IBBI Bars Late Selection of Insolvency Professional as Authorised Representative Under Amended IRP Norms
- Blog|News|Insolvency and Bankruptcy Code|
- < 1 minute
- By Chetan Kulasri
- |
- Last Updated on 26 September, 2024
Latest from Taxmann
Notification No. IBBI/2024-25/GN/REG116; Dated: 24.09.2024
IBBI has notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024. As per the amended norms, the choice of an insolvency professional to act as an authorised representative by a financial creditor in Form CA must not be considered, if Form CA is received after the time stipulated in public announcement. Further, the IP selected must be entitled to attend committee meetings and have the rights and duties of an authorised representative.
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
