IBBI (Liquidation Process) (Second Amendment) Regulations, 2020 dated 20 April 2020
June 1, 2020 Insertion of Regulation 47A relating to exclusion of lockdown period for liquidation related activities
By virtue of Regulation 47A, the period of lockdown imposed by the Central Government due to the outbreak of COVID-19 shall not be counted for the purposes of computation of the timeline for liquidation and such lockdown period shall not..
Read More
IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2020 dated 20 April 2020
June 1, 2020 Insertion of Regulation 40C relating to exclusion of lockdown period for computation of timeline of CIRP
By virtue of Regulation 40C, the period of lockdown imposed by the Central Government due to the outbreak of COVID-19 shall not be counted for the purposes of computation of timeline of CIRP and such lockdown period shall not be..
Read More
AMENDMENTS IN THE INSOLVENCY AND BANKRUPTCY LAW
June 1, 2020 MCA-21 Portal - Compliance by Insolvency Resolution Professionals & Liquidators (MCA Circular dated 6th March, 2020)
Form INC-28 is to be filed after the appointment: The IRP/RP/Liquidator is required to file the order of the NCLT approving him/her as the IRP/RP/Liquidator in form INC-28 on the MCA-21 portal. The following points must be kept in mind while..
Read More
RERA and Force Majeure
June 1, 2020 INSOL India - Editorial Team
The Ministry of Housing and Urban Affairs (Housing Section), through the Central Advisory Council (“CAC”) vide notification dated 13 May 2020, confirmed Covid-19 as a ‘forcemajeure’event as defined under section 6 of RERA and gave some directions to State Regulators..
Read More
Suspension of IBC
June 1, 2020 INSOL India - Editorial Team
Insolvency filing under the IBC has been barred or suspended for a period of one year. In order to deal with the Covid-19 situation, the Reserve Bank of India is likely to soften its restructuring provision norms to deal with stressed..
Read More
Relaxation in timelines for compliance with regulatory requirements
June 1, 2020 INSOL India - Editorial Team
In view of the Covid-19 pandemic, and the lockdown imposed by the Government of India and the State Governments, the SEBI by its circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/82 dated 15th May 2020 in exercise of powers conferred on it under Section 11(1)..