AMENDMENT TO THE LIQUIDATION PROCESS: TIGHTENING OF NORMS

Published On: 22/01/2020

Authors:

Sushmita Gandhi
On January 6, 2020, the Insolvency and Bankruptcy Board of India (the 'IBBI') notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020 (the 'Amendment') to further amend the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (the 'Regulations') The Amendment is with immediate effect and has been introduced to promote the development and regulation of the Insolvency and Bankruptcy Code of India, 2016 (the 'Code'). In light of this, INDUSLAW's Sushmita Gandhi and Nabarun Chandra Ray examine the law on this aspect.