https://www.taxtmi.com/news?id=19398 Amendments define resolution applicant, expand the Code's scope to include personal guarantors and certain firms and individuals, and empower the resolution professional to invite applicants under committee-approved criteria and Board-specified conditions. A new disqualification regime bars persons from submitting resolution plans for specified insolvency, default, regulatory, criminal, market-prohibition, prior-transaction misconduct, guarantee-execution, foreign-disability, or connected-person grounds, subject to limited cure rights for certain asset classifications. Committees must assess and approve resolution plans meeting feasibility and viability standards, liquidators cannot sell assets to ineligible persons, and a general penal provision addresses uncodified contraventions. en-us Sat, 20 Jan 2018 10:50:12 +0530 Sat, 20 Jan 2018 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=19398 Amendments define resolution applicant, expand the Code's scope to include personal guarantors and certain firms and individuals, and empower the resolution professional to invite applicants under committee-approved criteria and Board-specified conditions. A new disqualification regime bars persons from submitting resolution plans for specified insolvency, default, regulatory, criminal, market-prohibition, prior-transaction misconduct, guarantee-execution, foreign-disability, or connected-person grounds, subject to limited cure rights for certain asset classifications. Committees must assess and approve resolution plans meeting feasibility and viability standards, liquidators cannot sell assets to ineligible persons, and a general penal provision addresses uncodified contraventions. News - Sat, 20 Jan 2018 10:50:12 +0530 https://www.taxtmi.com/news?id=19398