Insolvency Professional Current Affairs, GK & News

Insolvency and Bankruptcy (Second Amendment) passed in Rajya Sabha

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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IBBI amends regulations of liquidation process

The Insolvency and Bankruptcy Board of India has amended the regulations for the liquidation process of companies. Now a liquidator will only be paid based on the amount they have done, in terms of the amount realized or distributed among the lenders. The Existing Practice As of now, if a company goes into liquidation under ..

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