Info About Insolvency Professionals Facing Disciplinary Proceedings Exempt From RTI Act, Says IBBI
5 years, 7 months ago

Info About Insolvency Professionals Facing Disciplinary Proceedings Exempt From RTI Act, Says IBBI

Live Law  

Even as the Insolvency and Bankruptcy Code promised to accelerate insolvency cases and raised the demand for insolvency professionals, the Insolvency and Bankruptcy Board of India claims information about insolvency professionals facing disciplinary proceedings is exempt from disclosure under the RTI Act. Singhvi had sought information about insolvency professionals who have been issued show cause notice for disciplinary proceedings as clarified in circular issued by the IBBI on April 23, 2018. He adds that names of resolution professionals served show cause notice or facing disciplinary proceedings should be made public as the 2018 circular provides against appointment of any such person ad a resolution professional and if the names of such persons are not made public, corporate entities might end up appointing them as IRPs which in turn will defeat the entire legal process. As per the circular, a disciplinary proceeding is considered pending against an insolvency professional from the time he has been issued show cause notice by the IBBI till its disposal by the disciplinary committee and an insolvency professional who has been issued a show cause notice shall not accept any fresh assignment as interim resolution professional, resolution professional, liquidator, or a bankruptcy trustee under the Code.

Disciplinary Proceedings Board Information Insolvency Resolution Disciplinary Show Cause Notice Notice Proceedings Act Info Rti Code Professional Professionals Circular Exempt Ibbi Insolvency Professionals Rti Act  act  facing  notice  rti  insolvency  resolution  information  circular  proceedings  ibbi  professionals  disciplinary  professional  exempt  info

History of this topic

IBC Weekly Round-Up: 16th December -20th December 2024
2 weeks, 2 days ago

IBC Weekly Round-Up: 16th December -20th December 2024

Live Law  

NCLAT The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that Non Fund Based facilities cannot be refused to be disbursed when the approved Resolution Plan contains a clause for their disbursement. 7303, 7304 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has …

Insolvency board moves to limit liquidators’ discretion
1 month, 2 weeks ago

Insolvency board moves to limit liquidators’ discretion

Live Mint  

The Insolvency and Bankruptcy Board of India has sought to limit the discretion of officials authorized to liquidate insolvent companies and has said they must consult creditors compulsorily when rejecting the highest bids. In a proposal released for public feedback on Tuesday, the IBBI also said liquidators must verify the highest bidder for the assets of the company getting dissolved …

IBBI Releases Discussion Paper On Real Estate Issues, Suggests Inclusion Of Land Authorities In CoC Meetings
1 month, 4 weeks ago

IBBI Releases Discussion Paper On Real Estate Issues, Suggests Inclusion Of Land Authorities In CoC Meetings

Live Law  

On 7th November, 2024, the Insolvency and Bankruptcy Board of India has released a discussion paper on the issues related with the Real Estate with seven proposals. Proposed Inclusion of Land Authorities in Committee of Creditors Meetings In corporate insolvency resolution processes involving real estate companies land authorities are crucial but currently they not represented in the Committee of Creditors. …

IBBI proposes amendments to insolvency rules; seeks public comments
6 months, 2 weeks ago

IBBI proposes amendments to insolvency rules; seeks public comments

The Hindu  

The Insolvency and Bankruptcy Board of India has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10. These amendments are expected to enhance the efficiency and transparency of the Corporate Insolvency Resolution Process, and benefiting creditors and other stakeholders involved in the CIRP. Seeking comments …

Ambiguities In Uploading Of NCLT Orders, Requirement Of Enclosing Certified Copies With Appeal : Supreme Court Seeks IBBI Clarification
7 months, 4 weeks ago

Ambiguities In Uploading Of NCLT Orders, Requirement Of Enclosing Certified Copies With Appeal : Supreme Court Seeks IBBI Clarification

