Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 - IBBI/2022-23/GN/REG093 - Insolvency and Bankruptcy
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Process email continuity requirement secures stakeholder communication and transitions between resolution professionals in insolvency proceedings. The amendments require a dedicated process e-mail to be opened and transferred between interim and successor resolution professionals; mandate sending communications to creditors along with the public announcement where contact information exists; extend and recalibrate various procedural timelines including submission of the information memorandum to the ninety-fifth day and filing of applications on preferential transactions by the one hundred and thirtieth day; expand information memorandum disclosures to include contingent liabilities, geographic coordinates of fixed assets and a company overview; permit asset-sale RFRPs if no resolution plans are received; require a marketing strategy for sizable corporates and mandate committee assessment of compromise or arrangement before liquidation.
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.
Process email continuity requirement secures stakeholder communication and transitions between resolution professionals in insolvency proceedings.
The amendments require a dedicated process e-mail to be opened and transferred between interim and successor resolution professionals; mandate sending communications to creditors along with the public announcement where contact information exists; extend and recalibrate various procedural timelines including submission of the information memorandum to the ninety-fifth day and filing of applications on preferential transactions by the one hundred and thirtieth day; expand information memorandum disclosures to include contingent liabilities, geographic coordinates of fixed assets and a company overview; permit asset-sale RFRPs if no resolution plans are received; require a marketing strategy for sizable corporates and mandate committee assessment of compromise or arrangement before liquidation.
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