Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2020 - IBBI/2020-21/GN/REG.063 - Insolvency and Bankruptcy
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Appointment of liquidator requires corporate person to appoint an insolvency professional by resolution and notify the Board promptly. Regulation 5 is substituted to require the corporate person to appoint an insolvency professional as liquidator, subject to regulation 6, and to effect any replacement by a resolution passed under the specified statutory clauses; the resolution must contain the terms and conditions of appointment including the remuneration payable, and the insolvency professional must intimate the Board of his appointment within three days.
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.
Appointment of liquidator requires corporate person to appoint an insolvency professional by resolution and notify the Board promptly.
Regulation 5 is substituted to require the corporate person to appoint an insolvency professional as liquidator, subject to regulation 6, and to effect any replacement by a resolution passed under the specified statutory clauses; the resolution must contain the terms and conditions of appointment including the remuneration payable, and the insolvency professional must intimate the Board of his appointment within three days.
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