IBBI Amends Insolvency Resolution Process for Corporate Persons Regulations; Insert Norms w.r.t. ‘Appointment of Facilitators’
- Blog|News|Insolvency and Bankruptcy Code|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 11 February, 2025
Latest from Taxmann
Notification No. F. No. IBBI/2024-25/GN/REG122; Dated: 03.02.2025
IBBI has notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2025. A new regulation 16C relating to ‘appointment of facilitators’ has been inserted. It states that where the number of creditors in a class exceeds Rs 1000, the committee may direct the IRP/RP to appoint an insolvency professional, resolution professional and authorised representative or any other person as facilitator subject to certain conditions.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
CA | CS | CMA
