Names Of Resolution Professionals Facing Disciplinary Proceedings Can't Be Made Public : IBBI Appellate Authority [Read Order]

The First Appellate Authority (FAA) of the Insolvency and Bankruptcy Board of India has held against disclosure of names of insolvency professionals (IPs) facing disciplinary proceedings saying the same would impede the investigation process due to unwarranted public attention and is likely to harm practice of most IPs who are established professionals like Chartered Accountants. The FAA also held that there are sufficient checks and balances in place to ensure that IPs facing disciplinary...

IBBI Invites Comments On Draft IBBI Regulations, 2018

The IBBI has invited comments from the public, including the stakeholders, on the draft Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations), Regulations, 2018.Section 240 of the Insolvency and Bankruptcy Code, 2016 empowers the Insolvency and Bankruptcy Board of India (IBBI) to make regulations subject to the conditions that the regulations: carry out the provisions of the Code, are consistent with the Code and the rules made thereunder; are made by a notification...

Public Opinion Invited On Draft IBBI Regulations, 2018

The Insolvency and Bankruptcy Board of India (IBBI) has invited comments from the public, including the stakeholders and the regulated, on the draft Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations), Regulations, 2018 which is available at www.ibbi.gov.in. A cost-benefit analysis of the draft regulations is appended at the end of the draft regulations.Section 240 of the Insolvency and Bankruptcy Code, 2016 empowers the IBBI to make regulations subject to the...

IBBI Issues Circular On Fee Payable To Insolvency Professionals [Read Circular]

The Insolvency and Bankruptcy Board of India (IBBI) has issued a circular clarifying the norms for payment of fees to insolvency professionals as well as other professionals who are appointed by such insolvency professionals.The Code of Conduct for Insolvency Professionals under the IBBI (Insolvency Professionals) Regulations, 2016 require an insolvency professional to provide services for remuneration which is charged in a transparent manner, and is a reasonable reflection of the work...

IBBI Amends Regulations Governing Corporate Insolvency Resolution Process

On 07 November 2017, the Insolvency and Bankruptcy Board of India (IBBI) amended: (A) The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) and (B) The Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 (Fast Track CIRP Regulations), issued under the Insolvency and Bankruptcy Code, 2016 (Code). The stated objective of the amendments is to...