Live Law  

The Supreme Court issued notice to the Insolvency and Bankruptcy Board of India, inter-alia, on the requirement to obtain a certified copy of the order and attach the same with the appeal. The Bench of Justices Sanjiv Khanna and Dipankar Datta has issued notice considering that there is “considerable ambiguity” in certain issues concerning the service of the orders passed …

IBBI cracks the whip on a dozen insolvency professionals
8 months, 3 weeks ago

IBBI cracks the whip on a dozen insolvency professionals

Live Mint  

A dozen professionals looking after the affairs of bankrupt firms taken over by lenders have faced disciplinary action by the Insolvency and Bankruptcy Board of India since January, showing the regulator is taking a dim view of lapses in following the Bankruptcy Code provisions. Orders issued by IBBI showed that disciplinary action ranged from issuing caution to the insolvency professional …

IBC Cases Quarterly Digest : January To March 2024
9 months ago

IBC Cases Quarterly Digest : January To March 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association V M/S. : Company Appeal No.231 of 2023 The National Company Law Appellate Tribunal, New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the Corporate Debtor cannot be absolved from its liability to discharge its Operational debt by the Insurance Company's payment to the Operational Creditor …

IBC Revolutionizes Corporate Insolvency
9 months ago

IBC Revolutionizes Corporate Insolvency

Deccan Chronicle  

Exactly, 10 years ago, in the run-up to the 2014 Lok Sabha elections, Narendra Modi, who was the BJP’s prime ministerial candidate, had said that traders have more risk-taking capacity than soldiers. Several hundreds of companies and lakhs of employees have benefitted from a relatively easy resolution process devised by IBC.After seven years of IBC’s journey, corporate litigation and disputes …

IBBI Directs Liquidator To Make Certain Declaration When Financial Service Provider Undergoes Voluntary Liquidation
10 months, 1 week ago

IBBI Directs Liquidator To Make Certain Declaration When Financial Service Provider Undergoes Voluntary Liquidation

Live Law  

The Insolvency and Bankruptcy Board of India has issued a circular dated 13.02.2024, intimating that when a Financial Service Provider undergoes voluntary liquidation under IBC, then the Liquidator shall declare that: the category of Financial Service Providers has been notified by the Central Government under Section 227 of IBC, and the corporate person has obtained prior permission from the appropriate …

IBBI Reduces Cooling Off Period Between Two Consecutive Attempts In Limited Insolvency Examination And Valuation Examinations
11 months ago

IBBI Reduces Cooling Off Period Between Two Consecutive Attempts In Limited Insolvency Examination And Valuation Examinations

Live Law  

The Insolvency and Bankruptcy Board of India has issued a circular dated 18.01.2024, intimating that the cooling-off period between two consecutive attempts in Limited Insolvency Examination and Valuation Examinations has been reduced to 21 days, from earlier cooling off period of 2 months. Brief background IBBI conducts the Limited Insolvency Examination in pursuance of Regulation 3 of the IBBI Regulations, …

IBBI Amends Regulations Regarding Insolvency Professionals w.e.f. 31st January 2024
11 months ago

IBBI Amends Regulations Regarding Insolvency Professionals w.e.f. 31st January 2024

Live Law  

The Insolvency and Bankruptcy Board of India has amended the Insolvency and Bankruptcy Board of India Regulations, 2016, with effect from 31.01.2024. Explanation.- The insolvency professional shall continue to discharge his duties, functions and responsibilities till the approval of resignation by the Adjudicating Authority.” The Clause 23B of First Schedule of IP Regulations states that an Insolvency Professional shall not …

Monthly Digest Of IBC Cases: January 2024
11 months, 1 week ago

Monthly Digest Of IBC Cases: January 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association V M/S. : Company Appeal No.231 of 2023 The National Company Law Appellate Tribunal, New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the Corporate Debtor cannot be absolved from its liability to discharge its Operational debt by the Insurance Company's payment to the Operational Creditor …

