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

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

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

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

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

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.

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

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

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…

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