corporate insolvency resolution Current Affairs - 2020

Insolvency and Bankruptcy (Second Amendment) passed in Rajya Sabha

The Rajya Sabha has passed the Insolvency and Bankruptcy code (second Amendment) Bill 2020. Under the new provisions,  fresh insolvency proceedings will not be started for the next six months taking the Covid-19 pandemic into account. Why Insolvency proceedings has been suspended? The companies are under crisis amid the COVID-19 pandemic restrictions. These restrictions have Read More…

IBBI amends Insolvency and Bankruptcy Board of India Regulations, 2017

The Insolvency and Bankruptcy board of India recently amended the Insolvency and Bankruptcy Board of India Regulations. This is the second amendment. The amendment has made major changes to the voluntary liquidation process. About the Amendment The amendment allows the corporate persons to replace the liquidator with another liquidator or insolvency professional to initiate voluntary Read More…

Advisory Panel on Insolvency and Bankruptcy Board of India (IBBI) reconstituted

The Government of India recently reconstituted the advisory panel on corporate insolvency resolution and liquidation process. Highlights The IBBI recently reconstituted advisory panel by inducting four members. The committee was constituted in 2017 and is chaired by a noted banker Uday Kotak. The new members include Crisil MD Ashu Suyash, former chief economist at NSE Read More…

IBBI Signs Cooperation Agreement with IFC

The Insolvency and Bankruptcy Board of India (IBBI) has signed a cooperation agreement with the International Finance Corporation (IFC) to assist IBBI in further building the capacity of insolvency professionals and insolvency professional agencies for the purpose of the bankruptcy code. Strengthening IBBI IBBI established under the Insolvency and Bankruptcy Code, 2016 provides a platform Read More…