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ARTICLE · 28 OCTOBER 2024

Restructuring & Insolvency Monthly Update | October 2024

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Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024 dated September 24, 2024...

IndiaInsolvency/Bankruptcy/Re-Structuring
Abhirup Dasgupta
Abhirup Dasgupta
Ishaan Duggal
Ishaan Duggal
Ruchi Goyal
Ruchi Goyal
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STATUTORY UPDATES

Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024 dated September 24, 20241

  • By way of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024, the Insolvency and Bankruptcy Board of India (IBBI) proposes to amend Regulation 16A of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations) to streamline the provision for appointment of Authorised Representative (AR) for the Financial Creditors in a Class, as under:
    • The choice of an AR mentioned in Form CA by a Financial Creditor in a Class shall not be considered, if the Form CA is received after the time stipulated in the public announcement.

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