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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>India's Insolvency Amendment 2022: New Document Requirements & Valuation Rules for Creditors and Debtors.</h1> The Insolvency and Bankruptcy Board of India issued the Second Amendment Regulations, 2022, for the Insolvency Resolution Process for Corporate Persons. Effective from its publication date, the amendment mandates operational creditors to submit GST-related documents and e-way bills with their applications, unless exempt. Creditors must also provide their PAN and email ID. It requires corporate debtor personnel to furnish specific information to resolution professionals. The amendment introduces provisions for appointing a third valuer if asset valuations differ significantly and outlines procedures for handling avoidance transactions and distributing proceeds post-resolution plan approval. These changes aim to enhance the insolvency resolution process.
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