For the unversed, the Insolvency and Bankruptcy Code, 2016 (Code) provides for reorganisation and insolvency resolution of corporate persons, partnership firms, and individuals in a time bound manner for maximisation of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders, and for this purpose, has created an institutional infrastructure comprising of adjudicating authorities, the IBBI
, insolvency professionals, insolvency professional agencies and information utilities.
Devito adds, “And to receive it from the IBBI
which consists of the finest boat builders in the world really means something
08 ( ANI ): The Insolvency and Bankruptcy Board of India (IBBI
) on Thursday invited comments on draft IBBI
Mechanism for Issuing Regulations on its website by March 31 2018.
The new program provides qualified IBBI
boat brand dealers in the U.
While the resolution applicant continues to specify the sources of funds that will be used to pay insolvency resolution process costs, liquidation value due to operational creditors and liquidation value due to dissenting financial creditors, the IBBI
noted that the committee of creditors must specify the amounts payable from resources under the resolution plan for these purposes.
Mumbai (Maharashtra) [India], January 30 ( ANI ): State Bank of India (SBI) on Tuesday announced signing of a Information Utility (IU) agreement with National E-Governance Services Limited (NeSL), the first information utility registered with the Insolvency and Bankruptcy Board of India (IBBI
), to share financial and security information under IBBI
(IU) regulation 2017.
I am highly confident that our dedication to our customers and strong commitment to the marine industry make TCFIF the best choice for IBBI
and its members.
It has come to the notice of the Insolvency and Bankruptcy Board of India (IBBI
) that there is a Limited Liability Partnership (LLP) by the name IBBI
Insolvency Practitioners LLP.
, in its notification released earlier in the week, said these regulations provide for an objective and transparent procedure for disposal of grievances and complaints by the board that does not spare a mischievous service provider, and does not harass an innocent service provider.
The two acquired firms have majority stakes in the Sona, IBBI
, Benue, Life and Champion breweries in Nigeria.
The regulations by the IBBI
were also amended recently to ensure that information on the antecedent of the applicant submitting the resolution plan along with information on the preferential, undervalued or fraudulent transactions are placed before the Committee of Creditors in order for it to take an informed decision on the matter.
Now prior to approval of a Resolution Plan, the Resolution Applicants, including promoters, will be put to a stringent test with respect to their credit worthiness and credibility; Amendments to the IBBI
(Insolvency Resolution Process for Corporate Persons) Resolution Process, 2016 impose a greater responsibility on the Resolution Professionals and the Committee of Creditors in discharging their duties.