Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2017 - IBBI/2017-18/GN/REG23 - Insolvency and Bankruptcy
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Confidentiality of liquidation value required; disclosure only to committee members with undertaking and prohibition on misuse. Defines dissenting financial creditor as a financial creditor who voted against or abstained from voting on an approved resolution plan. After receipt of resolution plans, the resolution professional must provide liquidation value electronically to each committee member only upon an undertaking to maintain confidentiality and not to use the value to cause undue gain or loss, and must otherwise maintain confidentiality. The amendment omits two specified duty clauses and requires resolution applicants to submit plans within the time specified in the invitation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Confidentiality of liquidation value required; disclosure only to committee members with undertaking and prohibition on misuse.
Defines dissenting financial creditor as a financial creditor who voted against or abstained from voting on an approved resolution plan. After receipt of resolution plans, the resolution professional must provide liquidation value electronically to each committee member only upon an undertaking to maintain confidentiality and not to use the value to cause undue gain or loss, and must otherwise maintain confidentiality. The amendment omits two specified duty clauses and requires resolution applicants to submit plans within the time specified in the invitation.
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