Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2020 dated 20 April 2020
June 1, 2020
1. Payment of registration fees by insolvency professionals:The registration fee, payable by the insolvency professional for the financial year 2019-20, shall be paid to the IBBI on or before 30thJune 2020 (in accordance with Regulation 7(2)(ca)); 2. Cessation of director/partner:Upon cessation of an..
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Interpretation of IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2020 dated 20 April 2020
June 1, 2020 Substitution of sub-regulation (4) of Regulation 40B as follows
“(4) The filing of a Form under this Regulation after due date of submission, whether by correction, updation or otherwise, shall be accompanied by a fee of five hundred rupees per Form for each calendar month of delay after 1stOctober,..
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IBBI (Liquidation Process) (Second Amendment) Regulations, 2020 dated 20 April 2020
June 1, 2020 Insertion of Regulation 47A relating to exclusion of lockdown period for liquidation related activities
By virtue of Regulation 47A, the period of lockdown imposed by the Central Government due to the outbreak of COVID-19 shall not be counted for the purposes of computation of the timeline for liquidation and such lockdown period shall not..
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IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020 dated 20 April 2020
June 1, 2020 Insertion of Regulation 40C relating to exclusion of lockdown period for computation of timeline of CIRP
By virtue of Regulation 40C, the period of lockdown imposed by the Central Government due to the outbreak of COVID-19 shall not be counted for the purposes of computation of timeline of CIRP and such lockdown period shall not be..
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AMENDMENTS IN THE INSOLVENCY AND BANKRUPTCY LAW
June 1, 2020 MCA-21 Portal - Compliance by Insolvency Resolution Professionals & Liquidators (MCA Circular dated 6th March, 2020)
Form INC-28 is to be filed after the appointment: The IRP/RP/Liquidator is required to file the order of the NCLT approving him/her as the IRP/RP/Liquidator in form INC-28 on the MCA-21 portal. The following points must be kept in mind while..
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RERA and Force Majeure
June 1, 2020 INSOL India - Editorial Team
The Ministry of Housing and Urban Affairs (Housing Section), through the Central Advisory Council (“CAC”) vide notification dated 13 May 2020, confirmed Covid-19 as a ‘forcemajeure’event as defined under section 6 of RERA and gave some directions to State Regulators..