The IPs are henceforth mandated to add assignments on the IBBI’s electronic portal upon their appointment in the following processes and capacities: a. Interim Resolution Professional (IRP) under the Corporate Insolvency Resolution Process (CIRP). b. Resolution Professional (RP) under the…
The Insolvency and Bankruptcy Board of India (IBBI/Board) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2025 (Amendment Regulations) on 3rd February 2025. The amendments, which come into immediate effect, seek…
Auction Process a. Prospective bidders are now given more time to participate in the auction process (from 14 days to about 30 days) by streamlining the verification process thereby facilitating wider participation. b. The liquidator shall mention in the auction…
All IPs handling liquidation processes are hereby directed to exclusively use the eBKray auction platform for conducting auctions for sale of assets during the liquidation process with effect from 1 st April 2025. It is further directed that listing of…
Regulation 33 (1) of the IBBI (Liquidation Process) Regulations, 2016 (Liquidation Regulations) provides that, “The liquidator shall ordinarily sell the assets of the corporate debtor through an auction in the manner specified in Schedule I.” Further, Clause (7) of Para 1 of…
Vide Circular dated 28.06.2024 the liquidators were directed to file forms relating to the voluntary liquidation latest by 30.09.2024. In this regard, representations have been received from the liquidators and Insolvency Professional Agencies for extending the date citing the technicalities and…
Vide Circular dated 28.06.2024 the liquidators were directed to file forms relating to the liquidation process latest by 30.09.2024. In this regard, representations have been received from the liquidators and Insolvency Professional Agencies for extending the date citing the technicalities and…
The Amendment Regulations provide for the appointment of an interim representative who will act as a representative for a class of creditors during the period when the application for appointment of the authorised representative is under consideration of the Adjudicating…
It has been decided to provide a Valuation Report Identification Number (VRIN) for each valuation conducted under the Code. Accordingly, an online module, in consultation with Registered Valuers Organisations, has been developed by IBBI. The module has been hosted on…
Form No Period Covered and Scope Timeline LIQ -1 From Commencement of Liquidation till Public Announcement: This includes details of the Liquidator, Corporate Debtor (CD), and the liquidator’s fee On or before the 10th day of the subsequent month, after…
