Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025. - F. No. IBBI/2025-26/GN/REG128. - Insolvency and Bankruptcy
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Avoidance transactions disclosure required: resolution plans cannot assign undisclosed avoidance or fraudulent trading claims and must notify applicants. A new prohibition bars resolution plans from assigning avoidance transactions under Chapter III or fraudulent or wrongful trading under Chapter VI of Part II of the Code unless those matters were disclosed in the information memorandum and intimated to all prospective resolution applicants before the last date for submission of resolution plans; a proviso exempts plans already submitted to the Adjudicating Authority prior to commencement of these amendments.
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.
Avoidance transactions disclosure required: resolution plans cannot assign undisclosed avoidance or fraudulent trading claims and must notify applicants.
A new prohibition bars resolution plans from assigning avoidance transactions under Chapter III or fraudulent or wrongful trading under Chapter VI of Part II of the Code unless those matters were disclosed in the information memorandum and intimated to all prospective resolution applicants before the last date for submission of resolution plans; a proviso exempts plans already submitted to the Adjudicating Authority prior to commencement of these amendments.
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