Learn about IBBI Circular No. IBBI/LIQ/73/2024, its purpose, form details, and filing process for efficient liquidation monitoring under the Insolvency and Bankruptcy Code.
Discover IBBI Circular No. IBBI/LIQ/74/2024 dated 28-06-2024 on voluntary liquidation processes under the Insolvency and Bankruptcy Code, streamlining compliance for Insolvency Professionals (IPs).
The amendment introduced in the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 promulgated on 6 June 2018. Vide this amendment new concept has been introduced i.e. appointment of Authorised Representative for ‘class of creditors’.
NFRA is an independent regulator to oversee the auditing profession and accounting standards in India under the Companies Act, 2013. Section 132 of Companies Act, 2013 which deals with provisions relating to NFRA. It came into existence in October 2018 and having its offices at New Delhi. The present chairperson of it is Mr. Ashok […]
Know all about Resolution Professional under Insolvency and Bankruptcy Code (IBC), 2016 Contents of the Article: Resolution Professional (RP); Provision for appointment of Resolution Professionals Replacement of RP; RP Shall carry out CIRP and tenure of RP Duties of RP Resolution Professional (RP) “Resolution Professional”, means an insolvency professional appointed to conduct the corporate insolvency […]
Article explains about Eligibility of Insolvency Professional, Appointment of Interim Resolution Professional, Tenure of Interim Resolution Professional and Management of affairs and Business of the corporate debtor after appointment of Interim Resolution Professional under IBC. Eligibility for Insolvency Professionals:- [Regulation -4 of IBBI (Insolvency Professional Regulations, 2016] No individual shall be eligible to be registered […]
Definition of Information Memorandum under IBC. Section-5 (10) information memorandum means a memorandum prepared by resolution professional under sub-section (1) of section 29;
Resolution Plan A resolution plan is a proposal that aims to provide a resolution to the problem of the corporate debtor’s insolvency and its consequent inability to pay off debts. It needs to be approved by the committee of creditors (“COC”), and comply with mandatory requirements prescribed in IBC. Section 5(26) of IBC, 2016 -“Resolution […]
The Moratorium, as envisaged in the Insolvency and Bankruptcy Code comes into effect immediately after the application under section 7, 9 or 10 of the Code, as the case may be, is admitted by the adjudicating authority. The day the insolvency application is admitted and moratorium is applied is referred to as the ‘Insolvency Commencement Date’.
