Newly registered insolvency professionals (“IPs”) granted an option to attend proceedings of the National Company Law Tribunal (“NCLT”)

February 20, 2019 INSOL INDIA EDITORIAL

In order to ensure that IPs are familiar with the processes and procedures followed for filings and submissions made before the NCLTs, the Insolvency and Bankruptcy Board of India (“IBBI”) and the NCLTs have agreed to allow newly registered IPs..

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The Insolvency and Bankruptcy Board of India (“IBBI”) organises a two-day workshop on “Committee of Creditors: An Institution of Public Faith”

February 20, 2019 INSOL INDIA EDITORIAL

The IBBI, in association with State Bank of Indian and the Indian Institute of Corporate Affairs, will conduct a workshop on “committee of creditors: an institution of public faith” for scheduled commercial banks on February 15, 2019 and February 16,..

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The National Company Law Appellate Tribunal (“NCLAT”) rejects Tata Steel Limited’s (“TSL”) plea to bid for Bhushan Power and Steel Limited (“BPSL”)

February 20, 2019 INSOL INDIA EDITORIAL

In relation to the ongoing corporate insolvency resolution process (“CIRP”) against BPSL, TSL had filed an appeal before the NCLAT, seeking disqualification of the resolution plan submitted by Liberty House in relation to the CIRP of BPSL, on the grounds..

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Derecognition of certain insolvency professional entities (“IPEs”) by the Insolvency and Bankruptcy Board of India (“IBBI”)

February 20, 2019 INSOL INDIA EDITORIAL

The IBBI has, in accordance with regulation 14 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (“Insolvency Professional Regulations”), derecognised certain IPEs, effective from October 01, 2018, as these IPEs failed to comply with the provisions..

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The Insolvency and Bankruptcy Board of India (“IBBI”) Constitutes the Working Group on Group Insolvency

February 20, 2019 INSOL INDIA EDITORIAL

The IBBI constituted the working group on group insolvency on January 17, 2019, to submit a report recommending a complete regulatory framework to facilitate insolvency resolution and liquidation of corporate debtors in a group. The working group is required to..

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External commercial borrowing (“ECB”) facility for resolution applicants under corporate insolvency resolution process (“CIRP”) under the Insolvency and Bankruptcy Code, 2016

February 20, 2019 INSOL INDIA EDITORIAL

The Reserve Bank of India (“RBI”), has on February 07, 2019, amended the External Commercial Borrowing (ECB) Policy – New ECB Framework issued by the RBI on January 16, 2019 (“ECB Policy”), to permit resolution applicants to raise ECBs, under..

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