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CIRP Amendments: Positive Stride Towards Enhancing Framework
The Insolvency and Bankruptcy Board of India has brought in certain amendments to streamline and optimise the insolvency resolution process.
March 6, 2024
The Insolvency and Bankruptcy Board of India has brought in certain amendments to streamline and optimise the insolvency resolution process.
Though IBBI’s paper addresses the issues faced in the insolvency processes of real estate projects, the draft regulations need fine-tuning.
Recently on August 28, 2022, a three-judge bench of the Supreme Court of India delivered a judgement in R.K. Industries (Unit-II) LLP vs. H.R. Commercials Private Limited and Others , interpreting the provisions of IBC concerning the powers of the liquidator vis-à-vis mode of sale of assets by the liquidator.