Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024

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....dia (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024. No. IBBI/2024-25/GN/REG116.- In exercise of the powers conferred by clause (t) of sub- section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following regulations to further amend the In....

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.... (1) in sub-regulation (1), for the proviso, the following proviso shall be substituted, namely: - "Provided that the choice of an insolvency professional to act as an authorised representative by a financial creditor in a class in Form CA shall not be considered, if the Form CA is received after the time stipulated in the public announcement." (2) in sub-regulation (2), ....

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....ating to Regulation 13(1), (i) in column titled 'Description of Activity', the words, figures and marks "Verification of claims received under regulation 12(2)" shall be omitted. (ii) in column titled 'Latest Timeline', the word, figure and mark "T+97" shall be omitted. RAVI MITAL, Chairperson [ADVT.-III/4/Exty./521/2024-25] Note: The Insolvency and Bankruptcy Board of I....