IBBI rescinds 7 circulars issued under the IBC on account of duplicity
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- By Chetan Kulasri
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- Last Updated on 25 May, 2022
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Circular no. No. IBBI/CIRP/3/2022, Dated: 23.05.2022
IBBI has reviewed the circulars issued by the Board on a time to time basis. IBBI observed that certain circulars are no longer required on account of being already provided in IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, or IBBI (Insolvency Professionals) Regulations, 2016. Therefore, it has been decided to rescind the circulars which are already covered in the regulations to avoid duplicity. Total 7 circulars have been rescinded with an immediate effect.
Such a list of circulars includes confidentiality of Information relating to processes under the Insolvency and Bankruptcy Code, 2016, Notice for Meetings of the Committee of Creditors, Voting in the Committee of Creditors, etc.
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