IBBI

Insolvency and Bankruptcy Code- The legal tangle continues

Corporate Law - The Insolvency and Bankruptcy Code, 2016 (the Code) has caused a paradigm shift in the manner in which cases of sick companies have been handled in India. The Code, which repeals the erstwhile Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) ...

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23 FAQs on Valuation by Registered Valuers – Section 247

Corporate Law - Scope of person who have qualified as Register Valuer u/s 247 of Companies Act? A valuer shall conduct valuation required under the Act as per these rules and he may conduct valuation as per these rules if required under any other law or by any other regulatory authority....

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Insolvency & Bankruptcy Code – New Law on Horizon Of India

Corporate Law - This law which I am going to discuss is mainly for the benefit of Individual to Corporate Sector who are dealing with the Corporate Sector i.e. Public Limited Companies, Private limited Companies & Limited Liability Partnerships( LLPs)....

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First Information Utility set up under IBC

Corporate Law - The Insolvency and Bankruptcy Board of India (IBBI) has granted the final approval to National e-Governance Services Ltd. (NeSL), allowing it to become the first information utility (IU) under the Insolvency and Bankruptcy Code, 2016 (the Code). Earlier in June, 2017, IBBI had granted an in-principle approval to NeSL to establish the IU....

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What is difference between Insolvency and Bankruptcy?

Corporate Law - ♠ The term insolvency is used for both individuals and organizations. For individuals, it is known as bankruptcy and for corporate it is called corporate insolvency. Both refer to a situation when an individual or company are not able to pay the debt in present or near future and the value of assets held by […]...

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IBC Mechanism Being Used Actively to Resolve NPA Problem, Asserts Economic Survey

Corporate Law - The IBC mechanism is being used actively to resolve the NPA problem of the banking sector. A major factor behind the effectiveness of the new Code has been the adjudication by the Judiciary. The Code prescribes strict time limits for various procedures under it. In this process, a rich case-law has evolved, reducing future legal uncertai...

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IBBI has No Association with ‘IBBI Insolvency Practitioners LLP’

Corporate Law - It has come to the notice of the Insolvency and Bankruptcy Board of India (IBBI) that there is a Limited Liability Partnership (LLP) by the name IBBI Insolvency Practitioners LLP...

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Recent Amendments to Insolvency and Bankruptcy Law

Corporate Law - Amendments to (i) the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and (ii) the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017....

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IBBI publishes syllabus of educational courses & valuation examinations

Corporate Law - Insolvency Bankruptcy Board of India publishes syllabus and other details of educational courses and valuation examinations The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th October, 2017. It also notified the Companies (Registered Valuers and Valuation) ...

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IBBI grants recognition to two Registered Valuers Organizations

Corporate Law - In pursuance to the Companies (Registered Valuers and Valuation) Rules, 2017, the Insolvency and Bankruptcy Board of India (IBBI) has recognized today the following two Registered Valuers Organizations:...

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Whether POA Holder Can File Application Under IBC, 2016

Shriram EPC Limited Vs. Rio Glass Solar SA (NCLAT Delhi) - The 'I&B Code' is a complete Code by itself. The provision of the Power of Attorney Act, 1882 cannot override the specific provision of a statute which requires that a particular act should be done by a person in the manner as prescribed thereunder. Therefore, we hold that a 'Power of Attorney Hold...

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IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2018

No. IBBI/2017-18/GN/REG/025 - (07/02/2018) - The Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 yesterday....

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IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2018

No. IBBI/2017-18/GN/REG024 - (06/02/2018) - The Insolvency and Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 yesterday....

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Disclosures by Insolvency Professionals and other Professionals appointed by Insolvency Professionals conducting Resolution Processes

Circular No. IP/005/2018 - (16/01/2018) - It has been decided that an insolvency professional and every other professional appointed by the insolvency professional for a resolution process shall make disclosures as specified in Para 3 to 5 hereunder....

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Fees payable to an insolvency professional and to other professionals appointed by an insolvency professional

Circular No. IP/004/2018 - (16/01/2018) - Insolvency professional shall render services for a fee which is a reasonable reflection of his work, raise bills / invoices in his name towards such fees, and such fees shall be paid to his bank account. Any payment of fees for the services of an insolvency professional to any person other than the...

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Insolvency professional to use Registration No. & Address in his communications

No. IP/001/2018-IBBI - (03/01/2018) - In all his communications, whether by way of public announcement or otherwise to a stakeholder or to an authority, an insolvency professional shall prominently state: (i) his name, address and email, as registered with the IBBI, (ii) his Registration Number as an insolvency professional granted by t...

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Recent Posts in "IBBI"

IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2018

No. IBBI/2017-18/GN/REG/025 (07/02/2018)

The Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 yesterday....

Read More

IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2018

No. IBBI/2017-18/GN/REG024 (06/02/2018)

The Insolvency and Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 yesterday....

Read More

IBC Mechanism Being Used Actively to Resolve NPA Problem, Asserts Economic Survey

The IBC mechanism is being used actively to resolve the NPA problem of the banking sector. A major factor behind the effectiveness of the new Code has been the adjudication by the Judiciary. The Code prescribes strict time limits for various procedures under it. In this process, a rich case-law has evolved, reducing future legal uncertai...

Read More
Posted Under: Corporate Law |

IBBI has No Association with ‘IBBI Insolvency Practitioners LLP’

It has come to the notice of the Insolvency and Bankruptcy Board of India (IBBI) that there is a Limited Liability Partnership (LLP) by the name IBBI Insolvency Practitioners LLP...

Read More
Posted Under: Corporate Law |

Disclosures by Insolvency Professionals and other Professionals appointed by Insolvency Professionals conducting Resolution Processes

Circular No. IP/005/2018 (16/01/2018)

It has been decided that an insolvency professional and every other professional appointed by the insolvency professional for a resolution process shall make disclosures as specified in Para 3 to 5 hereunder....

Read More

Fees payable to an insolvency professional and to other professionals appointed by an insolvency professional

Circular No. IP/004/2018 (16/01/2018)

Insolvency professional shall render services for a fee which is a reasonable reflection of his work, raise bills / invoices in his name towards such fees, and such fees shall be paid to his bank account. Any payment of fees for the services of an insolvency professional to any person other than the insolvency professional shall not form ...

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Recent Amendments to Insolvency and Bankruptcy Law

Amendments to (i) the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and (ii) the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017....

Read More
Posted Under: Corporate Law |

Insolvency professional to use Registration No. & Address in his communications

No. IP/001/2018-IBBI (03/01/2018)

In all his communications, whether by way of public announcement or otherwise to a stakeholder or to an authority, an insolvency professional shall prominently state: (i) his name, address and email, as registered with the IBBI, (ii) his Registration Number as an insolvency professional granted by the IBBI, and (iii) the capacity in which...

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Insolvency professional not to outsource his responsibilities

No. IP/003/2018 (03/01/2018)

An insolvency resolution professional shall not outsource any of his duties and responsibilities under the Insolvency and Bankruptcy Code, 2016. He shall not require any certificate from another person certifying eligibility of a resolution applicant....

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Insolvency professional to ensure compliance with applicable laws

Circular No. IP/002/2018 (03/01/2018)

While acting as an Interim Resolution Professional, a Resolution Professional, or a Liquidator for a corporate person under the Insolvency and Bankruptcy Code, 2016, an insolvency professional shall exercise reasonable care and diligence and take all necessary steps to ensure that the corporate person undergoing any process under the Code...

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