulations 2016

Code of conduct for insolvency professionals under Regulation of 7(2)(g) Insolvency & Bankruptcy Board of India (Insolvency Professionals) Regulations 2016  FIRST SCHEDULE CODE OF CONDUCT FOR INSOLVENCY PROFESSIONALS Integrity and objectivity. 1. An insolvency professional must maintain integrity by being honest, straightforward, and forthright in all professional relationships. …