IBC 2016

Analysis: IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

Corporate Law - *IBBI Notification No. IBBI/2021-22/GN/REG077 Dtd. 22nd July, 2021 The Insolvency and Bankruptcy Board of India (IBBI) has notified a new set of regulations to amend the existing IBBI (Insolvency Professionals) Regulations, 2016 which shall come into force as on the date of its publication in the Official Gazette. Sr. No. Amendment Effe...

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Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021- Analysis

Corporate Law - INTRODUCTION The Covid’19 Pandemic has impacted businesses, financial markets and economies all over the world. In India, the Micro, Small and Medium Enterprises (MSME) Sector is the backbone of the national economic Structure. MSME contributes around 6.11% of the manufacturing GDP and 24.63% of the GDP from service activities as well a...

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Analysis of IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2021

Corporate Law - Notification No. IBBI/2021 22/GN/REG075 Dtd. 14th July, 2021 The Insolvency and Bankruptcy Board of India (IBBI) has notified a new set of regulations to amend the existing IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 which shall come into force as on the date of its publication in the Official Gazette. App...

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Impact of Moratorium U/s. 14 of IBC, 2016 on Income Tax Proceeding

Corporate Law - Impact of Moratorium under section 14 of Insolvency and Bankruptcy Code, 2016 on Income Tax Proceeding It has become standard procedure for the Resolution Professional, appointed by the order of the National Company Law Tribunal (NCLT) writes a letter to the Assessing Officer of the Corporate Debtor attaching a copy of the order passed by...

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Pre-Packaged Insolvency Resolution Process – Information Brochure

Corporate Law - Insolvency and Bankruptcy Board of India Pre-Packaged Insolvency Resolution Process – Information Brochure About the Code The Insolvency and Bankruptcy Code, 2016 (Code) provides for a time-bound, market mechanism for reorganisation and insolvency resolution of persons (companies, limited liability partnerships, partnership and prop...

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Guidelines for Technical Standards for Performance of Core Services & Other Services (Amendment), 2021

Corporate Law - INSOLVENCY AND BANKRUPTCY BOARD OF INDIA New Delhi, the 26th July, 2021 AMENDMENT TO THE GUIDELINES FOR TECHNICAL STANDARDS FOR THE PERFORMANCE OF CORE SERVICES AND OTHER SERVICES UNDER THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INFORMATION UTILITIES) REGULATIONS, 2017 In exercise of the powers conferred by section 196 of the Insolvenc...

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Handbook on Moratorium under IBC, 2016

Corporate Law - ICAI Handbook On Moratorium Under The Insolvency And Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 in India has been in implementation phase over the last four years. Being a unitary codified legislation, it has several distinctive features which are essential to achieve the enshrined mandate of the Code which includes ti...

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Handbook on Corporate Insolvency Resolution Process under IBC, 2016

Corporate Law - ICAI Handbook on Corporate Insolvency Resolution Process under The Insolvency and Bankruptcy Code, 2016 The implementation of the Corporate Insolvency Resolution Process (CIRP) under The Insolvency and Bankruptcy Code, 2016 began when the provisions relating to insolvency and liquidation of corporate persons came into force on December 20...

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Handbook on Personal Guarantors to Corporate Debtors under IBC, 2016

Corporate Law - ICAI Handbook on Personal Guarantors to Corporate Debtors under The Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 was implemented with the provisions relating to insolvency and liquidation of corporate persons coming into force in December 2016. Implementation of individual insolvency and bankruptcy was int...

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Handbook on Resolution Plan Under IBC, 2016

Corporate Law - ICAI Handbook On Resolution Plan Under The Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 (IBC) has been introduced with the overall objective of promoting entrepreneurship and balance the interest of all stakeholders by consolidating and amending the laws relating to reorganization and insolvency resolution...

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Liquidation should be the last resort after proper evaluation & calibration

Lotus City Plot Buyers Welfare Association Vs Three C Homes Pvt. Ltd & - In present facts of the case, the Hon’ble Appellate Tribunal held that Liquidation is the last resort and this programme of homebuyers needs some calibration and proper evaluation....

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Statutory dues cannot be claimed if not exists in company’s approved RP for DHFL

Piramal Capital & - All the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the Company’s approved resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date the Adjudicating Author...

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Writ petition against an order of NCLT not maintainable before HC

Ideal Surgicals Vs National Company Law Tribunal (Kerala High Court) - Ideal Surgicals Vs National Company Law Tribunal (Kerala High Court) The challenge in these original petitions is against the proceedings of the National Company Law Tribunal (NCLT), Kochi Bench. IBC, 2016 is a Single Unified Umbrella Code, covering the entire gamut of the law relating to insolvenc...

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‘Equality’ means equality among equals or within the same class during insolvency resolution process: SC

India Resurgence Arc Private Limited Vs M/S. Amit Metaliks Limited & Anr. (Supreme Court of India) - India Resurgence Arc Private Limited Vs M/s. Amit Metaliks Limited & Anr. (Supreme Court of India) “Equality” means equality among equals or within the same class. In the present facts of the case, the appellant company is said to be the assignee of the rights, title and interest car...

