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ARTICLE · 28 NOVEMBER 2023

HSA | Restructuring & Insolvency Monthly Update | November 2023

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The Insolvency and Bankruptcy Board of India (IBBI) vide discussion paper dated November 01, 2023 sought comments on the prospective amendments to the Insolvency...

IndiaInsolvency/Bankruptcy/Re-Structuring
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Discussion paper on amendments to IBBI (Insolvency Resolution Process for Corporate Process) Regulations, 2016

  • The Insolvency and Bankruptcy Board of India (IBBI) vide discussion paper dated November 01, 2023 sought comments on the prospective amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, 2016 (CIRP Regulations). The paper deals with the proposed amendments focusing on bridging certain existing gaps in the procedure of the Corporate Insolvency Resolution Process (CIRP), and outlines 7 distinct issues in the CIRP and proposes amendments to address the same:
    • Approval of Committee of Creditors (CoC) for insolvency resolution process cost

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