Category: Insolvency and Bankruptcy

The Insolvency and Bankruptcy Board of India vide notification dated 22nd November, 2023 has announced the IBBI and INSOL India International Conclave 2024. The conclave is scheduled on 20th January 2024.

Comments may be submitted electronically by 28th November, 2023 through IBBI website.

The Ministry of Power (MoP) has issued an advisory encouraging all States/ Generation Companies (GENCOs) to participate in the Corporate Insolvency Resolution Process (CIRP) for taking over stressed thermal power assets. State-owned GENCOs are advised …

Read More "GENCOs encouraged to Participate in CIRP of Stressed Power Assets"

Comments may be submitted electronically by 22nd November, 2023.

The paper proposes that the IBC may provide that the liquidator should list all assets of the CD as per the Asset Memorandum, on a listing platform in the manner to be notified by the …

Read More "IBBI Discussion Paper on ‘Strengthening the Liquidation Process’"

Following limits are prescribed for IPs and IPEs in terms of assignments taken up: For IP who is an individual – Overall limit of 10 assignments at any point of time, out of which not …

Read More "IBBI seeks Rationalization of the Regulatory Framework for Enhancing the Effectiveness of Insolvency Professional Entities in Insolvency Resolution Process"

The IBBI has solicited public comments on these proposed changes, in accordance with its regulatory framework. Interested stakeholders are encouraged to provide their input on these amendments. Comments can be submitted electronically on the IBBI …

Read More "IBBI Discussion Paper on Streamlining the Voluntary Liquidation Process"

The comments may be provided online by visiting the IBBI website at – https://ibbi.gov.in/webfront/regulation_comment.php .

To expedite the resolution process and reduce delays, the amended regulations extend the timeline for creditors to submit claims. Creditors now have 90 days from the insolvency commencement date or the date of the latest …

Read More "IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023"

The facility for submitting the CIRP Forms has been now extended to entities acting as IPs also. These IPEs shall access the said platform with the help of a unique username and password provided by …

Read More "Clarification regarding Filing of CIRP Forms for the purpose of monitoring corporate insolvency resolution processes and performance of insolvency professional entities under IBC"

it is hereby clarified that the regulatory fee under this regulation shall not be payable in case where the approved resolution plan in respect of insolvency resolution of a real estate project is from an …

Read More "Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2023"

The moratorium declared under Insolvency and Bankruptcy Code, 2016 shall not apply where the corporate debtor has entered into the Production Sharing Contracts, Revenue Sharing Contracts, Exploration Licenses and Mining Leases made under the Oilfields …

Read More "Production Sharing Contracts, Revenue Sharing Contracts, Exploration Licenses and Mining Leases exempted from moratorium declared under IBC"