Application under Rule 4, 6 or 7 of Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016 – IBBI Circular No. IBBI/IU/51/2022 dated 15.06.2022

Insolvency and Bankruptcy Board of India7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001. CIRCULAR No. IBBI/IU/51/2022 15th June, 2022 ToInformation Utility(By mail to registered email address and on the website of the IBBI) Dear Madam /Sir, Subject: Application under Rule…

Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2022 w.e.f. 01.07.2022

Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2022 June 08, 2022 Corporate Insolvency The Insolvency and Bankruptcy Board of India (Board) is required under the Insolvency and Bankruptcy Code, 2016 (Code)…

Improvement to the scheme of examinations – frequency of attempts in Limited Insolvency Examination/ Valuation Examinations – IBBI Circular EXAM-13016/1/2022-IBBI dated 06.06.2022

Frequency of attempt in an LIE or valuation examination, as the case may be, for every candidate, shall be determined after taking into account a cooling off period of 2- months between each consecutive attempts of such candidate, thereby making a total of 6 attempts in a period of 12 months.

Standard Operating Procedure (SOP) for NCLT cases in respect of the Insolvency and Bankruptcy Code (IBC) – CBIC

Instruction No. 1083/04/2022-CX9 dated 23.05.2022 FA No.  296/286/2021-CX.9Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes & Customs************* Dated:- 23-05-2022 To All Principal Chief Commissioner(s)/ Chief Commissioner(s) of Customs/ Customs (Preventive)/ Customs & CGST,All Principal Chief Commissioner(s)/ Chief…

IBBI revokes 7 Circulars – IBBI Circular No. IBBI/CIRP/3/2022 dated 23.05.2022

The Board issues Regulations in line with the Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018. The Board also issues Circulars in exercise of powers under section 196 of the Insolvency and Bankruptcy Code, 2016. In line with the same, the Board conducted an exercise of review of circulars issued by the Board. It was observed that certain circulars are no longer required on account of being already provided in IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 or IBBI (Insolvency Professionals) Regulations, 2016 as the case may be. After reviewing the circulars, it has been decided to rescind circulars listed in the Annexure, with immediate effect.

Syllabus for Limited Insolvency Examination w.e.f 1st March 2022 – IBBI Press Release No. IBBI/PR/2021/33 dated 30.11.2021

Insolvency and Bankruptcy Board of India(Press Release) No. IBBI/PR/2021/3330th November 2021 Limited Insolvency Examination w.e.f 1st March 2022 The Insolvency and Bankruptcy Board of India hereby publishes the syllabus and details of the Limited Insolvency Examination (Examination) under regulation 3…

Filing of list of creditors under clause (ca) of sub-regulation (2) of regulation 13 of the IBBI (CIRP) Regulations, 2016 – Circular No. IBBI/CIRP/47/2021 dated 24.11.2021

Insolvency Professional (IP) to file list of creditors on the electronic platform of the Board for dissemination on its website, the Board had issued the Circular No. IBBI/CIRP/36/2020 dated 27th November, 2020 directing the IP to file the list of creditors and modification thereof in the stipulated format on electronic platform viz. http://www.ibbi.gov.in.

Filing of list of stakeholders under clause (d) of sub-regulation (5) of regulation 31 of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 – IBBI Circular No. IBBI/LIQ/46/2021 dated 24.11.2021

Insolvency and Bankruptcy Board of India7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110001 CIRCULAR No. IBBI/LIQ/46/2021 24th November, 2021 ToAll Registered Insolvency ProfessionalsAll Recognised Insolvency Professional EntitiesAll Registered Insolvency Professional Agencies(By mail to registered email addresses and on…

Clarification regarding requirement of seeking No Objection Certificate or No Dues Certificate from the Income Tax Department during Voluntary Liquidation Process under the Insolvency and Bankruptcy Code, 2016 – IBBI Circular – IBBI/LIQ/45/2021 dated 15.11.2021

It is clarified that as per the provisions of the Code and the Regulations read with Section 178 of the Income-tax Act, 1961, an Insolvency Professional handling voluntary liquidation process is not required to seek any NOC/NDC from the Income Tax Department as part of compliance in the said process.