Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017 - IBBI/2017-18/GN/REG019 - Insolvency and Bankruptcy
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Resolution plan disclosure obligations require comprehensive applicant and connected-person disclosures and transactional flags on submission. A resolution plan must disclose detailed information about the resolution applicant and connected persons-identity; convictions within five years; pending criminal proceedings; director disqualification under the Companies Act; willful defaulter identification; securities market debarment; and transactions with the corporate debtor in the preceding two years. Connected persons include promoters, persons in management or control (including prospective promoters or controllers during implementation), and their holding, subsidiary, associate and related parties. The resolution professional must submit all compliant plans with details of preferential, undervalued, extortionate credit and fraudulent transactions and related adjudicating authority orders.
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.
Resolution plan disclosure obligations require comprehensive applicant and connected-person disclosures and transactional flags on submission.
A resolution plan must disclose detailed information about the resolution applicant and connected persons-identity; convictions within five years; pending criminal proceedings; director disqualification under the Companies Act; willful defaulter identification; securities market debarment; and transactions with the corporate debtor in the preceding two years. Connected persons include promoters, persons in management or control (including prospective promoters or controllers during implementation), and their holding, subsidiary, associate and related parties. The resolution professional must submit all compliant plans with details of preferential, undervalued, extortionate credit and fraudulent transactions and related adjudicating authority orders.
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