TMI BlogInsolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2020.X X X X Extracts X X X X X X X X Extracts X X X X ..... ankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2020. No. IBBI/2020-21/GN/REG064 .- In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016) , the Insolvency and Bankruptcy Board of India hereby makes the following regula ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Union Territory, as the case may be, which has the highest number of creditors in the class as per their addresses in the records of the corporate debtor: Provided that where such State or Union Territory does not have adequate number of insolvency professionals, the insolvency professionals having addresses in a nearby State or Union Territory, as the case may be, shall be considered; . 3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng sub-regulations shall be substituted, namely: - (3) The committee shall- (a) evaluate the resolution plans received under sub-regulation (2) as per evaluation matrix; (b) record its deliberations on the feasibility and viability of each resolution plan; and (c) vote on all such resolution plans simultaneously. (3A) Where only one resolution plan is put to vote, it shall be consi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der: Voting outcome % of votes in favour of Status of approval Plan A Plan B 1 55 60 No Plan is approved, as neither of the Plans received requisite votes. The committee shall vote again on Plan B, which received the higher votes, subject to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020 published vide notification No. IBBI/2020-21/GN/REG059, dated the 20th April, 2020 in the Gazette of India, Extraordinary, Part III, Section 4, No. 156 on 24th April, 2020. - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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