{"id":233505,"date":"2020-08-07T09:00:35","date_gmt":"2020-08-07T03:30:35","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=233505"},"modified":"2020-08-07T08:59:30","modified_gmt":"2020-08-07T03:29:30","slug":"ibbi-amends-the-insolvency-and-bankruptcy-board-of-india-liquidation-process-regulations-2016","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/07\/ibbi-amends-the-insolvency-and-bankruptcy-board-of-india-liquidation-process-regulations-2016\/","title":{"rendered":"IBBI amends the Insolvency and Bankruptcy  Board of India (Liquidation Process) Regulations, 2016"},"content":{"rendered":"<blockquote>\n<p style=\"text-align: justify;\"><span style=\"color: #800080;\">The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020.<\/span><\/p>\n<\/blockquote>\n<p style=\"text-align: justify;\">The Regulations require the committee of creditors to fix the fee payable to the liquidator.\u00a0 Where the fee has not been fixed by the committee of creditors, the Regulations provide for a\u00a0 fee as a percentage of the amount realised and of the amount distributed by the liquidator. There have been instances where a liquidator realises the amount while another liquidator distributes\u00a0 the same to stakeholders. The amendment made to the Regulations today clarifies that where a\u00a0 liquidator realises any amount, but does not distribute the same, he shall be entitled to a fee corresponding to the amount realised by him. Likewise, where a liquidator distributes any\u00a0 amount, which is not realised by him, he shall be entitled to a fee corresponding to the amount distributed by him.<\/p>\n<hr \/>\n<p style=\"text-align: justify;\"><span style=\"color: #ff0000;\">Read the regulations here:<\/span> <a href=\"https:\/\/www.ibbi.gov.in\/uploads\/legalframwork\/99821042db3990a40cd7082f06019911.pdf\">REGULATIONS<\/a><\/p>\n<p style=\"text-align: justify;\"><strong>Insolvency and Bankruptcy Board of India<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Notification dt. 05-08-2020]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020. <\/p>\n","protected":false},"author":8808,"featured_media":223422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[32458,2622,42970,16901,42971,34534],"class_list":["post-233505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-committee-of-creditors","tag-Fee","tag-ibbi-regulations","tag-insolvency-and-bankruptcy-board-of-india","tag-liquidation-process","tag-liquidator"],"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>IBBI amends the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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The Insolvency and Bankruptcy Board of India (IBBI) notified the: Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for\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\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Insolvency-and-Bankruptcy-Board-of-India.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":233578,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/07\/ibbi-amends-insolvency-and-bankruptcy-board-of-india-voluntary-liquidation-process-regulations-2017\/","url_meta":{"origin":233505,"position":2},"title":"IBBI amends Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017","author":"Bhumika Indulia","date":"August 7, 2020","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2020 on 05-08-2020. The Insolvency and Bankruptcy Code, 2016 enables a corporate person to initiate voluntary liquidation process if it has no debt or it will be able\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":239310,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/18\/insolvency-and-bankruptcy-board-of-india-amends-regulations-relating-to-corporate-insolvency-proceedings\/","url_meta":{"origin":233505,"position":3},"title":"Insolvency and Bankruptcy Board of India amends Regulations relating to corporate insolvency proceedings","author":"Bhumika Indulia","date":"November 18, 2020","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India (IBBI) notified the following Amendment Regulations, 2020: (a) the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2016 (b) the Insolvency and Bankruptcy Board of India (Liquidation Process) (Fourth Amendment) Regulations, 2020 (c) 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":"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":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":233505,"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":93371,"url":"https:\/\/www.scconline.com\/blog\/post\/2016\/12\/20\/the-insolvency-and-bankruptcy-board-of-india-liquidation-process-regulations-2016-notified\/","url_meta":{"origin":233505,"position":5},"title":"The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, notified","author":"Saba","date":"December 20, 2016","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India (Board), in exercise of its powers conferred under Section 240 of the Insolvency and Bankruptcy Code, 2016 (Code), has notified the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. These Regulations inter alia provide for the details of activities from issue\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\/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":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/233505","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=233505"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/233505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/223422"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=233505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=233505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=233505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}