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AMENDED INSOLVENCY REGULATIONS
Govt relaxes insolvency rules for MSMEsNew rules aim to simplify insolvency for MSMEs. Only one valuer will be appointed per asset class, cutting costs. Strict new regulations pr...- Faster insolvency process proposed with creditor-led resolution frameworkA new Creditor-initiated Insolvency Resolution Process (CIIRP) aims to expedite debt resolution, allowing financial creditors with 51% debt...
- Personal guarantors to bankrupt firms will need to declare crypto holding, art collections in IBC proceedingsNew draft rules will require personal guarantors of stressed companies to declare all personal assets. This includes crypto, jewellery, and...
- New creditor-led IBC framework to put in place safeguards for stressed firm's managementNew creditor-led insolvency rules will impose strict financial transaction limits on stressed companies, requiring committee of creditors' ...
- Committee of creditors can invite land authorities in realty insolvency cases: FM Nirmala SitharamanFinance Minister Nirmala Sitharaman announced amendments to insolvency regulations, allowing land authorities to join creditor meetings. Th...
- Banks cannot see, record what valuables customers store in lockers: Nirmala SitharamanBanks are unable to inspect the contents of customer lockers. Finance Minister Nirmala Sitharaman stated this prevents differential insuran...
- Proposed IBC amendments to expedite resolution of stressed companies: IBBI ChairmanRavi Mital says bankruptcy law changes will speed up stressed company resolutions. Nirmala Sitharaman introduced amendments to the Insolven...
- Insolvency framework amended to simplify complianceUnder the revised reporting framework, the existing nine forms will be compressed into five by removing duplication, streamlining data requ...
- IBBI amends norms to streamline, ensure more transparency in insolvency resolution processRegulator IBBI has amended corporate insolvency resolution process norms to increase transparency and accountability. Separate accounts, va...
- IBBI amends norms related to insolvency resolution process for personal guarantorsIBBI has made amendments to the insolvency resolution process for personal guarantors and voluntary liquidation process. The changes remove...
- In a first, senior IBBI functionaries endorse focus on ESG in insolvency resolutionA paper by two senior functionaries of the insolvency regulator in India has proposed amending the bankruptcy law to include consideration ...
- Bankruptcy Board, IBBI, amends regulations to reduce delays in insolvency processThe scope of mandatory consultation by the liquidator with SCC has been enhanced. Now, SCC may even propose replacement of liquidator to th...
- IBBI amends regulations to boost value of stressed companiesThe Insolvency and Bankruptcy Board of India (IBBI) has amended the regulations with the "objective to maximise value in resolution" and th...
- Insolvency resolution process rules updatedThe new rules will require resolution professionals to provide details about their opinion on avoidance transactions of the corporate debto...
- IBBI amends regulations; seeks to enhance discipline, transparency in insolvency processThe Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process...
- Changes in IBBI norms to prevent backdoor entry of ex-promoters in cos under liquidation: ExpertsNow, those who were ineligible are barred from being part of any arrangement at the stage of liquidation.
- IBBI notifies mechanism for issuing regulationsUnder the mechanism, a draft of regulations would be put out for public consultations as well as a statement of the problem that the propos...
- Guarantors too will be in insolvency netIBBI is readying rules that will enable creditors to go after guarantors of failed cos to recover dues.
- IBBI tightens rules for insolvency prosAccording to the amendment, the sole objective of IPE is to provide support services to IPs.
- Should revised bids be allowed in the insolvency resolution process?The Binani Cement and the Bhushan Power & Steel cases highlight the importance of having a clear and credible process of bidding for stress...
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