Insolvency and Bankruptcy Board of India (Pre-packaged Insolvency Resolution Process) Regulations, 2021
The Insolvency and Bankruptcy Board of India (Prepackaged Insolvency Resolution Process) Regulations, 2021 introduces new compliances for insolvency professionals and corporate debtors.
Maharashtra government extends Mahatma Jyotra Phule Jan Arogya Yojana
Government of Maharashtra, to ensure that Covid-19 patients are not to be burdened financially for treatment in an accredited private hospital, has extended the scope of the scheme Mahatma Jyotra Phule Jan Arogya Yojana for a limited period of time for the benefit of all citizens.
Government of Maharashtra imposes Section 144 in the State
The Government of Maharashtra, being satisfied that the State of Maharashtra is threatened with the spread of COVID-19 virus, has issued certain emergency measures to prevent and contain the spread of virus which shall be in force throughout the State till 30th April, 2021.
Draft amendment to Master Plan for Delhi – 2021
Owners of standalone godowns needs to get their plans approved by 31.12.2023. The owners of plots falling in nonconforming areas and existing godowns located on less than 30.0 m ROW will have to shift to the other conforming areas / godown clusters by 31.12.2023. Such godowns functioning in non-conforming areas shall have to close down within the above said time period.
IRDAI publishes Insurance Advertisements and Disclosure Regulations, 2021
This Regulations is applicable to all insurers, intermediaries and insurance intermediaries registered with the Authority except those engaged exclusively in reinsurance business.
The Insurance Regulatory and Development Authority of India (Regulatory Sandbox) (Amendment) Regulations, 2021.
The objective of this regulation is to strike a balance between orderly development of insurance sector on one hand and protection of interests of policyholders on the other, while at the same time facilitating innovation and to create regulatory sandbox environment and to relax such provisions of any existing Regulations framed by the Authority for a limited scope and limited duration, if such a relaxation is needed.
MCA notifies Insolvency and Bankruptcy (pre-packaged insolvency resolution process) Rules, 2021.
A corporate applicant, shall make an application for initiating pre-packaged insolvency resolution in Form 1, accompanied with affidavit, documents or records in electronic form, along with a fee of rupees fifteen thousand, Provided that in case, electronic facility is not available for filing such application, the application and the accompanying documents may be filed in physical form.
Central Government sets Rs 10 lakh as minimum threshold default for initiating resolution process by MSME corporate debtor.
Pre-packs are an arrangement where the resolution of a company’s business is negotiated with a buyer before the appointment of an insolvency professional.
