{"id":251348,"date":"2021-07-16T10:30:54","date_gmt":"2021-07-16T05:00:54","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=251348"},"modified":"2021-07-22T13:27:15","modified_gmt":"2021-07-22T07:57:15","slug":"registered-professional-to-appoint-two-registered-valuers-to-determine-fair-value-and-liquidation-value-of-the-corporate-debtor","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/16\/registered-professional-to-appoint-two-registered-valuers-to-determine-fair-value-and-liquidation-value-of-the-corporate-debtor\/","title":{"rendered":"Registered Professional to appoint two registered valuers to determine fair value and liquidation value of the corporate debtor"},"content":{"rendered":"<p style=\"text-align: justify;\">On July 14, 2021, <span id=\"page5R_mcid4\" class=\"markedContent\"><span class=\"\" dir=\"ltr\" role=\"presentation\">the Inso<\/span><span dir=\"ltr\" role=\"presentation\">lvency <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">and Bankruptcy Board of India makes the <span id=\"page5R_mcid5\" class=\"markedContent\"> Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2021<\/span> further to amend the <a href=\"http:\/\/www.scconline.com\/DocumentLink\/LhNrU8Vb\">Insolvency and\u00a0 <\/a><\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.\u00a0<\/span><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span id=\"page5R_mcid8\" class=\"markedContent\"><span class=\"\" dir=\"ltr\" role=\"presentation\">In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">Regulations, 2016, in regulation 3 relating to Eligibility for resolution professional,<\/span>\u00a0<\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 40px; text-align: justify;\"><span id=\"page5R_mcid9\" class=\"markedContent\"><span class=\"\" dir=\"ltr\" role=\"presentation\">(i) in sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">regulation (1) (2), for the words \u201ca resolution profe<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">ssional\u201d, the words \u201c<\/span><span dir=\"ltr\" role=\"presentation\">an interim<\/span> <span class=\"\" dir=\"ltr\" role=\"presentation\">resolution professional <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">or a resolution professional, as the case may be,\u201d shall be substituted;<\/span><\/span><span id=\"page5R_mcid10\" class=\"markedContent\"> <\/span><\/p>\n<p style=\"padding-left: 40px; text-align: justify;\"><span id=\"page5R_mcid11\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(ii) for<\/span> <span class=\"\" dir=\"ltr\" role=\"presentation\">sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">regulation (3), the following sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">regulation shall be substituted :<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span> <\/span><span id=\"page5R_mcid12\" class=\"markedContent\"><\/span><\/p>\n<p style=\"padding-left: 80px; text-align: justify;\"><span id=\"page5R_mcid12\" class=\"markedContent\" style=\"color: #008000;\"><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">\u201c(3)<\/span> <span dir=\"ltr\" role=\"presentation\">An interim<\/span> <span class=\"\" dir=\"ltr\" role=\"presentation\">resolution professional or<\/span> <span class=\"\" dir=\"ltr\" role=\"presentation\">a resolution professional, who is a director or a partner of<\/span> <span dir=\"ltr\" role=\"presentation\">an\u00a0 <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">insolvency <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">professional <\/span><span dir=\"ltr\" role=\"presentation\">entity, <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">shall <\/span><span dir=\"ltr\" role=\"presentation\">not <\/span><span dir=\"ltr\" role=\"presentation\">continue <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">as <\/span><span dir=\"ltr\" role=\"presentation\">the <\/span><span dir=\"ltr\" role=\"presentation\">interim<\/span> <span class=\"\" dir=\"ltr\" role=\"presentation\">resolution <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">professional <\/span><span dir=\"ltr\" role=\"presentation\">or <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">resolution\u00a0 <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">professional, as the case may be, in a corporate insolvency resolution process, if the insolvency professional\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">entity or any other partner or direct<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">or of such insolvency professional entity represents any other stakeholder in\u00a0 <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">that corporate insolvency resolution process.\u201d.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: justify;\"><span id=\"page5R_mcid15\" class=\"markedContent\"><span class=\"\" dir=\"ltr\" role=\"presentation\">In the principal regulations, after regulation 4A relating to Choice of authorised representative, the following regulation shall be inserted:<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span> <\/span><span id=\"page5R_mcid16\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 80px; text-align: justify;\"><span style=\"color: #008000;\"><span id=\"page5R_mcid16\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u201c4B.<\/span> <span class=\"\" dir=\"ltr\" role=\"presentation\">Disclosure of change in name and address of corporate debtor.