https://www.taxtmi.com/news?id=72473 Introduces a proposed regulatory framework for the Creditor-Initiated Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, intended to facilitate faster, lower-cost restructuring with limited business disruption. The draft regulations set out the procedural architecture for initiation, commencement, conduct and closure-related matters, while relying on class notifications by the Central Government for eligible corporate debtors, initiating financial institutions and applicable thresholds and conditions. The initiation framework requires the applicant financial creditor to identify eligible financial creditors from information utility records or other available sources, convene a meeting, and obtain approval of at least fifty-one per cent in value of the debt owed to such creditors. The corporate debtor must be served notice of the intended initiation and may submit a written representation within thirty days; if the applicant continues, a further approval threshold applies. en-us Tue, 21 Apr 2026 16:08:41 +0530 Tue, 21 Apr 2026 16:41:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=72473 Introduces a proposed regulatory framework for the Creditor-Initiated Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016, intended to facilitate faster, lower-cost restructuring with limited business disruption. The draft regulations set out the procedural architecture for initiation, commencement, conduct and closure-related matters, while relying on class notifications by the Central Government for eligible corporate debtors, initiating financial institutions and applicable thresholds and conditions. The initiation framework requires the applicant financial creditor to identify eligible financial creditors from information utility records or other available sources, convene a meeting, and obtain approval of at least fifty-one per cent in value of the debt owed to such creditors. The corporate debtor must be served notice of the intended initiation and may submit a written representation within thirty days; if the applicant continues, a further approval threshold applies. News - Tue, 21 Apr 2026 16:08:41 +0530 https://www.taxtmi.com/news?id=72473