Aim: To ensure filing of authentic information with IBBI and further enable IBBI to share information relating to the application for initiation of CIRP with the IU efficiently Result/Impact: The format for filing application for initiating CIRP agai...
Read MoreApplicability: All Listed Companies / Interim Resolution Professionals (IRP)/ Resolution Professionals (RP) (Segment- Equity) Aim: Strict adherence to filing the disclosures at various stages of Corporate Insolvency Resolution Process (CIRP) in the d...
Read MoreAim: Relaxations due to COVID-19 second wave Result/Impact: 1. Authorization for assignment shall now be considered automatically as renewed or issued if the Board does not reject the application of IPA in place of earlier limit of 15 days. It provid...
Read MoreAim: Ensuring quicker, cost-effective and value maximising outcomes for all the stakeholders, in amanner which is least disruptive to the continuity of their businesses and which preserves jobs Result/Impact: Government has taken several measures to ...
Read MoreAim: Speedy resolution & creditors’ ease Result/Impact: 1. Creditor is required to mandatorily update its claim as and when the claim is satisfied, partly or fully, from any source in any manner, after the insolvency commencement date. 2. F...
Read MoreAim: To expedite faster resolution of companies Result/Impact: Multiple litigations initiated by stakeholders during the CIRP process, administrative delays at NCLT and inconsistencies in judgments across benches have been some of the key driving for...
Read MoreAim: To address certain operational difficulties and alignment with existing provisions in other laws Result/Impact: SEBI has amended Schedule III Part A of LODR Regulations related to ‘Events which shall be disclosed without any application of...
Read MoreAim: For delivering speedier resolutions Result/Impact: Government constituted a sub-committee of Insolvency Law Committee (ILC) vide order dated 24.6.2020 to prepare a detailed scheme for implementing pre-pack and prearranged insolvency resolution p...
Read MoreAim: To prevent the corporate persons which are experiencing distress being pushed into insolvency proceedings under the IB Code,2016 and to exclude the defaults arising due to the unprecedented situation of distress from the insolvency proceedings. ...
Read MoreAim: To examine certain policy proposals, to remove redundant provisions, to align with existing applicable acts and other SEBI Regulations, and also to address certain operational difficulties Result/Impact: “SEBI in its meeting held on Decemb...
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