Tag: Committee of Creditors
IBBI seeks tighter regulations around personal guarantors, valuation of insolvent firms
The insolvency regulator on Thursday proposed the withdrawal of interim moratorium protection for personal guarantors to a stressed firm, seeking to align the regulation with…
IBBI seeks to streamline real estate insolvency regulations with focus on homebuyers
The bankruptcy watchdog on Tuesday proposed a raft of steps, including the exclusion of completed or unaffected housing projects from the rescue process with financial…
New creditor-led IBC framework to put in place safeguards for stressed firm’s management
The management of a stressed company undergoing the new creditor-initiated insolvency resolution process (CIIRP) will likely be subject to checks and balances, including limits on…
CoC cannot alter approved resolution plan, reallocate funds of dissenting creditors: NCLAT
New Delhi, The Committee of Creditors (CoC) cannot modify or alter a resolution plan for reallocation of funds of dissenting creditors, after it is approved,…
IBBI seeks to strengthen due diligence on bidders’ compliance with Section 29A
To ensure the integrity of a resolution process, IBBI has asked resolution professionals to submit detailed notes on bidders’ compliance with the insolvency law‘s Section…