Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Insolvency Board mandates public consultation for new regulations; requires draft publication and response to comments.</h1> Regulation 4 of the Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018 outlines the process for public consultation in the creation of regulations. The Board must publish draft regulations, relevant Code provisions, a problem statement, economic analysis, international norms, and implementation details on its website, inviting public comments for at least 21 days. The Board must consider and respond to these comments before finalizing the regulations. If substantial changes are made, the process must be repeated. Regulations are notified after approval, typically enforced 30 days post-notification, with possible stakeholder consultations.
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