IBBI Amends Insolvency Professional Regulations W.E.F. 18th September 2023
1 year, 3 months ago

IBBI Amends Insolvency Professional Regulations W.E.F. 18th September 2023

Live Law  

The Insolvency and Bankruptcy Board of India vide its notification dated 18.09.2023, has notified amendments to the Insolvency and Bankruptcy Board of India Regulations, 2016. The amended provisions are: “6 An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board through the insolvency professional agency of which he is a member, …

IBBI Extends Facility Of CIRP Form Submission To Insolvency Professional Entities ( IPE) Acting As IP , No Fee Applicable Till 30th September 2023
1 year, 4 months ago

IBBI Extends Facility Of CIRP Form Submission To Insolvency Professional Entities ( IPE) Acting As IP , No Fee Applicable Till 30th September 2023

Live Law  

The Insolvency and Bankruptcy Board of India has issued a circular dated 01.09.2023, intimating that the facility for submitting the CIRP Forms has been extended to Insolvency Professional Entities, acting as Insolvency Professionals. To facilitate submission of forms for all assignments handled by these IPEs through the facility being introduced now, CIRP forms filed till 30.09.2023 shall not attract any …

S.220 IBC | Prima Facie Disciplinary Committee Can Consist Only Of Whole Time Members: Bombay High Court Stays Insolvency Professional's Suspension
1 year, 6 months ago

S.220 IBC | Prima Facie Disciplinary Committee Can Consist Only Of Whole Time Members: Bombay High Court Stays Insolvency Professional's Suspension

Live Law  

The Bombay High Court has stayed the suspension of registration of Insolvency Professional Kairav Anil Trivedi, who is accused of misrepresentation and entering into unauthorised agreement in a Corporate Insolvency Resolution Process. On May 23, 2023, the disciplinary committee had passed an order signed by Ravi Mital, IBBI Chairman, suspending Trivedi’s registration for six months. The court said that prima …

Weekly Digest Of IBC Cases: 27 February To 6 March 2023
1 year, 10 months ago

Weekly Digest Of IBC Cases: 27 February To 6 March 2023

Live Law  

NCLAT Case Title: Greymatter Entertainment Pvt. 1043 of 2021 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan and Ms. Shreesha Merla, has held that IBC does not prevent the Corporate Debtor from establishing defences of ‘Pre-existing dispute’ or ‘No amount due’ through its Reply to Section 9 application and supporting documents, even if it failed …

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI
1 year, 10 months ago

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Rakesh Kumar Jain and Mr. Naresh Salecha, while adjudicating an appeal filed in Insolvency & Bankruptcy Board of India v GTL Infrastructure Ltd. & Ors., has dismissed an appeal filed by the Insolvency and Bankruptcy Board of India, challenging the dismissal of a Section 7 petition in a matter …

Monthly Digest Of IBC Cases: December 2022
2 years ago

Monthly Digest Of IBC Cases: December 2022

Live Law  

Supreme Court Provisional Attachment Under PMLA Subsequent To Initiation Of CIRP: Supreme Court To Consider The Issue Case Title: Ashok Kumar Sarawagi v Enforcement Directorate & Anr. : Company Appeal No.1375 of 2022 The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Mr. Barun Mitra, has held that the only question to …

‘CBI Exempt from RTI Act’: Kerala High Court Upholds Single-Judge Bench’s Order
2 years, 2 months ago

‘CBI Exempt from RTI Act’: Kerala High Court Upholds Single-Judge Bench’s Order

News 18  

Upholding the order of a single-judge bench, a division bench of the Kerala High Court held that the Central Bureau Investigation is not liable to furnish information under the Right to Information Act as it is included in the second schedule of the Act, which exempts security organisations established by the Central Government. The Assistant Solicitor General argued that orders …

CBI Not Liable To Furnish Information Under RTI Act, Exempted U/S 24: Kerala High Court
2 years, 2 months ago

