The Insolvency and bankruptcy board of India on 13th November 2020 has published the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020.
The amendment brings in a new regulation 2A which specifies that the financial creditor may furnish a certified copy of entries in the relevant account in the bankers’ book and an order of a court or tribunal that has adjudicated upon the non-payment of a debt, where the period of appeal against such order has expired.
Further, through this amendment, a new sub-regulation 13(2)(ca) has been inserted which states that the list of creditors shall be filed on the electronic platform of the Board for dissemination on its website, provided that this clause shall apply to every corporate insolvency resolution process ongoing and commencing on or after the date of commencement of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020.
