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…
These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2024. They shall come into force on the date of publication in the Official Gazette. In the Insolvency and Bankruptcy Board of India (Insolvency Professionals)…
Clarification in relation to disciplinary proceedings in case of an IP which is an IPEClarification: It is hereby clarified that in case the assignment is undertaken by the IP, which is an IPE, the show-cause notice under regulation 11 of…
To streamline the voluntary liquidation process and facilitate the distribution of unclaimed proceeds to the stakeholders before the dissolution of the corporate person, the amendments in the Voluntary Liquidation Regulations make the following key modifications: a) The directors of the corporate…
The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2024 and Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors…
