Stricter guidelines for IPs’ conduct: IBBI releases Circulars

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Vallari Dubey

resolution@vinodkothari.com

In order to ensure that IPs stick to their professional conduct in a fair and justifiable manner and to curb activities such as outsourcing of IPs’ responsibilities, the Insolvency and Bankruptcy Board (‘IBBI’) has issued three circulars, addressed towards the Insolvency Professionals fraternity, dated 3rd January, 2018. We’ve discussed each of them at length below.

These circulars shall be in addition to obligations of IPs under Section 208 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’) and the Code of Conduct for Insolvency Professionals (‘IPs’), as provided under First Schedule to the IBBI (Insolvency Professional) Regulations, 2016. Read more →

Consultative meeting with stakeholders (Minutes of the meetings have been shared with the respective stakeholders)

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Resolution bids not to be degraded down by Liquidation Value: CIRP and Fast Track Regulations amended to maintain confidentiality

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Vallari Dubey

resolution@vinodkothari.com

 

The Insolvency and Bankruptcy Board of India (‘IBBI’) has, in exercise of its powers contained in Section 196 read with Section 240 of the Insolvency and Bankruptcy Code, 2016 (‘the Code’), amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (‘CIRP Regulations’)[1] and the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 (‘Fast Track Regulations’)[2] to make small but material changes with respect to two important things, a) Liquidation Value, and b) definition of ‘dissenting financial creditors’. We discuss the changes in further detail below: Read more →

COMPARATIVE ANALYSIS OF AMENDMENTS TO INVIT’S AND REIT’S REGULATIONS, 2017

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By Saloni Mathur & Kirti Sharma , (finserv@vinodkothari.com)

The SEBI in its Board Meeting on 18th September, 2017[1] approved several changes to the regulations issued for REITs.

The recent amendments by way of Securities and Exchange board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2017[2] and the Securities and Exchange board of India (Real Estate Investment Trusts) (Amendment) Regulations, 2017[3] has brought about several changes in the existing regulations, which are the necessary incorporations to the changes that were proposed in the board meeting held on September 18th, 2017. SEBI in its Board Meeting made certain amendments to the SEBI (infrastructure Investment Trusts) Regulations, 2014 and SEBI (Real Estate Investment Trusts) Regulations, 2014 (referred to as ‘REIT Regulations’).

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