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…
Form No Period Covered and Scope Timeline VL 1 This includes details of the Corporate Debtor (CD) and the details of the Voluntary Liquidation Process On or before the 10th day of the second month after the public announcement VL…
To facilitate the request received from a stakeholder, under sub-regulation (7) of regulation 46, who claims to be entitled to any amount deposited into the Corporate Liquidation Account for withdrawal before the dissolution of the corporate debtor, the liquidator, after due…
Circulation of progress reports to stakeholders It is hereby directed that the liquidator shall also share the progress reports with the members of the Stakeholders’ Consultation Committee (SCC) after receiving a confidential undertaking. Further, the liquidator shall submit the progress…
Regulation Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024. Comments Regulation 4D. Operating separate bank account for each real…
