TMI BlogInsolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... India hereby makes the following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 , namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019. (2) They shall come into force on the date of their 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), in r egulation 36B, after sub-regulation (4), the following sub-regulation shall be inserted, namely: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Adjudicating Authority at any time in the past. . 4. In the principal regulations , in regulation 39 ,- (i) in sub-regulation (4), for Form H of the Schedule , the following shall be substituted, namely: - Form H of the Schedule and the evidence of receipt of performance security required under sub-regulation (4A) of regulation 36B. ; (ii) after sub-regulation (8), the following sub-regulation shall be inserted, namely:- (9) A creditor, who is aggrieved by non-implementation of a resolution plan approved under sub-section (1) of section 31, may apply to the Adjudicating Authority for directions. . 5. In the principal regulations , in the Schedule, in Form H, - (a) for paragraph 7, the following shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e are sub-categories in a category, please add rows for each sub-category. # Amount provided over time under the Resolution Plan and includes estimated value of non-cash components. It is not NPV. ; (b) in paragraph 9, after the rows relating to Regulation 38(1A) and 39(2) , the following shall respectively be inserted, namely: - Section of the Code/Regulation No. Requirement with respect to Resolution Plan Clause of resolution plan Compliance (Yes/No) Regulation 38(1B) (i) Whether the Resolution Applicant or any of its related parties has failed to implement or contributed to the failure of implementation of any resolution plan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sons) (Fourth Amendment) Regulations, 2017 vide notification No. IBBI/2017- 18/GN/REG022, dated the 31st December, 2017; 5) The Insolvency and Bankruptcy Board of India (Insolvency resolution Process for Corporate Persons) (Amendment) Regulations, 2018 vide notification No. IBBI/2017-18/GN/REG024, dated the 6th February, 2018 ; 6) The Insolvency and Bankruptcy Board of India (Insolvency resolution Process for Corporate Persons) (Second Amendment) Regulations, 2018 vide notification No. IBBI/2017-18/GN/REG030, dated the 27th March, 2018 ; 7) The Insolvency and Bankruptcy Board of India (Insolvency resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018 vide notification No. IBBI/2018-19/GN/REG031, dated the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
