Amendments Archives

Insolvency and Bankruptcy Code (Amendment) Act, 2021 – 11.08.2021

Posted by IBC Lawson August 12, 2021August 13, 2021in Amendments, IBC News

Insolvency and Bankruptcy Code (Amendment) Act, 2021 Click here to download in PDF Insolvency and Bankruptcy Code (Amendment) Act, 2021Download Click here for the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 – 04.04.2021

IBBI (Insolvency Professionals) (Second Amendment) Regulations, 2021 – No. IBBI/2021-22/GN/REG077 dated 22.07.2021

Posted by IBC Lawson July 23, 2021July 23, 2021in Amendments, IBC News, Notifications & Circulars-Main

INSOLVENCY AND BANKRUPTCY BOARD OF INDIANOTIFICATIONNew Delhi, the 22nd July, 2021Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2021 No. IBBI/2021-22/GN/REG077.- In exercise of the powers conferred by sections 196, 207 and 208 read with section 240…

IBBI (Model Bye-Laws and Governing Board of IPAs) (Third Amendment) Regulations, 2021

Posted by IBC Lawson July 23, 2021July 23, 2021in Amendments, IBC News, Notifications & Circulars-Main

INSOLVENCY AND BANKRUPTCY BOARD OF INDIANOTIFICATIONNew Delhi, the 22nd July, 2021Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Third Amendment) Regulations, 2021 No. IBBI/2021-22/GN/REG076.- In exercise of the powers conferred by sections 196,…

e-filing of pleading before DRT & DRAT shall be mandatory where the debt to be recovered is Rs. 100 crore and above – GSR-501(E) dated 22.07.2021

Posted by IBC Lawson July 22, 2021July 22, 2021in Amendments, IBC News, Notifications & Circulars-Main

As per sub-rule (2) of Rule 3 of The DRT and DRAT Electronic Filing Rules, 2020, the e-filing of pleadings by applicants shall be optional. Now, a proviso has been inserted that e-filing of pleading shall be mandatory where the debt to be recovered, as mentioned in the application, is rupees one hundred crore and above.

IBBI amends CIRP Regulation, 2016 – N. No. IBBI/2021-22/GN/REG075 dt. 14.07.2021

Posted by IBC Lawson July 14, 2021July 14, 2021in Amendments, IBC News, Notifications & Circulars-Main

THE GAZETTE OF INDIA EXTRAORDINARYPART III, SECTION 4PUBLISHED BY AUTHORITYNew Delhi, Wednesday, July 14, 2021 INSOLVENCY AND BANKRUPTCY BOARD OF INDIANOTIFICATIONNew Delhi, 14th July, 2021 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations,…

MCA amends Companies (Creation and Maintenance of databank of Independent Directors) Rules, 2019 – MCA N. No. GSR-418(E) dated 18.06.2021

Posted by IBC Lawson June 18, 2021June 24, 2021in Amendments, Companies Act News

MCA inserted new sub-rule under Rule 3 : In case of delay on the part of an individual in applying to the institute under sub-rule (7) for inclusion of his name in the data bank or in case of delay in filing an application for renewal thereof, the institute shall allow such inclusion or renewal, as the case may be, under rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014 after charging a further fees of one thousand rupees on account of such delay.

MCA amends IEPFA Accounting, Audit, Transfer & Refund Rules, 2016

Posted by IBC Lawson June 10, 2021June 10, 2021in Amendments, Companies Act News

MCA inserts new rule 6A manner of transfer of shares under sub-section (9) of section 90 of the Companies Act to the Fund and Form No. IEPF-4 in IEPFA Accounting, Audit, Transfer & Refund Rules, 2016.

Corrigenda to Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021

Posted by IBC Laws Editoron April 6, 2021April 6, 2021in Amendments

MINISTRY OF LAW AND JUSTICE(Legislative Department) New Delhi, the 5th April, 2021/ Chaitra 15, 1943 (Saka) CORRIGENDA In the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 (Ord. 3 of 2021), published in the Gazette of India, Extraordinary, Part II,…

Govt. introduces a Pre-Packaged Insolvency Resolution Process for Corporate Persons classified as MSME – The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 – 04.04.2021

Posted by IBC Lawson April 5, 2021August 12, 2021in Amendments5 Comments

Preamble of the Ordinance: It is considered expedient to provide an efficient alternative insolvency resolution process for corporate persons classified as micro, small and medium enterprises under the Insolvency and Bankruptcy Code, 2016, ensuring quicker, cost-effective and value maximising outcomes for all the stakeholders, in a manner which is least disruptive to the continuity of their businesses and which preserves jobs; In order to achieve these objectives, it is considered expedient to introduce a pre-packaged insolvency resolution process for corporate persons classified as micro, small and medium enterprises.

Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020

Posted by IBC Laws Editoron November 17, 2020November 19, 2020in Amendments

GAZETTE OF INDIAEXTRAORDINARYPART III, SECTION 4PUBLISHED BY AUTHORITY INSOLVENCY AND BANKRUPTCY BOARD OF INDIANOTIFICATIONNew Delhi, the 13th day of November, 2020 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2020. No. IBBI/2020-21/GN/REG066. —In…

Chapter	Topic	Content
CH-2: General & Definitions
		Short Note on Insolvency and Bankruptcy Code, 2016 (IBC, 2016)
		Dispute and Existence of a Dispute
		Operational Debt and Operational Creditor
		Persons who may initiate Corporate Insolvency Resolution Process(CIRP)
		Analysis provisions of Limitation Act, 1963 with respect to Insolvency and Bankruptcy Code, 2016
CH-3: CIRP
	Topic-1 : CIRP Application & Withdrawal
		Analysis of Minimum amount of default under Section 4 of IBC
		Procedure of filing application by Financial Creditor before NCLT under Section 7 of the IBC
		Procedure of filing application by Operational Creditor before NCLT under Section 8 & 9 of the IBC
		Initiation of CIRP by corporate applicant under Section 10 of the IBC
		Analysis of withdrawal of CIRP proceeding pursuant to settlement under Section 12A of Insolvency and Bankruptcy Code, 2016 (IBC)
	Topic-2 : Declaration of moratorium and public announcement
		Declaration of moratorium and public announcement [Section 13, 14 & 15 of the IBC]
		All about the Moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 including judicial pronouncements
	Topic-3 : Appointment and tenure of IRP & RP
		Appointment and tenure of Interim Resolution Professional and Resolution Professional [Section 16, 22 & 27 of the IBC]
		Role of an Interim Resolution Professional and Resolution Professional
	Topic-4 : Management of affairs by IRP
	Topic-5 : Receive and collate all the claims submitted by creditors
	Topic-6 : Committee of creditors and meetings
		Constitution of Committee of Creditors under Section 21 of IBC
		Role of Committee of Creditors & It’s Commercial Wisdom
		Analysis of provisions on Authorised Representative under IBC
		Meetings & Voting of the Committee of Creditors under Section 24 of the IBC
	Topic-7 : RP to conduct the CIRP and manage the operations
		Resolution Professional to conduct the CIRP and manage the operations of the Corporate Debtor
		Insolvency Resolution Process Costs & Essential supplies
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-8 : CIRP and Resolution Plan
		Information Memorandum, Expression of Interest, Request for Resolution Plans & Resolution Plans
		Role of the prospective resolution applicant
		Persons not eligible to be Resolution Applicant [Sec. 29A of IBC]
		Submission and approval of the Resolution Plan
		Liability for prior offences under Section 32A of the IBC
CH-4 : Liquidation Process
	Topic-1 : Initiation of Liquidation
	Topic-2 : Appointment & Remuneration of Liquidator
		Appointment & Remuneration of Liquidator under Sec. 34 of IBC
		Powers and duties of Liquidator under Sec. 35, 37 of IBC
	Topic-3: Liquidation Estate
	Topic-4: Public announcement, Preliminary report, Early dissolution and Progress reports under Liquidation
	Topic-5: Claims under Liquidation
	Topic-6: Preferential, undervalued and Extortionate Credit Transactions
		Preferential, Undervalued and Extortionate Credit Transactions under Sec. 43, 44, 45, 46, 47, 48, 49, 50, 51 of IBC
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-7: Secured Creditor in Liquidation Proceedings
	Topic-8: Realisation of Assets in Liquidation Proceedings
	Topic-9: Proceeds of Liquidation and Distribution of Proceeds
CH-5 : Personal Guarantor
		Chapter VIII Indemnity and Guarantee of Indian Contract Act, 1872
		All about Personal Guarantor under IBC Part-I
		All about Personal Guarantor under IBC Part-II
		Insolvency Resolution Process Regulation
		Bankruptcy Process for PG Regulation
		IRP Application to AA Rules
		Bankruptcy Process Application to AA Rules

Category: Amendments