TaxTMI 
TaxTMI 
Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2019.
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....e following regulations further to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2019. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (hereinafter referred to as the principal regulations), in regulation 26, sub-regulation (1A) shall be omitted. 3. In the principal regulations, after regulation 25, th....
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....against each Form, in the table below:- Table Form No. Period covered and scope To be filed by Timeline (1) (2) (3) (4) IP 1 Pre-Assignment: This includes consent to accept assignment as IRP / RP, the details of IP and the Applicant, the details of the person which will undergo the process, terms of consent, terms of engagement, etc. IP Within three days of signing of Form-2 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 or Form-AA of the Regulations, as the case may be. CIRP 1 From Commencement of CIRP till Issue of Public Announcement: This includes details of IRP, CD, and the Applicant; admission of application by AA; public announcement; details of sugges....
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....fication thereof; non-compliances with the provisions of the Code and other laws applicable to the CD; etc. RP Within seven days of the issue of RFRP under regulation 36B. CIRP 5 From Issue of RFRP till completion of CIRP: This includes updated list of claimants; updated CoC; details of the resolution applicants; details of resolution plans received; details of approval or rejection of resolution plans by CoC; application filed with AA for approval of resolution plan; details of resolution plan approved by the AA; initiation of liquidation, if applicable; expenses incurred on or by RP; appointment of professionals and the terms of appointment; relationship of the RP with the CD, Financial Creditors, and Professionals; support se....
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....r 1st January, 2020. Example: A Form is required to be filed by 30th January, 2020. It shall be filed along with a fee as under: If filed on Fee (in Rupees) 29th January, 2020 0 30th January, 2020 0 31st January, 2020 500 Any day in February, 2020 1000 Any day in March, 2020 1500 (5) The insolvency professional or interim resolution professional or resolution professional, as the case may be, shall be liable to any action which the Board may take as deemed fit under the Code or any regulation made thereunder, including refusal to issue or renew Authorisation for Assignment, for- (i) failure to file a form along with requisite information and records; (ii) inaccurate or incomplete i....
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.... than (a) above: (i) who did not vote in favour of the resolution Plan (ii) who voted in favour of the resolution plan Total[(a) + (b)] 3 Operational Creditors (a) Related Party of Corporate Debtor (b) Other than (a) above: (i)Government (ii)Workmen (iii)Employees (iv) ......... Total[(a) + (b)] 4 Other debts and dues Grand Total *If there are sub-categories in a ....
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...., Section 4, No. 318 on 16th August, 2017; 2) The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2017 published vide notification No. IBBI/2017-18/GN/REG018, dated the 5th October, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 386 on 5th October, 2017; 3) The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017 published vide notification No. IBBI/2017-18/GN/REG019 dated the 7th November, 2017 in the Gazette of India, Extraordinary, Part III, Section 4, No. 432 on 7th November, 2017; 4) The Insolvency and Bankruptcy Board of India (Insolvency Resolution....