CBI Not Liable To Furnish Information Under RTI Act, Exempted U/S 24: Kerala High Court

Live Law  

The Kerala High Court recently observed that the Central Bureau of Investigation is not liable to furnish any information sought under the RTI Act, as it is included in the second schedule in contemplation of Section 24 of the RTI Act which exempts certain organisations from the Act.As per Section 24 of the RTI Act, the Act shall not apply …

IBBI Notifies Second Amendment To Insolvency Professional Regulations
2 years, 3 months ago

IBBI Notifies Second Amendment To Insolvency Professional Regulations

Live Law  

The Insolvency and Bankruptcy Board of India has amended the IBBI Regulations, 2016 for a second time and has notified the amendment on 13.09.2022. The amendment has added Clause 26A to the IP Regulations which states that an Insolvency Professional shall not accept /share any fees or charges from any professional and/or support service provider who are appointed under the …

Fee Payable To Insolvency Professional ; IBBI Notifies Third Amendment To CIRP Regulations
2 years, 3 months ago

Fee Payable To Insolvency Professional ; IBBI Notifies Third Amendment To CIRP Regulations

Live Law  

The Insolvency and Bankruptcy Board of India has amended the IBBI Regulations, 2016 for a third time and has notified the amendment on 13.09.2022. The amendment has introduced Clause 34B and Schedule II to the CIRP Regulations which have brought about the following changes: The fee of the interim resolution professional or the resolution professional, appointed on or after 1st …

IBBI Suspends Insolvency Professional For Violation Of Code Of Conduct
2 years, 6 months ago

IBBI Suspends Insolvency Professional For Violation Of Code Of Conduct

Live Law  

The Disciplinary Committee of the Insolvency and Bankruptcy Board of India, while adjudicating a Show Cause Notice in the matter of Mr. Kedarram Ramratan Laddha, has suspended the Insolvency Professional for a period of one year for accepting assignment as an Interim Resolution Professional without having a valid Authorisation for Assignment and while disciplinary proceedings were pending against him. The …

IBBI Amends Its Regulations On Information Utilities
2 years, 6 months ago

IBBI Amends Its Regulations On Information Utilities

Live Law  

The Insolvency and Bankruptcy Board of India has introduced second round of amendments to the Insolvency and Bankruptcy Board of India Regulations, 2017 vide a notification dated 14.06.2022, bearing No. Few prominent amendments as per the Notification dated 14.06.2022 are listed as follows: Before filing an application to initiate Corporate Insolvency Resolution Process under Section 7 or 9 of the …

Awareness Program On Insolvency Profession With Special Reference To Graduate Insolvency Program
2 years, 7 months ago

Awareness Program On Insolvency Profession With Special Reference To Graduate Insolvency Program

Live Law  

As part of the Azadi Ka Amrit Mahotsav, Insolvency and Bankruptcy Board of India, in association with the Insolvency Professional Agency of the Institute of Cost Accountants of India, conducted an "Awareness Program on Insolvency Profession with special reference to Graduate Insolvency Program" on 07th June 2022 at the Hidayatullah National Law University, Raipur. In his inaugural speech, Prof. Dr …

IBBI Rescinds Its Previous Circulars
2 years, 7 months ago

IBBI Rescinds Its Previous Circulars

Live Law  

The Insolvency and Bankruptcy Board of India vide its circular dated 23.05.2022 has rescinded various earlier circulars issued by IBBI by exercising its power under Section 196 of the Insolvency and Bankruptcy Code, 2016. As per circular dated 23.05.2022, IBBI conducted an exercise of review of its circulars and withdrew its earlier circulars as these circulars are no longer required …

Weekly Digest Of IBC Cases: 25th April To 1st May, 2022
2 years, 8 months ago

Weekly Digest Of IBC Cases: 25th April To 1st May, 2022

Live Law  

Insolvency and Bankruptcy Code Is Not For Money Recovery Proceedings: Supreme Court Reiterates Case Title: Invest Asset Securitisation and Reconstruction Pvt. 583/2021 National Company Law Appellate Tribunal Principal Bench comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Ms. Shreesha Merla, has held that the look back period prescribed under Section 46 of Insolvency & Bankruptcy Code, 2016 does not …

