IBBI lists out potential red flags to detect avoidance transactions
August 30, 2020 INSOL INDIA EDITORIAL TEAM
Pre-dominance of cash transactions, independence of directors, and frequent changes of auditors are among the potential red flags for insolvency professionals in detecting avoidance transactions during insolvency proceedings, according to an Insolvency and Bankruptcy Board of India (IBBI)IBBI document titled..
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Limit on the number of assignments for an Insolvency Professional
August 30, 2020 INSOL INDIA EDITORIAL TEAM
The Insolvency & Bankruptcy Board of India (IBBI) has proposed to impose a limit on the number of assignments to be handled by an Insolvency Professional (IP) at a certain point of time in a discussion paper dated July 1,..
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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2020
August 30, 2020 INSOL INDIA EDITORIAL TEAM
On August 7, 2020, the IBBI enacted the IBBI (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2020 (“CIRP Amendment Regulations”). The CIRP Amendment Regulations has made the following amendments to the IBBI (Insolvency Resolution Process for Corporate Persons)..
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Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2020
August 30, 2020 INSOL INDIA EDITORIAL TEAM
On August 5, 2020, the IBBI enacted the IBBI (Voluntary Liquidation Process) (Second Amendment) Regulations, 2020 (“VLP Amendment Regulations”). The VLPAmendment Regulations substituted regulation 5 of the IBBI (Voluntary Liquidation Process) Regulations, 2017, (“VLP Regulations”) which provides for the appointment..
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Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020
August 30, 2020 INSOL INDIA EDITORIAL TEAM
On August 5, 2020, the IBBI enacted the IBBI (Liquidation Process) (Third Amendment) Regulations, 2020 (“LP Amendment Regulations”). By virtue of the LP Amendment Regulations, a clarification is inserted after regulation 4(2)(b) of the IBBI (Liquidation Process) Regulations, 2016 (“LP..
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Insolvency and Bankruptcy Board of India(Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations)Guidelines, 2020
August 30, 2020 INSOL INDIA EDITORIAL TEAM
On July 10, 2020, The Insolvency and Bankruptcy Board of India (“IBBI”) released the IBBI (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines 2020 (“IPA guidelines”). The IPA Guidelines have..