TMI BlogInsolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2024X X X X Extracts X X X X X X X X Extracts X X X X ..... rther to amend the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 , namely: - 1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2024. (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 (Voluntary Liquidation Process) Regulations, 2017 (hereinafter referred to as 'the principal regulations'), in regulation 3, in sub-regulation (1) - (I) in clause (a), after the phrase as the case may be, verified by an affidavit stating that - (a) in sub-clause (i), the word and , after the words and m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted in sub-regulation (1), till submission of application for dissolution of the corporate person; and (c) in clause (b), (i) the word Annual shall be omitted. (ii) in sub-clause (iii), the word and shall be omitted. (iii) in sub-clause (v), the word and shall be omitted. (iv) in sub-clause (vi), the mark . , shall be substituted with the word and mark ; and . (v) after sub-clause (vi), the following sub-clause shall be inserted, namely:- (vii) the reasons for not completing the process within stipulated time period and the additional time required for completing the process. (II) in sub-regulation (3), the word Annual shall be omitted. (III) after sub-regulation (3), the following sub-regulation s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the expression sub-regulation (7) , the expression sub-regulation (7D) shall be substituted. RAVI MITAL, Chairperson [ADVT.-III/4/Exty./727/2023-24] Note: The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017 were published vide Notification No. IBBI/2016-17/GN/REG010 on 31st March, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 130 dated 31st March, 2017 and were last amended by the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2022 published vide notification No. IBBI/2022-23/GN/REG095 dated 16th September 2022 in the Gazette of India, Extraordinary, Part III, Section 4, No. 457 on 16th Septemb ..... X X X X Extracts X X X X X X X X Extracts X X X X
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