Liquidation Current Affairs, GK & News

Liquidation  Current Affairs, GK & News

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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MCA notifies Insolvency and Bankruptcy Rules, 2019

On 15 Nov, the Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules).  The rules will provide a framework for insolvency and liquidation proceedings of Financial Service Providers (FSPs) other than banks. These rules will be applicable ..

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11-member working group to go into concept of ‘Group Insolvency’ and suggest a suitable framework

The insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) has set up a 11-member working group under the Chairmanship of former SEBI chief UK Sinha to go into the concept of ‘Group Insolvency’ and suggest a suitable framework. This Working Group has been tasked to submit a report — within two months and will ..

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Insolvency and Bankruptcy board sets up two panels

Insolvency and Bankruptcy Board of India (IBBI), which expects to soon operationalise the Insolvency and Bankruptcy Code, 2016 has set up two high-level panels to gather inputs from experts, including on service providers and corporate liquidation. To expedite operationalisation of the code, IBBI has already released three sets of regulations pertaining to Insolvency Professionals, Insolvency Agencies ..

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