CORPORATE
CIRP Regulations: IBBI Proposes Key Changes
The proposed amendments to the CIRP Regulations address key aspects including cost reduction for smaller companies, guarantor liability, etc.
June 26, 2024
The proposed amendments to the CIRP Regulations address key aspects including cost reduction for smaller companies, guarantor liability, etc.
We explore IBBI’s clarifications on the computation of liquidator’s fee and the recent judgment which struck down two of the clarifications.
CCI’s new guidelines provide for the determination of penalties for contravention of provisions of the Competition Act, 2002.
The changes introduced by the IBBI are significant in so far as they create a check and balance on critical areas of the liquidation process.
IBBI’s new measures seek to pave the way for the efficient conduct of processes by IPs and facilitate IPEs to undertake activities of an IP.
CCI has released draft regulations providing the manner in which the turnover or income of enterprises/ individuals has to be determined.
In this article, we elaborate on the 16 proposals presented by the IBBI in its discussion paper, to strengthen the liquidation process.
Read an analysis of the compensation scheme for an Insolvency Professional for rendering support to the corporate debtor throughout CIRP.
Read an analysis of the issue surrounding the distribution of proceeds in liquidation from the sale of assets under Section 53 of the IBC.