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IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024

February 15, 2024 444 Views 0 comment Print

Insolvency and Bankruptcy Board of India introduces crucial amendments to corporate insolvency regulations. Learn about key changes, meeting protocols, and enhanced transparency.

IBBI (Liquidation Process) (Amendment) Regulations, 2024

February 12, 2024 636 Views 0 comment Print

Discover the latest amendments to the IBBI Liquidation Process Regulations, effective from February 2024, enhancing transparency and efficiency.

IBBI Amends Regulations for Personal Guarantors in Corporate Debtors’ Insolvency & Bankruptcy Processes

February 3, 2024 330 Views 0 comment Print

The Insolvency and Bankruptcy Board of India announces amendments to regulations for personal guarantors to corporate debtors, enhancing coordination and creditor involvement.

IBBI suspends registration of IP for failure in relationship disclosure

October 11, 2022 930 Views 0 comment Print

it is found that Mr. Prakash had neither disclosed the appointment of his brother through M/s Ibay Capital before the CoC nor made relationship disclosure of engagement of M/s Ibay Capital on the website of the IPA. Further, the valuation report was submitted by M/s iVas Partners whose appointment or fee was not approved/ratified by […]

Information under RTI cannot be denied to A company or a corporation

April 3, 2022 17583 Views 1 comment Print

Utility Premises Private Limited Vs Central Public Information Officer (First Appellate Authority of IBBI) The Respondent had stated that under RTI Act, only citizens can seek information and since the Applicant being a Company is not a citizen, it is not eligible to seek information under RTI Act. In J.C. Talukdar vs. C.E.(E) CPWD Kolkata […]

Outsourcing of work by An IRP/RP is violation of IBC, 2016

December 9, 2021 1107 Views 0 comment Print

An IRP / RP is appointed by the AA and is duty bound to conduct CIRP with fairness and diligence and must maintain absolute independence in discharge of his statutory duties without any external influences. The entire resolution process of a CD is dependent on the IRP/ RP who is primarily responsible for efficiently and […]

RP to disclose voting pattern & should file relationship disclosure

August 27, 2021 1329 Views 0 comment Print

Regulation 26(4) of the CIRP Regulations makes it mandatory for the RP to make disclosure about the voting pattern, the objective being to ensure transparency in the process and boost confidence among the CoC members. As per the regulation 26(4) of CIRP Regulations, Mr. Pramod Kumar Sharma was to disclose the names of the members […]

Under RTI act petitioner cannot elicit answer to his queries or ask for any ‘opinion’ or ‘advice’

May 3, 2018 15024 Views 1 comment Print

RTI Act does not cast on the public authority any obligation to answer queries in which the petitioner attempts to elicit answer to his queries with prefixes as why, what when and whether. The petitioner’s right extends only to seeking information as defined in section 2(f) either by pointing the file document, paper or record etc., or by mentioning the type of information as may be available with the specified public authority.’