<\/span> <\/span><span id=\"page5R_mcid17\" class=\"markedContent\"><br role=\"presentation\" \/><span class=\"\" dir=\"ltr\" role=\"presentation\">Where a corporate debtor has changed its name or registered office a<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">ddress during the period of two years <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">preceding the insolvency commencement date, the interim resolution professional or resolution professional, as\u00a0 <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">the case may be, shall disclose all the former name(s) and registered office address(es) so changed along w<\/span><span dir=\"ltr\" role=\"presentation\">ith\u00a0 <\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">the current name and registered office address in every communication, record, proceeding or any other <\/span><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">document.\u201d<\/span> <\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li><span id=\"page5R_mcid21\" class=\"markedContent\"><span class=\"\" dir=\"ltr\" role=\"presentation\">In the principal regulations,<\/span> <span class=\"\" dir=\"ltr\" role=\"presentation\">for regulation 27, the following regulation shall be substituted:<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span> <\/span><span id=\"page5R_mcid22\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 80px; text-align: justify;\"><span style=\"color: #008000;\"><span id=\"page5R_mcid22\" class=\"markedContent\"><span class=\"\" dir=\"ltr\" role=\"presentation\">\u201c27. Appointment of Professionals.<\/span> <\/span><span id=\"page5R_mcid23\" class=\"markedContent\"><br role=\"presentation\" \/><span class=\"\" dir=\"ltr\" role=\"presentation\">(1) The resolution professional shall, within <span class=\"highlight\">seven<\/span> days of his appointment but not later than forty<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\"><span class=\"highlight selected\">seven<\/span>th day <\/span><br role=\"presentation\" \/><span class=\"\" dir=\"ltr\" role=\"presentation\">from the insolvency commencemen<\/span><span class=\"\" dir=\"ltr\" role=\"presentation\">t date, appoint two registered valuers to determine the fair value and the <\/span><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">liquidation value of the corporate debtor in accordance with regulation 35.<\/span><\/span><\/span><\/p>\n<p style=\"padding-left: 80px; text-align: justify;\"><span id=\"page10R_mcid0\" class=\"markedContent\" style=\"color: #008000;\"><span dir=\"ltr\" role=\"presentation\">(2) The interim resolution professional or the resolution professional, as the case may be, <\/span> <span dir=\"ltr\" role=\"presentation\">may appoint a<\/span><span dir=\"ltr\" role=\"presentation\">ny\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">professional, in addition to registered valuers under sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span dir=\"ltr\" role=\"presentation\">regulation (1), to assist him in discharge of his duties in\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">conduct of<\/span> <span dir=\"ltr\" role=\"presentation\">the corporate insolvency resolution process, if he<\/span> <span dir=\"ltr\" role=\"presentation\">is of the opinion that the services of such<\/span> <span dir=\"ltr\" role=\"presentation\">professional are required and<\/span> <span dir=\"ltr\" role=\"presentation\">such services are not available with the corporate debtor. <\/span> <\/span><\/p>\n<p style=\"padding-left: 80px; text-align: justify;\"><span style=\"color: #008000;\"><span id=\"page10R_mcid1\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(3) The interim resolution professional or the resolution professional, as the case may be, shall appoint a <\/span><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">professional under this regulation on an arm\u201fs length basis following an objective and <\/span><span dir=\"ltr\" role=\"presentation\">transparent process:<\/span> <\/span><span id=\"page10R_mcid2\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">Provided that the following persons shall not be appointed, namely: <\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span> <\/span><span id=\"page10R_mcid3\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(a) a relative of the resolution professional; <\/span> <\/span><span id=\"page10R_mcid4\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(b) a related party of the corporate debtor; <\/span> <\/span><span id=\"page10R_mcid5\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(c) an auditor of the corporate debtor at any time during the period o<\/span><span dir=\"ltr\" role=\"presentation\">f five years preceding the insolvency <\/span><span dir=\"ltr\" role=\"presentation\">commencement date; <\/span> <\/span><span id=\"page10R_mcid6\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">(d) a partner or director of the insolvency professional entity of which the resolution professional is a partner or <\/span><span dir=\"ltr\" role=\"presentation\">director.<\/span> <\/span><\/span><\/p>\n<p style=\"padding-left: 80px; text-align: justify;\"><span id=\"page10R_mcid7\" class=\"markedContent\" style=\"color: #008000;\"><span dir=\"ltr\" role=\"presentation\">(4) The invoice for fee and other expenses incurred by a professional a<\/span><span dir=\"ltr\" role=\"presentation\">ppointed under this regulation shall be <\/span><br role=\"presentation\" \/><span dir=\"ltr\" role=\"presentation\">raised in the name of the professional and be paid directly into the bank account of such professional.