Appointment of Authorised Representative for Classes of Creditors in ongoing CIRP

August 15, 2018 INSOL INDIA EDITORIAL TEAM

As per Section 21 (6A) (b) of the Code read with Regulation 16A (1) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“the Regulations”), the IRP shall offer a choice of three IP where the corporate debtor..

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Amendment to Security Contracts (Regulations) Rules, 1957 (the “Rules”)

August 15, 2018 INSOL INDIA EDITORIAL TEAM

With a view to facilitate implementation of insolvency resolution of listed companies, the Security Contracts (Regulations) (Amendment) Rules, 2018 has been amended. The amendment introduces sub-rule (5) in rule 19A of the Rules which provides that additional time to listed..

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Income tax claims to be treated in accordance with the provisions of the Code

August 15, 2018 Editorial Team INSOL India

In Leo Edibles & Fats Limited and the Tax Recovery Officer (Central), Income Tax Department, Hyderabad (“Respondent 1”) and others, the High Court of Judicature at Hyderabad allowed the registration of an asset purchased from the liquidated estate of a..

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Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 (the “Bill”) passed by Lok Sabha

August 15, 2018 Editorial Team INSOL India

The Bill was passed by the Lok Sabha on July 31, 2018, paving way to replace the June 6, 2018 Ordinance (“Ordinance”) subject to approval from the Rajya Sabha. The most distinguishing feature of the Bill when compared to the..

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Insol International's Annual Regional Conference recently held in New York

June 7, 2018

Insol International's annual regional conference was held in New York recently. The conference was attended by delegates from different parts of the world. It was a congregation of different professionals working in the insolvency area, such as insolvency practitioners, lawyers,..

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The National Company Law Appellate Tribunal (“NCLAT”) grants stay on corporate insolvency resolution process of Reliance Communications Limited

June 1, 2018

The Mumbai bench of the National Company Law Tribunal, on May 15, 2018, admitted three petitions filed against Reliance Communications Limited (“RCOM”), Reliance Infratel Limited (“RITL”) and Reliance Telecom Limited (“RTL”) by Ericsson under the Insolvency and Bankruptcy Code. RCOM, RITL..

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