Corporate Law : Learn about IBBI's new rule for generating a unique Valuation Report Identification Number (VRIN) for valuations under the Insolve...
CA, CS, CMA : Highlights from August 5-11, 2024: Income Tax exemptions, GST updates, SEBI guidelines, and RBI monetary policy changes....
Corporate Law : Explore how the NCLT's inherent power to recall orders under the IBC ensures justice by addressing procedural errors. Learn about ...
Corporate Law : Explore the pros and cons of the Insolvency and Bankruptcy Code, 2016. Understand its impact on insolvency proceedings in India....
CA, CS, CMA : Discover IBBI Circular No. IBBI/LIQ/74/2024 dated 28-06-2024 on voluntary liquidation processes under the Insolvency and Bankruptc...
Corporate Law : SC rules on Special Court jurisdiction; NCLAT redefines financial debt; HC upholds IBBI regulations and addresses various insolven...
Corporate Law : New guidelines for the Committee of Creditors by IBBI focus on enhancing decision-making, transparency, and efficiency in insolven...
Corporate Law : Learn about the new guidelines by IBBI for Insolvency Professionals acting as IRPs, Liquidators, RPs, and BTs. Details on eligibil...
Corporate Law : IBBI updates the progress report format for liquidation processes, seeking comments by July 12, 2024. Learn about the new requirem...
Corporate Law : IBBI invites comments on proposed amendments to CIRP regulations, focusing on valuation processes, MSME treatment, voting protocol...
Corporate Law : NCLT Amravati held that application filed by SBI (creditor) u/s. 95 of the Insolvency and Bankruptcy Code, 2016 for initiation of ...
Income Tax : Delhi High Court held that reassessment action under section 148 of the Income Tax Act post approval of the resolution plan unsust...
Corporate Law : NCLT Mumbai rules in favor of Piramal Capital, allowing Insolvency Professional Entities to be appointed as Resolution Professiona...
Corporate Law : NCLT Mumbai held that as per section 32A of the Insolvency Bankruptcy Code, 2016, the Corporate Debtor shall not be held liable fo...
Corporate Law : NCLAT Delhi held that electricity supply by NPCL, being in nature of supply of essential goods, was necessary to be continued duri...
Corporate Law : IBBI amends Inspection and Investigation Regulations, extending the response period to show-cause notices to 60 days from the due ...
Corporate Law : IBBI updates Information Utilities Regulations with new timelines and verification procedures starting October 2024, improving def...
Corporate Law : IBBI's ruled that mere association with a promoter does not automatically disqualify a Resolution Applicant under Section 29A unle...
Corporate Law : The IBBI Disciplinary Committee disposes of SCN against Insolvency Professional Brijendra Kumar Mishra, advising re-examination af...
Corporate Law : IBBI disciplinary order finds Mr. Vijendra Kumar Jain guilty of negligence and failure in handling claims under CIRP, with implica...
These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020.They shall come into force on the date of their publication in the Official Gazette.
(1) These regulations may be called the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.
The resolution plan usually provides payment of debts to the creditors of the CD. In the interest of transparency, the IBBI amended the Regulations to require the RP to intimate each claimant the principle or formulae for payment of debts under a resolution plan, within 15 days of the order of the AA approving such resolution plan.
The IBBI had issued on 28th August, 2020, the SCN to Mr. Vinod Kumar Kothari for accepting the assignment as the Liquidator in the Voluntary Liquidation of IL&FS Portfolio Management Services Limited after 31st December 2019 without holding a valid Authorisation for Assignment (AFA) issued to him by his IPA. Mr. Kothari in his written […]
In the present matter, it is observed that, Mr. Dua had mentioned the acceptance of assignment of voluntary liquidation in matter of I V Share and Stock Brokers Ltd before 31.12.2020 however, the documents were not signed until February by one of the key directors. Mr. Dua had given his written consent to act as […]
The Companies which are listed on stock exchanges has to mandatorily comply with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2018 or SEBI (LODR). These companies needs to comply with the Quarterly/half yearly/annual and general compliances under SEBI Listing Regulations (LODR), which are as follows: QUARTERLY COMPLIANCES: Regulation 13(3): […]
V. Venkata Sivakumar Vs IBBI (Madras High Court) In this writ petition, the Petitioner challenges the constitutional validity of Regulation 7A of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (the IP Regulations) read with Bye-Law 12A of the Insolvency and Bankruptcy Board of India (IBBI) (Model Bye-Laws and Governing Board of […]
IBBI had prepared and shared a panel of IPs with Adjudicating Authority (NCLT and DRT) in June 2020 which was applicable for appointment of IPs as IRPs, Liquidators, RPs and BTs, from July 1, 2020 to November 25, 2020. The aforesaid panel is expiring on November 25, 2020 and the Board has to submit fresh panel to Adjudicating Authority (NCLT and DRT) which would be applicable for appointment of IPs as IRPs, Liquidators, RPs and BTs, from November 26, 2020 to June 30, 2021.
IBBI Vs Lalit Kumar Jain & Ors. (Supreme Court) We are of the considered opinion that the Writ Petitions that are pending in the High Courts pertaining to the challenge to the Notification dated 15.11.2019 and related issues have to be transferred to this Court. Transfer of the Writ Petitions to this Court would avoid […]
Under the Insolvency and Bankruptcy Code 2016, the role of the Committee of Creditors is very important. The COC consists of Financial Creditors only and Operational Creditors have no role in the COC expect that their dues are not less than 10% of the total debt in such case the Operational Creditors will find their […]
