https://www.taxtmi.com/news?id=20660 The Committee recommends adopting the UNCITRAL Model Law into the Code via a draft Part Z for corporate debtors, with reciprocity initially, prescribed exclusions, definitions (including rebuttable presumption of registered office as COMI with a three-month look-back), English translations of documents, timelines for recognition, and safeguards to prevent forum shopping. Relief on recognition would align with section 14 moratorium and discretionary Article 21-type remedies subject to protection of domestic creditors; interim relief is not adopted; avoidance action standing is provided with insolvency commencement dated under foreign law. Central Government and IBBI to notify subordinate rules and cooperation guidelines. en-us Mon, 22 Oct 2018 17:27:32 +0530 Wed, 11 Feb 2026 15:57:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=20660 The Committee recommends adopting the UNCITRAL Model Law into the Code via a draft Part Z for corporate debtors, with reciprocity initially, prescribed exclusions, definitions (including rebuttable presumption of registered office as COMI with a three-month look-back), English translations of documents, timelines for recognition, and safeguards to prevent forum shopping. Relief on recognition would align with section 14 moratorium and discretionary Article 21-type remedies subject to protection of domestic creditors; interim relief is not adopted; avoidance action standing is provided with insolvency commencement dated under foreign law. Central Government and IBBI to notify subordinate rules and cooperation guidelines. News - Mon, 22 Oct 2018 17:27:32 +0530 https://www.taxtmi.com/news?id=20660