IBBI CIRP Regulation by relaxation timeline due to COVID-19
IBBI amends CIRP Regulation by relaxation timeline due to COVID-19 outbreak The press note on the lockout notification reads as follows: In order to solve this dilemma, the IBBI amended the CIRP Regulations to ensure that the lockout period enforced by the Central Government following the outbreak of COVID-19 is not to be counted for the purposes of the time-line for any operation that could not be completed as a consequence of the lock-down. IBBI amends the CIRP Regulations to include relaxation due to the COVID-19 outbreak in the corporate insolvency resolution process However, it would be subject to the overall time limit set out in the Code. Why does the word ‘subject to the Code’s complete time limit? Will that mean …