\u201d<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<ul style=\"text-align: justify;\">\n<li><span id=\"page10R_mcid9\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\"> In the principal regulations, in regulation 40B relating to <b>Filing of Forms<\/b>, after sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span dir=\"ltr\" role=\"presentation\">regulation (1A), the following sub<\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span><span dir=\"ltr\" role=\"presentation\">regulation shall be\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">inserted : <\/span><span dir=\"ltr\" role=\"presentation\">&#8211;<\/span> <\/span><span id=\"page10R_mcid10\" class=\"markedContent\"><br role=\"presentation\" \/><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 80px; text-align: justify;\"><span style=\"color: #008000;\"><span id=\"page10R_mcid10\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">\u201c(1B) The resolution professional shall file Form CIRP 8 intimating details of his opinion an<\/span><span dir=\"ltr\" role=\"presentation\">d determination\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">under regulation 35A, on or before the one hundred and fortieth day of the insolvency commencement date:<\/span> <\/span><span id=\"page10R_mcid11\" class=\"markedContent\"><\/span><\/span><\/p>\n<p style=\"padding-left: 80px; text-align: justify;\"><span id=\"page10R_mcid11\" class=\"markedContent\" style=\"color: #008000;\"><span class=\"\" dir=\"ltr\" role=\"presentation\">Provided that the filing of Form CIRP 8 shall not become due unless a period of thirty days has elapsed\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">from the date of commencement o<\/span><span dir=\"ltr\" role=\"presentation\">f the Insolvency and Bankruptcy Board of India (Insolvency Resolution\u00a0 <\/span><span dir=\"ltr\" role=\"presentation\">Process for Corporate Persons) (Second Amendment) Regulations, 2021.\u201d<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 14, 2021, the Insolvency and Bankruptcy Board of India makes the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process <\/p>\n","protected":false},"author":8808,"featured_media":160494,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-251348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast 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2016","author":"Bhumika Indulia","date":"November 29, 2019","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2019 on 28th\u00a0November 2019. 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":255018,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/01\/ibbi-insolvency-resolution-process-for-corporate-persons-third-amendment-regulations-2021\/","url_meta":{"origin":251348,"position":1},"title":"IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2021","author":"Bhumika Indulia","date":"October 1, 2021","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India made Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)(Third Amendment) Regulations, 2021 to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Key Amendments: In the Insolvency and Bankruptcy Board of India\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\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":227717,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/31\/ibbi-amends-ibbi-insolvency-resolution-process-for-corporate-persons-regulations-2016-amidst-the-nationwide-lockdown-for-containment-of-covid-19\/","url_meta":{"origin":251348,"position":2},"title":"IBBI amends &#8212; IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 amidst the nationwide lockdown for containment of COVID-19","author":"Bhumika Indulia","date":"March 31, 2020","format":false,"excerpt":"The Insolvency and Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) on 29-03-2020. 2. Government of India has declared a lockdown of twenty-one days with effect from 25th March, 2020 as a measure to combat\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":217442,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/07\/29\/ibbi-notifies-amendments-to-regulations-in-regard-to-liquidation-process-90-days-for-completion-of-compromise\/","url_meta":{"origin":251348,"position":3},"title":"IBBI notifies amendments to regulations in regard to liquidation process; 90 days for completion of compromise","author":"Bhumika Indulia","date":"July 29, 2019","format":false,"excerpt":"The IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. 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":261447,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/10\/ibbi-insolvency-resolution-process-for-corporate-persons-amendment-regulations-2022\/","url_meta":{"origin":251348,"position":4},"title":"IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022","author":"Bhumika Indulia","date":"February 10, 2022","format":false,"excerpt":"On February 09, 2022, the Insolvency and Bankruptcy Board of India (IBBI) has issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022 to further amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Key Points:\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\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/10\/MicrosoftTeams-image-56.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":251348,"position":5},"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":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/251348","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=251348"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/251348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/160494"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=251348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=251348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=251348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}