Discussion paper on amendments to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, 2016

The IBBI has issued a Discussion paper on amendments to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, 2016 on 1st November, 2023. This discussion paper solicits comments on following issues, namely: –

1. Approval of committee of creditors (CoC) for insolvency resolution process cost;
2. Monthly CoC meetings;
3. Discussion of valuation methodology and report with CoC;
4. Disclosure of valuation reports;
5. Continuation of process activities pending disposal of extension application by the
   Adjudicating Authority (AA);
6. Clarity in minimum entitlement to dissenting financial creditors; and
7. Mandatory contents of resolution plan.

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