https://www.taxtmi.com/news?id=20164 The draft introduces a Model Law-based cross-border insolvency chapter for corporate debtors, defining COMI presumptions, recognition procedures for foreign proceedings and representatives, documentary requirements and a time-bound recognition decision. Recognised foreign main proceedings may attract moratoria and specified reliefs to protect assets and creditor interests, while foreign representatives and creditors have prescribed access and participation rights subject to safeguards, exclusions for certain foreign tax and social security claims, public policy exceptions, cooperation mechanisms between authorities, and Central Government notification powers. en-us Wed, 20 Jun 2018 17:01:32 +0530 Wed, 11 Feb 2026 15:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=20164 The draft introduces a Model Law-based cross-border insolvency chapter for corporate debtors, defining COMI presumptions, recognition procedures for foreign proceedings and representatives, documentary requirements and a time-bound recognition decision. Recognised foreign main proceedings may attract moratoria and specified reliefs to protect assets and creditor interests, while foreign representatives and creditors have prescribed access and participation rights subject to safeguards, exclusions for certain foreign tax and social security claims, public policy exceptions, cooperation mechanisms between authorities, and Central Government notification powers. News - Wed, 20 Jun 2018 17:01:32 +0530 https://www.taxtmi.com/news?id=20164