The Insolvency and Bankruptcy Board of India (IBBI) in its press release dated 4th May 2020, has issued a notice inviting public views / suggestions on the institutional framework for regulation and development of valuation professional.
The Regulations on which the views of the stakeholders are invited are herein below
- IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016;
- IBBI (Insolvency Professional Agencies) Regulations, 2016;
- IBBI (Insolvency Professionals) Regulations, 2016;
- IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016;
- IBBI (Liquidation Process) Regulations, 2016;
- IBBI (Information Utilities) Regulations, 2017;
- IBBI (Fast Track Corporate Insolvency Resolution Process) Regulations, 2017;
- IBBI (Inspections and Investigations) Regulations, 2017;
- IBBI (Voluntary Liquidation Process) Regulations, 2017; or
- IBBI (Mechanism for Issuing Regulations) Regulations, 2018
Further, the comments received between 13th April 2020 and 31st December 2020 shall be processed together and following the due process, regulations will be modified to the extent considered necessary. It will be the endeavor of the IBBI to notify modified regulations by 31st March 2021 and bring them into force on 1st April 2021.
Click here to read the Notification.
