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 notification introduces the Second Amendment to the 2019 regulations governing insolvency resolution for personal guarantors to corporate debtors, effective from its publication in the Official Gazette. It inserts a new Regulation 23 mandating resolution professionals to file prescribed electronic Forms, with enclosures, within stipulated timelines as notified by the Insolvency and Bankruptcy Board of India. The Board may update these Forms and hosts them on an electronic platform. Resolution professionals must ensure accuracy and completeness, and any delayed filing, including corrections or updates, attracts a fee of Rs. 500 per Form per month. Non-filing, inaccuracies, or delay may invite regulatory action, including refusal to issue or renew Authorization for Assignment.
The notification introduces the Second Amendment to the 2019 regulations governing insolvency resolution for personal guarantors to corporate debtors, effective from its publication in the Official Gazette. It inserts a new Regulation 23 mandating resolution professionals to file prescribed electronic Forms, with enclosures, within stipulated timelines as notified by the Insolvency and Bankruptcy Board of India. The Board may update these Forms and hosts them on an electronic platform. Resolution professionals must ensure accuracy and completeness, and any delayed filing, including corrections or updates, attracts a fee of Rs. 500 per Form per month. Non-filing, inaccuracies, or delay may invite regulatory action, including refusal to issue or renew Authorization for Assignment.
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