Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2018 - No. IBBI/2017-18/GN/REG030

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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.

<h1>Disclosure of insolvency resolution costs required; resolution applicants must be identified within the prescribed timeframe.</h1> Amendments mandate that references to company secretaries be replaced with secretarial auditors, define 'expenses' to include fees to interim/resolution professionals, insolvency professional entities, retained professionals and other incidental costs, require item-wise disclosure of insolvency resolution process costs by the interim/resolution professional, and obligate the resolution professional to identify prospective resolution applicants within the prescribed timeframe from the insolvency commencement date. Multiple Forms (A-F) and related affidavits are revised to standardise claimant declarations, evidence attachments, and contact details.

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