Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2023
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 association or group of allottees in such real estate project.
Production Sharing Contracts, Revenue Sharing Contracts, Exploration Licenses and Mining Leases exempted from moratorium declared under IBC
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 (Regulation and Development) Act, 1948 and rules made thereunder.
Insolvency Professionals to Act as Interim Resolution Professionals, Liquidators, Resolution Professionals, and Bankruptcy Trustees (Recommendation) Guidelines, 2023
These guidelines provide the procedure to establish a panel of eligible Insolvency Professionals (IPs) for appointment as Interim Resolution Professionals (IRPs), Liquidators, Resolution Professionals (RPs), and Bankruptcy Trustees (BTs) for a specified period.
Discussion Paper on measures for increasing the possibility of resolution, value of
resolution plan and enabling timely resolution
These proposals aim to address issues related to timely resolution, value realization, and efficient management of claims. By implementing these amendments, it is anticipated that the resolution process will become more streamlined, transparent, and conducive to maximizing the value of assets while ensuring the interests of stakeholders are protected.
Discussion Paper on Simplification of Enrolment and Registration Process for Ease of Entry in the Insolvency Profession
By modifying the requirements, standardizing the PREC, and streamlining the enrolment and registration procedures, the proposed measures aim to enhance efficiency and effectiveness while reducing duplication and ensuring compliance.
NCLT judgement regarding approval of insolvency resolution plan
It is laid down that mere allocation of meagre amount cannot be a ground to question the resolution plan
NCLT clarifies that just because a creditor enjoys security interest, it cannot be treated higher than other creditors who have financed the Corporate Debtor
Tribunal clarified that such creditors are treated differently, then all secured creditors would dissent in the CoC.
BSE notifies Surveillance Measure for securities under IBC
Members are hereby requested to note that from 8th March, 2023 the specified securities as per attached Annexure I have satisfied the criteria under Additional Surveillance Measures (ASM) for Companies as per Insolvency and Bankruptcy Code (IBC).
Clarification regarding the new procedure for applying for initiating corporate insolvency resolution process online
A step-by-step guide for submission of the application is provided. On submission of the application online, the applicant shall get an acknowledgment.
Second International Research Conference on Insolvency and Bankruptcy
This conference aims to act as a forum for academic researchers, professionals, financial creditors and policy makers to discuss impending issues on making the IBC more effective as an institutional mechanism. The three-day conference is open to professionals from all disciplines interested and involved in insolvency and bankruptcy processes and its multi-disciplinary aspects.
