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ARTICLE · 08 MAY 2023

HSA | Restructuring & Insolvency Monthly Update | April 2023

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The Insolvency and Bankruptcy Board of India (IBBI) vide Circular dated March 04, 2023 revised the format for serving a copy of the application for initiating Corporate Insolvency...

IndiaInsolvency/Bankruptcy/Re-Structuring
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Serving of copy of applications to the Board, as mandated under Rules 4, 6 and 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016

  • The Insolvency and Bankruptcy Board of India (IBBI) vide Circular dated March 04, 2023 revised the format for serving a copy of the application for initiating Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor to IBBI, before filing the same with the Adjudicating Authority.
  • The said Circular has been issued in supersession of the earlier Circular [Serving of copy of applications to the Board, as mandated under Rules 4, 6 and 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016] issued on October 29, 2020, vide which IBBI had made available on its website the facility for serving a copy to it.

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