Notification under Section 10A of IBC
December 22, 2020 EDITORIAL TEAM INSOL India
The notification extends the application of Section 10A for three more months thereby which effectively disabling the filing of applications for initiation of corporate insolvency resolution of corporate debtors till 25th March 2021. This would extend the suspension period to..
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Situation Demands That Loan Moratorium Be Extended Till 31 March 2021": Plea In Supreme Court Seeks Extension
December 28, 2020 EDITORIAL BOARD INSOL India
An amendment application praying for directions to extend the moratorium period till March 31, 2021 has been filed in the Supreme Court. The Supreme Court is hearing the issue of extension of loan moratorium and waiver of accruing interest. One..
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AMENDMENTS IN THE INSOLVENCY AND BANKRUPTCY LAW - Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2020
December 28, 2020 EDITORIAL TEAM INSOL India
The following amendments have been made: Regulation 21A, which specifies the dissemination of public announcement, has been inserted, namely: “An information utility shall disseminate every public announcement it receives or has access to, on the date of its receipt or access, as..
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AMENDMENT IN THE INSOLVENCY AND BANKRUPTCY LAW
December 28, 2020 EDITORIAL TEAM INSOL India
The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2016 The following amendments have been made: 1. In Regulation 2A which specifies the requirement to record the evidences of default by financial creditor :- “(a) Certified copy..
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AMENDMENTS IN THE INSOLVENCY AND BANKRUPTCY LAW
December 28, 2020 EDITORIAL TEAM INSOL India
Insolvency and Bankruptcy Board of India (Liquidation Process) (Fourth Amendment) Regulations, 2020[1] 1. 30A is inserted[2].Regulation 30A, which specifies the transfer of debt due to the creditors, has been inserted, namely: “A creditor may assign or transfer the debt due to him or it..
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Ex- employee of Financial Creditor can be a Resolution Professional
October 31, 2020 INSOL India - Editorial Team
Supreme Court, in the case of Metenere Ltd. where SBI is the financial creditor and its ex-employee is receiving pension, observed at the outset that NCLAT’s approach was not correct that merely Resolution Professional who remained in the service of..