IIIPI Advisory for IIIPI Members on Fulfilling CPE Hours Requirement The Indian Institute of Insolvency Professionals of ICAI advises its members to comply with the Continuing Professional Education requirements prescribed by the Insolvency and Bankruptcy Board of India to maintain their professional competency and eligibility. IIIPI emphasizes the importance of proactive planning to meet CPE …
Challenges being faced by IPs or in the executions of IBC laws Insolvency Professional, Including all major stakeholders in IBC viz Regulators, GOI , Judiciary and IPs are in the know of all the challenges being faced by IPs or in the executions of IBC laws . It sounds like Insolvency Professional are expressing frustration …
IBBI issued a discussion paper for Reducing Compliance by Review of CIRP Forms The Insolvency and Bankruptcy Board of India (IBBI), following the guidance from the Financial Stability and Development Council (FSDC) in its 27th meeting on May 8, 2023, has initiated steps to streamline the compliance requirements for Insolvency Professionals (IPs) under the Corporate …
12A CIRP withdrawal application cannot be kept pending for constitution of CoC Indeed, the Insolvency and Bankruptcy Code (IBC) was introduced with the aim of creating a robust mechanism for the resolution of stressed assets in a timely manner. Its primary objectives were to promote entrepreneurship, facilitate efficient allocation of resources, and maximize the value …
Individuals & Firm-Insolvency Resolution Process under IBC What is Eligibility for RP in the IBC Process for Individuals & Firms? Regulation 3 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations, 2017, outlines the eligibility criteria for insolvency professionals to be appointed as resolution professionals in insolvency resolution …
Important Amendment Regulations introduced to Corporate Insolvency Resolution Process The Insolvency and Bankruptcy Board of India (IBBI) has issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018. The key aspects of these amendments (3rd Amendment) Regulations, 2018 are as follows: Application for Withdrawal: An application to …
Valuation requirements in case of Registered Valuer of Financial Assets in India A Valuation report in respect of shares, property or assets, tangible and intangible, movable and immovable, of the company must be prepared by a Registered Valuer in case or instance of a compromise or agreement between members (such as in mergers or amalgamations) …
How to be prepared Resolution Plan under Insolvency Law A Model Resolution Plan. The plan is not a legislative or regulatory document and was created based on research into other approved resolution plans. The plan is not based on any provision or regulation under the code and may only be used as a guide …
IBC provisions of the Code & Regulations on Resolution Plan Under the Blog have brief details about the provisions of the Insolvency and Bankruptcy Code, 2016 & IBC Regulations made thereunder, in relation to the provision of Resolution Plans, its preparation, basic points to be contents along with approval Provisions compliances under IBC Code Provision …
Kind of Return & Disclosures required to be file by Resolution Professional under IBC Independent is required for eligibility of Resolution Professional-Regulation 3(1) An IP shall be eligible to be appointed as a RP for a corporate insolvency resolution process of a CD if he, and all partners and directors of the IPE of which …