Extended time to respond to show-cause notices - 60 days from due date instead of 35 days from issuance.

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Full Text of the Document

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....This notification amends the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017. The key amendment is in regulation 13(2), where the time period for reply to a show-cause notice has been extended from "thirty-five days of the date of issuance" to "sixty days from the due date for receipt of reply". This change provides additional time for responding to show-cause notices issued during inspections and investigations under the Insolvency and Bankruptcy Code, 2016.....