IBBI Notifies The Amended Insolvency And Bankruptcy Board Of India (Voluntary Liquidation Process) Regulations, 2017
2 years, 8 months ago

IBBI Notifies The Amended Insolvency And Bankruptcy Board Of India (Voluntary Liquidation Process) Regulations, 2017

Live Law  

The Insolvency and Bankruptcy Board of India has issued a Press Release on 08.04.2022 notifying the public that amendments have been made to Insolvency and Bankruptcy Board of India Regulations, 2017. Therefore, in order to curtail such delays and ensure faster exit for firms, amendments have been made to modify the timelines for activities undertaken during the voluntary liquidation process. …

IBBI Has Jurisdiction To Regulate Payment Of IRP And RP: NCLAT
2 years, 10 months ago

IBBI Has Jurisdiction To Regulate Payment Of IRP And RP: NCLAT

Live Law  

The NCLAT, Principal Bench consisting of Justice Ashok Bhushan, Chairperson and V.P. Singh, Technical Member in the case of Sumit Bansal, Insolvency Professional v. Committee of Creditors of JP Engineers held that the IBBI is clothed with the jurisdiction to regulate payment of remuneration of the RP and IRP both by framing regulations or by issuing executive instructions till regulations …

No Provision To Punish Creditors Filing False Claims Under IBC: Delhi High Court Issues Notice To IBBI, MCA
2 years, 11 months ago

No Provision To Punish Creditors Filing False Claims Under IBC: Delhi High Court Issues Notice To IBBI, MCA

Live Law  

The Delhi High Court has issued notice on a petition for framing of regulations under the Insolvency and Bankruptcy Code, 2016 for enforcing Section 15 thereof read with Regulation 6 of CIRP Regulations 2016, which states that "Submission of false or misleading proofs of claim shall attract penalties".The petition filed by Advocate Dr. Arun Mohan states that the Code does …

RFMLR-IBBI Blog Series Competition On Evolving Dynamics Of The Insolvency Regime In India [Submit by January 15, 2022]
3 years ago

RFMLR-IBBI Blog Series Competition On Evolving Dynamics Of The Insolvency Regime In India [Submit by January 15, 2022]

Live Law  

About Rajiv Gandhi National University of Law: The Rajiv Gandhi National University Of Law, Patiala Is An Autonomous National Law University That Was Established In 2006 And Has Garnered A Pan-India Reputation As A Stellar Institution For Legal Research And Education. The Blog Series Competition aims to further discourse on the practical and critical challenges faced by the insolvency regime …

𝙸𝚄𝚁𝙸𝚂 𝙹𝚄𝚁𝙰: 5 – Day Live Lecture Series On "IBC (Insolvency And Bankruptcy Code) 2016"
3 years, 1 month ago

𝙸𝚄𝚁𝙸𝚂 𝙹𝚄𝚁𝙰: 5 – Day Live Lecture Series On "IBC (Insolvency And Bankruptcy Code) 2016"

Live Law  

About The Organization Iuris Jura started in the year 2020, aiming to create legal awareness and provides learning related to the law topics. About The 4 – Day Live Lecture Series 𝙸𝚄𝚁𝙸𝚂 𝙹𝚄𝚁𝙰 takes immense pride in announcing that we are organizing a 5 Day - Live Lecture Series on •"IBC 2016 ". Section 10, 238 and 95 of IBC …

Formation of the Committee Of Creditors under the Insolvency and Bankruptcy Code: A Visible Collusion
3 years, 6 months ago

Formation of the Committee Of Creditors under the Insolvency and Bankruptcy Code: A Visible Collusion

