Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
The IBBI promulgated the Fifth Amendment Regulations, 2025, amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016. Key modifications include mandating disclosure of all identified avoidance transactions and fraudulent or wrongful trading details in the information memorandum and subsequent filings before the Adjudicating Authority. Resolution plans must not assign avoidance transactions or fraudulent trading liabilities unless disclosed to prospective resolution applicants prior to the submission deadline. These amendments apply prospectively, excluding resolution plans submitted before the commencement date of the Fifth Amendment. This regulatory update enhances transparency and accountability in insolvency resolution processes under the IBC framework.
The IBBI promulgated the Fifth Amendment Regulations, 2025, amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016. Key modifications include mandating disclosure of all identified avoidance transactions and fraudulent or wrongful trading details in the information memorandum and subsequent filings before the Adjudicating Authority. Resolution plans must not assign avoidance transactions or fraudulent trading liabilities unless disclosed to prospective resolution applicants prior to the submission deadline. These amendments apply prospectively, excluding resolution plans submitted before the commencement date of the Fifth Amendment. This regulatory update enhances transparency and accountability in insolvency resolution processes under the IBC framework.
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