IBBI Extends Application Window for Renewal of Authorization for Assignment From 45 to 90 Days Before Expiry
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- By Chetan Kulasri
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- Last Updated on 31 January, 2025
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Notification F. No. IBBI/2024-25/GN/REG117, Dated: 28.01.2025
The IBBI has notified amendment in the Model Bye-Laws for Insolvency Professional Agencies. Now, the application window for renewal of authorization for assignment has been extended from 45 to 90 days before expiry. Additionally, it will be deemed approved if the Agency does not issue, renew, or reject the authorization within 90 days (earlier 15 days) of receiving the application.
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