Recent changes to CIRP Regulations streamline the process by allowing the handover of the unit’s possession to homebuyers while the resolution process is still ongoing.
The proposed amendments to the CIRP Regulations address key aspects including cost reduction for smaller companies, guarantor liability, etc.
The Insolvency and Bankruptcy Board of India has brought in certain amendments to streamline and optimise the insolvency resolution process.
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.
Though IBBI’s paper addresses the issues faced in the insolvency processes of real estate projects, the draft regulations need fine-tuning.
In this article, we elaborate on the 16 proposals presented by the IBBI in its discussion paper, to strengthen the liquidation process.
Recently, the Supreme Court held that the variable annual licence fee paid by telcos has to be treated as capital expenditure.
