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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy

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..... Process for Corporate Persons) (Fourth Amendment) Regulations, 2022. (2) They shall come into force on the date of publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (hereinafter referred to as ‘the principal regulations’), after regulation 4B, the following shall be inserted, namely: - “4C. Process e-mail. (1) The interim resolution professional shall open an email account and use it for all correspondences with stakeholders and in the event of his replacement by a resolution professional, shall handover the credentials of the email to him. (2) The resolution professional shall, in case of his replacement with ano .....

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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy

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..... ub-regulation (2), he shall apply to the Adjudicating Authority for appropriate relief on or before the one hundred and thirtieth day of the insolvency commencement date.” 6. In the principal regulations, in regulation 35A, after sub-regulation (3), the following shall be inserted, namely:- “(3A) The resolution professional shall forward a copy of the application to the prospective resolution applicant to enable him to consider the same while submitting the resolution plan within the time initially stipulated.” 7. In the principal regulations, in regulation 36, (i) in sub-regulation (1), for the words “within two weeks of his appointment, but not later than fifty-fourth day from the insolvency commencement date, whic .....

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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy

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..... wth drivers in case of a corporate debtor having book value of total assets exceeding one hundred crores rupees as per the last available financial statements” 8. In the principal regulations, in regulation 36A, in sub-regulation (1), for the words “not later than seventy fifth day”, the words “not later than sixtieth day” shall be substituted. 9. In the principal regulations, in regulation 36B, after sub-regulation (6) the following sub-regulation shall be inserted, namely:- “(6A) If the resolution professional, does not receive a resolution plan in response to the request under this regulation, he may, with the approval of the committee, issue request for resolution plan for sale of one or more of asset .....

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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy

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..... esolution professional shall submit the committee’s recommendation to the Adjudicating Authority while filing application under section 33. (2) Where a recommendation has been made under sub-regulation (1), the resolution professional and the committee shall keep exploring the possibility of compromise or arrangement during the period the application to liquidate the corporate debtor is pending before the Adjudicating Authority.” 13. In the principal regulations, in regulation 40A, for the Table the following shall be substituted, namely:- Section / Regulation Description of Activity Norm Latest Timeline Section 16(1) Commencement of CIRP and appointment of IRP …. T Regulation 6(1) Public announcement inviting claims With .....

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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy

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..... ty voting, by RP to AA Within 3 days of approval by CoC W+10 Regulation 35A RP to form an opinion on preferential and other transactions Within 57 days of the commencement T+75 RP to make a determination on preferential and other transactions Within 115 days of commencement T+115 RP to file applications to AA for appropriate relief Within 130 days of commencement T+130 Regulation 36 (1) Submission of IM to CoC Within 95 days of commencement T+57 Regulation 36A Publish Form G Within 60 days of commencement T+60 Invitation of EoI Submission of EoI At least 15 days from issue of EoI (Assume 15 days) T+75 Provisional List of RAs by RP Within 10 days from the last day of receipt of EoI T+85 Submission of objections to provisional list For 5 days .....

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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy

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..... PE] AT [LOCATION(S)] (Under Regulation 36A(1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016) RELEVANT PARTICULARS 1. Name of the corporate debtor along with PAN/ CIN/ LLP No. 2. Address of the registered office 3. URL of website 4. Details of place where majority of fixed assets are located 5. Installed capacity of main products/ services 6. Quantity and value of main products/ services sold in last financial year 7. Number of employees/ workmen 8. Further details including last available financial statements (with schedules) of two years, lists of creditors, relevant dates for subsequent events of the process are available at: 9. Eligibility for resolution applicants .....

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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy

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  1. Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  2. Insolvency and Bankruptcy Code, 2016
  3. Section 240 - Power to make regulations. - Insolvency and Bankruptcy Code, 2016
  4. Section 196 - Powers and functions of Board. - Insolvency and Bankruptcy Code, 2016
  5. SCHEDULE-I - FORM G - INVITATION FOR EXPRESSION OF INTEREST - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  6. Regulation 6A - Communication to creditors - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  7. Regulation 6 - Public announcement. - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  8. Regulation 4C - Process e-mail - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  9. Regulation 4B - Disclosure of change in name and address of corporate debtor - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  10. Regulation 40D - Decision for liquidation - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  11. Regulation 40C - Special provision relating to time-line - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  12. Regulation 40A - Model time-line for corporate insolvency resolution process - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  13. Regulation 39BA - Assessment of Compromise or Arrangement - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  14. Regulation 39B - Meeting liquidation cost - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  15. Regulation 37 - Resolution plan. - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  16. Regulation 36C - Strategy for marketing of assets of the corporate debtor. - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  17. Regulation 36B - Request for resolution plans. - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  18. Regulation 36A - Invitation of Resolution Plans - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  19. Regulation 36 - Information memorandum. - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  20. Regulation 35A - Preferential and other transactions. - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016
  21. Regulation 18 - Meetings of the committee. - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016