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Corporate Law : The article explains how the NCLAT interpreted Section 66(1) to extend liability beyond company insiders to third parties who know...
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Corporate Law : The First Appellate Authority directed the CPIO to dispose of the RTI application after finding it was not decided within the 30-d...
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No. IBBI/2017-18/GN/REG030. -In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
These regulations may be called the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2018. They shall come into force on the 1st April, 2018.
These regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2018. They shall come into force on 1st April, 2018.
According to the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018 a. Subject to meeting other requirements, an individual shall be eligible for registration as an insolvency professional if he has passed the Limited Insolvency Examination within the last 12 months and has completed a pre- registration educational course from an insolvency professional agency, as may be required by the Board.
The Insolvency and Bankruptcy Code aims at establishing a time bound resolution of stressed assets, failing which the corporate debtor will be liquidated. Much has been written about the issues under the Code vis-à-vis other regulations. In this article, we attempt to throw light on the practical difficulties under the Code and the need to address them.
Insolvency and Bankruptcy Board of India invites comments on the draft syllabus of Limited Insolvency Examination. The comments and feedback may please be mailed at exam@ibbi.gov.in latest by 15th April, 2018.
Prior to the introduction of Insolvency and Bankruptcy Code, 2016, India did not have a robust insolvency law to deal with the state of indebtedness of a business enterprises, winding up being the only insolvency procedure available.
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 Adjudicating Authority and there is no requirement for obtaining approval of shareholders/members of the corporate debtor during […]
There is no reduction in submission of resolution plans after enactment of The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017. 8 (Eight) resolution plans have been approved by National Company Law Tribunal (NCLT) after coming into effect of Ordinance as compared to 5 (Five) resolution plans approved earlier.
9,073 cases are under consideration in NCLT, including 1,630 cases of Merger and Amalgamation; 2,511 cases of insolvency and 4,932 cases under other sections of Companies Act. The Company Law Board (CLB) set up under Companies Act 1956 stands dissolved with the setting up of National Company Law Tribunal (NCLT). As on 12.03.2018, only one […]
