Archives
Archives
| S.No | Date of Issue | Circulars | Content & Link |
| 1 | 11th November, 2019 | Compliance with the provisions of Section 12 of the Insolvency and Bankruptcy Code, 2016 | “The Insolvency and Bankruptcy Code, 2016 (Code), in its long title, states that it is an Act for reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner. It mandates completion of corporate insolvency resolution process (CIRP) in a time-bound manner, as undue delay is likely to reduce the enterprise value of the corporate debtor (CD). When the CD is not in the pink of its health, prolonged uncertainty about its ownership and control may make the possibility of resolution remote. The Code prescribes timelines for various activities of the CIRP.”-( Read More) |
| 2 | 30th September, 2019 | Filing of forms for the purpose of monitoring corporate insolvency resolution processes and performance of insolvency professionals under the Insolvency and Bankruptcy Code, 2016 and the regulations made thereunder | “This has reference to the Circular No. IBBI/CIRP/023/2019 dated 14th August, 2019 on the above subject. 2. It is observed that a large number of insolvency professionals have filed Forms, which were due on or before 15th September, 2019, in respect of corporate insolvency resolution processes (CIRPs) conducted by them, by close of business today, that is, 30th September, 2019, as required under the aforesaid Circular. The three Insolvency Professional Agencies (IPAs) have informed that they are working with the remaining insolvency professionals to ensure filings and for this purpose, sought time for another 15 days.”.-( Read More) |
| 3 | 16th September, 2019 | Valuation required under the provisions of the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016. | “Rule 10 of the Companies (Registered Valuers and Valuation) Rules, 2017 (Rules) read with section 247 of the Companies Act, 2013 (Act) require that a registered valuer shall conduct valuations required under the Act. 2. Circular No. IBBI/RV/019/2018 dated 17th October, 2018 of IBBI mandates that the valuations required under the Code or any of the regulations made thereunder shall be conducted by a registered valuer.-( Read More) |
| 4 | 7th September, 2019 | Statutory Repositories under regulation 21(2)(c)(ii) of the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2017. | “Regulation 21 of the Insolvency and Bankruptcy Board of India (Information Utilities) Regulations, 2019 reads as under: – “21. Information of default. (1) An information utility shall expeditiously undertake the process of authentication and verification of information of default as soon as it is received. (2) For the purpose of sub-regulation (1), the information utility shall-( Read More) |
| 5 | 14 August,2019 | Filing of Forms for the purpose of monitoring CIRPs and performance of IPs under the IBC, 2016 and the regulations made thereunder | “The objective of the Insolvency and Bankruptcy Code, 2016 (Code) is time bound reorganisation and insolvency resolution of firms for maximisation of value of assets of the firm in distress to promote entrepreneurship and availability of credit and balance the interests of all its stakeholders..” Read More |
| 6 | 02 May 2019 | Temporary Surrender and Revival of Professional Membership of an Insolvency Professional | “Regulation 10 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 (IP Regulations) read with clause 26 of the Schedule to the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 (Model Bye-Laws Regulations) provide for “In Read More: attach the following link” Read More |
| 7 | 10th August, 2018 | Notice for Meeting of Committee of Creditors | “The Insolvency and Bankruptcy Code, 2016 (Code) confer certain privileges on financial creditors on the premise, as reasoned by Bankruptcy Law Reformed Committee: The Committee deliberated on who should be on creditors committee given the…” Read More |
| 8 | 13th July, 2018 | Appointment of Authorised Representative | “Section 21 (6A) (b) of the Insolvency and Bankruptcy Code, 2016 (Code) read with regulation 16A (1) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (Regulations) provide that where…….” Read More |
| 9 | 6th July, 2018 | Circular on Empanelment of IPE | “An Insolvency Professional Entity (IPE) is recognised in accordance with regulation 12 (1) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 only if “its sole objective is to provide support services to the insolvency …..” Read More |
| 10 | 12th June, 2018 | Circular on Fee and other Expenses incurred for CIRP | “When a corporate debtor undergoes corporate insolvency resolution process (CIRP), an Insolvency Professional (IP) is vested with the management of its affairs and he manages its operations as a going concern. He complies with the applicable laws…….” Read More |
| 11 | 23rd April, 2018 | Disciplinary Proceedings | “The Insolvency and Bankruptcy Code, 2016 (Code) envisages that an insolvency professional may be appointed as interim resolution professional, resolution professional, liquidator, or a bankruptcy trustee if no disciplinary proceeding is pending….. ” Read More |
| 12 | 23rd April, 2018 | Pre registration training circular | “In terms of the IBBI (Insolvency Professionals) Regulations, 2016, an individual is eligible for registration as an insolvency professional, subject to meeting other requirements, if he has completed a pre-registration educational course, as may be…… ” Read More |
| 13 | 19th April, 2018 | Annual Compliance Certificate for IPA | “The Insolvency and Bankruptcy Code, 2016 (Code), the IBBI (Insolvency Professional Agencies) Regulations, 2016, the IBBI (Model Bye Laws and Governing Board of Insolvency Professional Agencies) Regulationss, 2016 and Guidelines, Circulars, and……” Read More |
| 14 | 5th April, 2018 | CIRCULAR FOR IPE | “The Insolvency and Bankruptcy Board of India (IBBI) has recently notified the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2018 in the Gazette of India dated 28th March, 2018. They are available at…….” Read More |
| 15 | 23rd Feb, 2018 | Designated website for publishing Forms under the Regulations | “The Insolvency and Bankruptcy Board of India (Board) has specified Forms for publishing Public Announcements and Brief Particulars of Invitations of Resolution Plans on the website, if any, designated by the Board for the purpose under the Insolvency……..” Read More |
| 16 | 23rd Feb, 2018 | Confidentiality of Information relating to processes under IBC | “Attention is drawn to provisions of clause 21 of the Code of Conduct appended to the First Schedule to the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016. The said clause reads as under: “21. An insolvency professional……..” Read More |
| 17 | 16th Jan, 2018 | Fees payable to an IP and to other professionals appointed by IP | “Section 206 of the Insolvency and Bankruptcy Code, 2016 (Code) provides that only a person registered as an insolvency professional with the Insolvency and Bankruptcy Board of India (IBBI) can render services as an insolvency professional under ……..” Read More |
| 18 | 16th Jan, 2018 | Disclosures by IP and other professionals appointed by IPs | “The Insolvency and Bankruptcy Code, 2016 read with regulations made thereunder provide for appointment of an insolvency professional [(Interim Resolution Professional (IRP) / Resolution Professional (RP)] to conduct the resolution process…….” Read More |
| 19 | 3rd Jan, 2018 | IP to use Reg. No. and Registered Address in all communications | “It has been observed that a few insolvency professionals are using different addresses and emails while communicating with the stakeholders, despite repeated advice from the Insolvency Bankruptcy Board of India (IBBI) to use the addressees and……..” Read More |
| 20 | 3rd Jan, 2018 | IP to ensure compliance with provisions of applicable laws | “A corporate person undergoing insolvency resolution process, fast track insolvency resolution process, liquidation process or voluntary liquidation process under the Insolvency and Bankruptcy Code, 2016 (Code) needs to comply with provisions of the ……. ” Read More |
| 21 | 3rd Jan, 2018 | IP not to outsource his responsibility | “The Insolvency and Bankruptcy Code, 2016 (Code) read with regulations made thereunder cast specific duties and responsibilities on an insolvency professional. An insolvency professional is required to perform certain tasks under the Code while acting …..” Read More |