Live Law  

The Insolvency and Bankruptcy Code, with the primary motive of rehabilitation of financially distressed corporates, came into force with effect from 1st December 2016. In State bank of India Vs. Metenere Ltd the NCLAT though upheld the NCLT ruling directing the SBI to substitute its nominee and Ex-OGM of theirs, to act as the Interim Resolution Professional to ensure CIRP …

India’s bankruptcy resolution professionals are under siege
3 years, 9 months ago

India’s bankruptcy resolution professionals are under siege

Live Mint  

MUMBAI : He was at his sister’s house in Mumbai when policemen from Uttar Pradesh came knocking last month. What followed was a nightmare—recalcitrant law enforcement officials, a surveillance operation gone wrong and a general lack of awareness about the protection guaranteed to resolution professionals under India’s Insolvency and Bankruptcy Code. “A lot of intimidation is faced by resolution professionals …

"Book Review Of "Insolvency And Bankruptcy Code- Law And Practice"
4 years ago

"Book Review Of "Insolvency And Bankruptcy Code- Law And Practice"

Live Law  

Writing a commentary on a law that is still growing at a pace faster than the fortunes of e-commerce businesses is, painful and challenging. The sheer volume of judgments from the Constitutional Courts and the National Company Law Appellate Tribunal and National Company Law Tribunals constitute the judicial side of the scheme of things under the Insolvency and Bankruptcy Code. …

Application Of Limitation Act To Resolution Process Under Insolvency & Bankruptcy Code
4 years, 1 month ago

Application Of Limitation Act To Resolution Process Under Insolvency & Bankruptcy Code

Live Law  

The liquidity in the Indian banking sector has seen a drastic plunge due to the threat of increasing non-performing assets. The National Company Appellate Law Tribunal, in an appeal on the same question of law reversed this stand and held that if there was a debt and there was default of debt having a continuous course of action, the claim …

Personal insolvency: SC to decide on transferring pending cases to itself
4 years, 2 months ago

Personal insolvency: SC to decide on transferring pending cases to itself

Live Mint  

The Supreme Court Wednesday said it would pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India seeking transfer of all petitions pending before different high courts challenging the provisions of IBC with regard to personal insolvency. Additional Solicitor General Madhavi Divan, appearing for IBBI, said that questions of law raised in these writ petitions …

[IBC] Suspension Of Initiation Of Corporate Insolvency Resolution Process Further Extended By Three Months [Read Notification
4 years, 3 months ago

[IBC] Suspension Of Initiation Of Corporate Insolvency Resolution Process Further Extended By Three Months [Read Notification

Live Law  

No application for initiation of corporate insolvency resolution process of a corporate debtor can be filed, for any default arising on or after 25th March, 2020 for a period further period of three months from the 25th September, 2020.Notification to this effect has been published in the official Gazette of India on Thursday.Recently, the Parliament had passed the Insolvency and …

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct
4 years, 3 months ago

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct

Firstpost  

The State Bank of India had moved the apex court to recover Rs 1,200 crore that it had loaned to two firms of the then-chairman of Reliance Communications New Delhi: The Supreme Court Thursday dismissed a plea by State Bank of India seeking resumption of insolvency proceedings against the then chairman of Reliance Communications, Anil Ambani, to recover Rs 1,200 …

SC Rejects SBI Plea for Resuming Insolvency Proceedings Against Anil Ambani
4 years, 3 months ago

SC Rejects SBI Plea for Resuming Insolvency Proceedings Against Anil Ambani

News 18  

The Supreme Court Thursday dismissed a plea by State Bank of India seeking resumption of insolvency proceedings against the then chairman of Reliance Communications, Anil Ambani, to recover Rs 1,200 crore loan granted to his two firms. The top court refused to vacate the stay granted by the Delhi High Court by its interim order on the personal insolvency proceedings …

Delhi HC Issues Notice In Plea Challenging The IBC Ordinance Whereby The Operation of Section 10 Has Been Suspended
4 years, 5 months ago

