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Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
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Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
The IBBI issued a fourth amendment to the Insolvency Resolution Process for Corporate Persons Regulations, 2025, introducing key modifications to corporate insolvency procedures. The amendment allows resolution committees to invite interim finance providers as non-voting observers, permits resolution professionals to seek expressions of interest for partial or complete asset sales, and mandates pro rata payment priority for non-consenting financial creditors in staged resolution plans. The amendments aim to enhance transparency, flexibility, and equitable treatment of creditors during corporate insolvency resolution processes, effective from the date of official gazette publication.
The IBBI issued a fourth amendment to the Insolvency Resolution Process for Corporate Persons Regulations, 2025, introducing key modifications to corporate insolvency procedures. The amendment allows resolution committees to invite interim finance providers as non-voting observers, permits resolution professionals to seek expressions of interest for partial or complete asset sales, and mandates pro rata payment priority for non-consenting financial creditors in staged resolution plans. The amendments aim to enhance transparency, flexibility, and equitable treatment of creditors during corporate insolvency resolution processes, effective from the date of official gazette publication.
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