IBBI calls for Appointment of Executive Director (ED) on deputation basis
The last date of submission of application would be 60 days from the date of publication of vacancy notice in Employment News.
IBBI discussion paper on “Strengthening the process of issuance of record of default by Information Utility”
This paper seeks to attain the objective of enhancing the effectiveness and acceptability of the record of default issued by an IU; speed up the process of admission application to initiate corporate insolvency resolution process. Further, aforementioned proposals aim to ensure that authentication process being followed by IU are robust, standardized, and rigorous.
IBBI clarification regarding uploading of judicial orders related to insolvency proceedings by Insolvency Professionals
As IPs have the first-time access and information of all the important judicial orders affecting the processes handled by them under the Insolvency and Bankruptcy Code, 2016 (Code), it has been decided that the IPs shall upload below mentioned judicial orders pertaining to their respective assignments on their dashboard. This would also ensure that the important judicial orders which have significant impact on the ongoing processes under the Code are available for facilitation of stakeholders in a timely manner.
Standardization of the Private Placement Memorandum (PPM)Audit Report
The standardized reporting format shall be hosted on the websites of the AIF Associations which are part of SFA within 2 working days of issuance of this circular. The associations shall assist all AIFs in understanding the reporting requirements and in clarifying or resolving any issues which may arise in connection with reporting to ensure accurate and timely reporting. The PPM audit reports shall be submitted to SEBI by AIFs online on the SEBI Intermediary Portal (SI Portal).
IBBI initiates a comprehensive review of all the Rules
IBBI decided to initiate a comprehensive review of all the Rules prescribed under various legislations being administered by MCA. Accordingly, Comments/ Suggestions are invited on the Rules from all the stakeholders.
IBBI clarification regarding IP compliance report
The IPs who have not submitted any compliance in relation to circular dated 28th September,2023, are hereby given an opportunity to comply with the circular dated 28th September 2023 and inform the status of the same to the IBBI electronically on the website of IBBI on or before 31st May 2024.
IBBI organised training programme for Indian Corporate Law Service Trainee Officers from 08th April 2024 to 10th April 2024
The objective of the training program was to provide trainee officers with up-to-date insights, methodologies, and practical approaches necessary for effectively managing the intricacies of insolvency and bankruptcy proceedings.
Report on Framework for Use of Mediation under the Insolvency and Bankruptcy Code, 2016
The report recommend a mediation
framework for use in various processes under the Code.
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024
After the receipt of resolution plans in accordance with the Code and these regulations, the resolution professional shall provide the fair value, the liquidation value and valuation reports to every member of the committee in electronic form, on receiving an undertaking from the member to the effect that such member shall maintain confidentiality of the fair value, the liquidation value and valuation reports and shall not use the information contained in the valuation reports to cause an undue gain or undue loss to itself or any other person.
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024
The amended regulations are effective from 15th February, 2024.
