https://www.taxtmi.com/article/detailed?id=8847 Regulator-initiated insolvency for systemically important Financial Service Providers makes the appropriate regulator the sole applicant to commence CIRP and proposes the Administrator, who holds the powers of insolvency professionals, may be advised by an Advisory Committee, and may be replaced by the Adjudicating Authority on the regulator's application. An interim moratorium runs from filing to admission or rejection but excludes third-party assets, which the Administrator will control and manage under rules to be notified; licences remain in force during moratorium, resolution plan approval requires a regulator 'no objection' based on fit-and-proper criteria, and voluntary liquidation requires prior regulatory permission with an opportunity to be heard. en-us Thu, 05 Dec 2019 10:07:41 +0530 Thu, 05 Dec 2019 10:07:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8847 Regulator-initiated insolvency for systemically important Financial Service Providers makes the appropriate regulator the sole applicant to commence CIRP and proposes the Administrator, who holds the powers of insolvency professionals, may be advised by an Advisory Committee, and may be replaced by the Adjudicating Authority on the regulator's application. An interim moratorium runs from filing to admission or rejection but excludes third-party assets, which the Administrator will control and manage under rules to be notified; licences remain in force during moratorium, resolution plan approval requires a regulator 'no objection' based on fit-and-proper criteria, and voluntary liquidation requires prior regulatory permission with an opportunity to be heard. Articles Corporate Laws / IBC / SEBI Thu, 05 Dec 2019 10:07:41 +0530 https://www.taxtmi.com/article/detailed?id=8847