TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Notifications
of of All Notifications
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Insolvency Board Amends 2023 Regulations: New Creditor Info Requirements, Debtor Audit Provisions, and Updated Claim Deadlines.</h1> The Insolvency and Bankruptcy Board of India has issued the Second Amendment to the Insolvency Resolution Process for Corporate Persons Regulations, 2023, effective from September 18, 2023. Key amendments include the introduction of Regulation 2D, which mandates creditors to provide detailed information on debt, default, and limitation when filing applications under sections 7 or 9. Regulation 3A outlines the obligations of corporate debtor personnel to assist resolution professionals in asset and record control. Changes to Regulation 12 allow creditors to submit claims beyond the initial deadline under specified conditions. Regulation 16A permits financial creditors to replace their authorized representatives and stipulates fees for representatives. New provisions in Regulation 30B allow for audits of corporate debtors, and updates to Regulations 36B and 40A adjust timelines for issuing resolution plans. Form G and Form H in Schedule-I have been updated to reflect these changes.
TaxTMI 
TaxTMI 
