Insolvency and Bankruptcy Board of India Current Affairs, GK & News

IBBI: Changes in Voluntary Liquidation Timeframe

April 9, 2022

The Insolvency and Bankruptcy Board of India (IBBI) has notified amendments to the regulations of the voluntary liquidation process, wherein the timelines including the distribution of proceeds from realization have been reduced so that a faster exit for firms can be ensured. From 5th April 2022, these amended regulations have come into effect. Overview: There ..

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Insolvency and Bankruptcy (Second Amendment) passed in Rajya Sabha

September 19, 2020

On September 19, 2020, the Rajya Sabha passed the Insolvency and Bankruptcy code (second Amendment) Bill 2020. According to the new amendment, fresh insolvency proceedings will not be started for the next six months considering Covid-19 pandemic. Why the suspension? Due to the covid-19 crisis the companies are facing disruptions. This has affected their interest payment ..

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Advisory Panel on Insolvency and Bankruptcy Board of India (IBBI) reconstituted

June 15, 2020

The Government of India recently reconstituted the advisory panel on corporate insolvency resolution and liquidation process. Highlights The IBBI recently reconstituted advisory panel by inducting four members. The committee was constituted in 2017 and is chaired by a noted banker Uday Kotak. The new members include Crisil MD Ashu Suyash, former chief economist at NSE ..

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IBBI tightens norms governing resolution professionals (RPs)

July 26, 2019

Insolvency and Bankruptcy Board of India (IBBI) has tightened norms that governs resolution professionals (RPs), wherein they would be barred from having employment when they are in possession of authorisation to take up work under insolvency law. Also, restrictions will also be in place for relatives of RPs in accepting employment after completion of resolution ..

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CEA Krishnamurthy Subramanian appointed part-time member in IBBI

June 12, 2019

Krishnamurthy Subramanian, Chief Economic Adviser (CEA) and B. Sriram, former managing director (MD) and chief executive officer (CEO) of Industrial Development Bank of India (IDBI Bank) were appointed part-time members of Insolvency and Bankruptcy Board of India (IBBI). K Subramanian, an Indian School of Business (ISB) Hyderabad professor was appointed chief economic adviser for a ..

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IBBI and SEBI sign pact for Effective Implementation of IBC

March 21, 2019

Insolvency and Bankruptcy Board of India (IBBI) and Securities and Exchange Board of India (SEBI) have signed a Memorandum of Understanding (MoU) to assist and co-operate with each other for the effective implementation of the Insolvency and Bankruptcy Code. Components of the MoU Sharing of information between the two parties. Sharing of resources available with ..

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