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Provisions of IBC was having overriding effect over other State Acts

Dreams Infra India Pvt. Ltd Vs Competent Authority Dreamz Infra India Pvt. Ltd (Karnataka High Court) - Provisions of the IBC was having overriding effect over other laws and the same would prevail in view of Section 238 of the Code. Hence, the proceedings initiated against assessee under Section 7(1) of the Act, 2004 was quashed....

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IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

F. No. IBBI/2021-22/GN/REG077 - (22/07/2021) - INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 22nd July, 2021 Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2021 No. IBBI/2021-22/GN/REG077.– In exercise of the powers conferred by sections 196, 207 and 208 read with ...

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IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Third Amendment) Regulations, 2021

Notification No. IBBI/2021-22/GN/REG076 - (22/07/2021) - These regulations may be called the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Third Amendment) Regulations, 2021....

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IBBI amends IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Press Release No. IBBI/PR/2021/15 - (20/07/2021) - Insolvency and Bankruptcy Board of India No. IBBI/PR/2021/15 20th July, 2021 Press Release Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 The Insolvency and Bankruptcy Board of India...

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Filing of Form CIRP 8 under IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Circular No. IBBI/CIRP/42/2021 - (20/07/2021) - CIRP Regulations requires the resolution professional to file Form CIRP 8 intimating details of his opinion and determination under regulation 35A, by 140th day of the insolvency commencement date....

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IBBI bar Insolvency Professional for 30 days

Order No. IBBI/DC/73/2021 - (20/07/2021) - In the matter of Mr. Prabhjit Singh Soni, Insolvency Professional under Section 220 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 11 of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016....

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Recent Posts in "IBC 2016"

Analysis: IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

*IBBI Notification No. IBBI/2021-22/GN/REG077 Dtd. 22nd July, 2021 The Insolvency and Bankruptcy Board of India (IBBI) has notified a new set of regulations to amend the existing IBBI (Insolvency Professionals) Regulations, 2016 which shall come into force as on the date of its publication in the Official Gazette. Sr. No. Amendment Effe...

Read More
Posted Under: Corporate Law |

Guidelines for Technical Standards for Performance of Core Services & Other Services (Amendment), 2021

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA New Delhi, the 26th July, 2021 AMENDMENT TO THE GUIDELINES FOR TECHNICAL STANDARDS FOR THE PERFORMANCE OF CORE SERVICES AND OTHER SERVICES UNDER THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INFORMATION UTILITIES) REGULATIONS, 2017 In exercise of the powers conferred by section 196 of the Insolvenc...

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Posted Under: Corporate Law |

IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021

F. No. IBBI/2021-22/GN/REG077 22/07/2021

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 22nd July, 2021 Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2021 No. IBBI/2021-22/GN/REG077.– In exercise of the powers conferred by sections 196, 207 and 208 read with section 240 of the Insolvency and Bankru...

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IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Third Amendment) Regulations, 2021

Notification No. IBBI/2021-22/GN/REG076 22/07/2021

These regulations may be called the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Third Amendment) Regulations, 2021....

Read More

IBBI amends IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Press Release No. IBBI/PR/2021/15 20/07/2021

Insolvency and Bankruptcy Board of India No. IBBI/PR/2021/15 20th July, 2021 Press Release Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bank...

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Filing of Form CIRP 8 under IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016

Circular No. IBBI/CIRP/42/2021 20/07/2021

CIRP Regulations requires the resolution professional to file Form CIRP 8 intimating details of his opinion and determination under regulation 35A, by 140th day of the insolvency commencement date....

Read More

IBBI bar Insolvency Professional for 30 days

Order No. IBBI/DC/73/2021 20/07/2021

In the matter of Mr. Prabhjit Singh Soni, Insolvency Professional under Section 220 of the Insolvency and Bankruptcy Code, 2016 read with Regulation 11 of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016....

Read More

Liquidation should be the last resort after proper evaluation & calibration

Lotus City Plot Buyers Welfare Association Vs Three C Homes Pvt. Ltd &

In present facts of the case, the Hon’ble Appellate Tribunal held that Liquidation is the last resort and this programme of homebuyers needs some calibration and proper evaluation....

Read More
Posted Under: Corporate Law | |

Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021- Analysis

INTRODUCTION The Covid’19 Pandemic has impacted businesses, financial markets and economies all over the world. In India, the Micro, Small and Medium Enterprises (MSME) Sector is the backbone of the national economic Structure. MSME contributes around 6.11% of the manufacturing GDP and 24.63% of the GDP from service activities as well a...

Read More
Posted Under: Corporate Law |

Statutory dues cannot be claimed if not exists in company’s approved RP for DHFL

Piramal Capital &

All the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the Company’s approved resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior to the date the Adjudicating Authority was granting its approval under Sect...

Read More
Posted Under: Corporate Law | |

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