Delhi HC Issues Notice In Plea Challenging The IBC Ordinance Whereby The Operation of Section 10 Has Been Suspended

Live Law  

Delhi High Court has issued notice in a plea challenging the validity of Insolvency and Bankruptcy Code Ordinance, 2020 whereby the operation of sections 7,9 and 10 of the IBC has been suspended. Filed by Mr Rajiv Suri, the petition claims that the impugned Ordinance suspends the operation of sections 7, 9 and 10 of the IBC, depriving the corporate …

Delhi HC Stays Imposition Of Penalty On Insolvency Professional Who Allegedly Violated The Terms Of Moratorium, Going Against The Provisions Of IBC [Read Order]
4 years, 6 months ago

Delhi HC Stays Imposition Of Penalty On Insolvency Professional Who Allegedly Violated The Terms Of Moratorium, Going Against The Provisions Of IBC [Read Order]

Live Law  

Delhi High Court has stayed the penalty imposed on an Insolvency Professional who allegedly violated the provisions of the Insolvency and Bankruptcy Code by going against the terms of the moratorium. The Single Bench of Justice AK Chawla has stayed the penalty subject to the Petitioner depositing within 10 days from today a sum of Rs.25 lacs with the Insolvency …

Recommendations Of The Insolvency Law Committee: Time For More Changes In IBC
4 years, 8 months ago

Recommendations Of The Insolvency Law Committee: Time For More Changes In IBC

Live Law  

The bankruptcy law framework of India has undergone changes several times since it came into force in the form of the Insolvency and Bankruptcy Code, 2016. Distribution of profits earned during the CIRP period Another concern has been in relation to the profits earned by a corporate debtor during the period of corporate insolvency resolution process. In line with the …

Parliament Passes IBC (Amendment) Bill, 2020 [Read Bill]
4 years, 9 months ago

Parliament Passes IBC (Amendment) Bill, 2020 [Read Bill]

Live Law  

The Rajya Sabha today passed the Insolvency and Bankruptcy Code Bill, 2019, by voice vote. As per the statement of Objects and Reasons annexed with the Bill, "A need was felt to give the highest priority in repayment to last mile funding to corporate debtors to prevent insolvency, in case the company goes into corporate insolvency resolution process or liquidation, …

Research Associate (Law) Vacancy At Insolvency And Bankruptcy Board Of India
4 years, 10 months ago

Research Associate (Law) Vacancy At Insolvency And Bankruptcy Board Of India

Live Law  

The Insolvency and Bankruptcy Board of India established under the Insolvency and Bankruptcy Code, 2016 invites applications from eligible candidates for engagement as Research Associates on a contract basis to assist the Board in the discharge of its functions under the Insolvency and Bankruptcy Code, 2016 Name of the Post: Research Associate Essential Qualification and Experience LL. B or equivalent …

How will disclosure of Mallya's extradition expenses impede his prosecution: CIC asks CBI
5 years, 4 months ago

How will disclosure of Mallya's extradition expenses impede his prosecution: CIC asks CBI

India TV News  

The Central Information Commission has directed the CBI to explain how disclosure of expenses incurred on the extradition of Vijay Mallya will hamper his pending apprehension and prosecution. The Section 24 exempts security and intelligence organisations listed in the second schedule including the CBI from "anything" contained in the RTI Act. When the matter reached the CIC, highest adjudicating body …

IBBI Amends Regulations Governing Corporate Insolvency Resolution Process
7 years, 1 month ago

IBBI Amends Regulations Governing Corporate Insolvency Resolution Process

Live Law  

The article outlines the amendments made to the Insolvency and Bankruptcy Board of India (IBBI) regulations governing the corporate insolvency resolution process. These amendments aim to ensure that the resolution plan of the debtor company leads to a credible resolution plan that maximizes the value of assets of the corporate debtor.

Discover Related