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The Tax Publishers Insolvency and Bankruptcy Code, 2016--CIRP Key Amendments in Regulations relating to Corporate Insolvency Proceedings Pragya Lalwani Learned Author in this write up highlights the latest amendments notified by the Insolvency and Bankruptcy Board of India (Board) in Regulations relating to corporate insolvency proceedings. 1. Introduction In exercise of the powers conferred by sections 196 and 240 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India (IBBI) amends certain regulations relating to corporate insolvency and liquidation process by issuing Press Release dt. 13-11-2020. The notified regulations are: (i) IBBI(Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020, (ii) IBBI (Liquidation Process) (Fourth Amendment) Regulations, 2020 and (iii) IBBI (Information Utilities) (Amendment) Regulations, 2020. Such regulations have been notified in the interest of stakeholders and increased transparency during the proceedings and for early release of debtors assets. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Insolvency and Bankruptcy Code, 2016--CIRP

Key Amendments in Regulations relating to Corporate Insolvency Proceedings

Pragya Lalwani

Learned Author in this write up highlights the latest amendments notified by the Insolvency and Bankruptcy Board of India (Board) in Regulations relating to corporate insolvency proceedings.

1. Introduction

In exercise of the powers conferred by sections 196 and 240 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India (IBBI) amends certain regulations relating to corporate insolvency and liquidation process by issuing Press Release dt. 13-11-2020. The notified regulations are: (i) IBBI(Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020, (ii) IBBI (Liquidation Process) (Fourth Amendment) Regulations, 2020 and (iii) IBBI (Information Utilities) (Amendment) Regulations, 2020. Such regulations have been notified in the interest of stakeholders and increased transparency during the proceedings and for early release of debtors assets.