IBBI (Insolvency Resolution Process for Corporate Persons) (Second
Amendment) Regulations, 2019 notified on 25th July 2019
·
Important Amendments in the following
Regulations / Sections:
·
Substitution of Regulation 30A relating to
“Withdrawal of Application”
·
Changes in Regulation 31 relating to “Insolvency
Resolution Process Costs”
·
Insertion of Regulation 39B relating to “Meeting
Liquidation Cost”
·
Insertion of Regulation 39C relating to
Assessment of Sale as a going concern”
·
Insertion of Regulation 39D relating to “Fee of
Liquidator”
·
Changes in Regulation 40A relating to “Model
Time-line for CIRP”
·
Substitution of Form FA relating to “Application
for withdrawal of CIRP”
