{"id":211548,"date":"2019-03-07T12:25:51","date_gmt":"2019-03-07T06:55:51","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=211548"},"modified":"2019-03-07T12:25:51","modified_gmt":"2019-03-07T06:55:51","slug":"insolvency-and-bankruptcy-board-of-india-signs-a-cooperation-agreement-with-international-finance-corporation","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/03\/07\/insolvency-and-bankruptcy-board-of-india-signs-a-cooperation-agreement-with-international-finance-corporation\/","title":{"rendered":"Insolvency and Bankruptcy Board of India signs a Cooperation Agreement with International Finance Corporation"},"content":{"rendered":"<p style=\"text-align: justify;\">The <strong>Insolvency and Bankruptcy Board of India (IBBI) signed a Cooperation Agreement yesterday with the International Finance Corporation (IFC)<\/strong>, a Member of the World Bank Group (WBG). The Agreement was signed by Mr. K. R. Saji Kumar, Executive Director, IBBI and Mr. Jun Zhang, Country Manager, IFC India, in the august presence of Mr. Injeti Srinivas, Secretary, Ministry of Corporate Affairs, Dr. M. S. Sahoo, Chairperson, IBBI, Mr. Gyaneshwar Kumar Singh, Joint Secretary, Ministry of Corporate Affairs, and other distinguished officers of the Ministry of Corporate Affairs and IBBI.<\/p>\n<p style=\"text-align: justify;\">The Insolvency and Bankruptcy Code, 2016 (Code) provides for re-organisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization 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 established an institutional infrastructure comprising of Adjudicating Authorities, the IBBI, insolvency professionals, insolvency professional agencies and information utilities. The IBBI exercises regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies and Information Utilities. It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.<\/p>\n<p style=\"text-align: justify;\">The IBBI is interested in the effective implementation of the Code and its Allied Rules and Regulations. The IFC is interested to assist the IBBI to further build\u00a0the capacity of the Insolvency Professionals, and Insolvency Professional Agencies for the purposes of the Code.\u00a0The Cooperation Agreement envisages technical assistance up to 30<sup>th<\/sup>\u00a0June, 2021 by the IFC to IBBI in this regard.\u00a0 It inter alia covers assistance in (a)\u00a0Workshops and Training for Insolvency Professionals and Officers of the IBBI; (b) Train the Trainers for Workshops for Insolvency Professionals, (c) Development of National Insolvency Programme, (d) Insolvency and Valuation Examinations.<\/p>\n<p>[Source: PIB]<\/p>\n<p style=\"text-align: right;\"><strong>Ministry of Corporate Affairs<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Insolvency and Bankruptcy Board of India (IBBI) signed a Cooperation Agreement yesterday with the International Finance Corporation (IFC), a Member of <\/p>\n","protected":false},"author":8808,"featured_media":209748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,8],"tags":[34194,16901,34195],"class_list":["post-211548","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-treaties_conventions_internationalagreements","tag-cooperation-agreement","tag-insolvency-and-bankruptcy-board-of-india","tag-international-finance-corporation-ifc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insolvency and Bankruptcy Board of India signs a Cooperation Agreement with International Finance Corporation | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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Some of the amendments made by these Regulations are consequential to the Insolvency and Bankruptcy Code (Amendment) Act, 2019, which came\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/MCA.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":237758,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/10\/20\/santosh-kumar-shukla-takes-charge-as-executive-director-insolvency-and-bankruptcy-board-of-india-ibbi\/","url_meta":{"origin":211548,"position":1},"title":"Santosh Kumar Shukla takes charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI)","author":"Bhumika Indulia","date":"October 20, 2020","format":false,"excerpt":"Santosh Kumar Shukla took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI) in New Delhi. Immediately before joining IBBI, he was serving as Chief General Manager in the Enforcement Department of the Securities and Exchange Board of India (SEBI). Mr Shukla has been with the securities market\u2026","rel":"","context":"In &quot;Appointments &amp; Transfers&quot;","block_context":{"text":"Appointments &amp; Transfers","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/appointments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223421,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/19\/ibbi-sudhaker-shukla-appointed-as-whole-time-member-of-insolvency-and-bankruptcy-board-of-india\/","url_meta":{"origin":211548,"position":2},"title":"IBBI | Sudhaker Shukla appointed as Whole Time Member of Insolvency and Bankruptcy Board of India","author":"Bhumika Indulia","date":"December 19, 2019","format":false,"excerpt":"S.O. 4479(E).\u2014In exercise of the powers conferred by Section 189 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints Shri Sudhaker Shukla, as Whole Time Member of the Insolvency and Bankruptcy Board of India with effect from 14-11-2019, i.e. date of assumption of the\u2026","rel":"","context":"In &quot;Appointments &amp; Transfers&quot;","block_context":{"text":"Appointments &amp; Transfers","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/appointments\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":95411,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/30\/major-policy-initiatives-and-achievements-of-ministry-of-corporate-affairs-in-2016\/","url_meta":{"origin":211548,"position":3},"title":"Major policy initiatives and achievements of Ministry of Corporate Affairs\u00a0in 2016","author":"Saba","date":"December 30, 2016","format":false,"excerpt":"Following are the major Policy Initiatives and Achievements of the Ministry of Corporate Affairs, Government of India during the Year 2016: 1. To review the Companies Act, 2013 based on implementation experience in line with changing economic environment and initiatives for addressing all concerns with reference to Companies Act, 2013\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223916,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/07\/ibbi-notifies-insolvency-and-bankruptcy-board-of-india-liquidation-process-amendment-regulations-2020\/","url_meta":{"origin":211548,"position":4},"title":"IBBI notifies &#8212; Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020","author":"Bhumika Indulia","date":"January 7, 2020","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020 on 6-01-2020. The amendment clarifies that a person, who is not eligible under the Code to submit a resolution plan for insolvency resolution of the corporate debtor, shall not\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/12\/IBBI.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":107191,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/02\/16\/ibbi-invites-comments-on-draft-regulations-for-voluntary-liquidation-of-corporate-persons\/","url_meta":{"origin":211548,"position":5},"title":"IBBI invites comments on Draft Regulations for Voluntary Liquidation of Corporate Persons","author":"Saba","date":"February 16, 2017","format":false,"excerpt":"The Ministry of Corporate Affairs had set-up four Working Groups to facilitate implementation of the Insolvency and Bankruptcy Code, 2016. The Working Group-3 had a mandate to deliberate and submit its recommendations on rules and regulations and other related matters for the insolvency and liquidation process under the Insolvency and\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/211548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=211548"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/211548\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/209748"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=211548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=211548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=211548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}