CAIRR Update February 18, 2020

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CAIRR Update February 18, 2020

February 18, 2020

Summary of Corrigendum issued by IBBI and MCA on 14/02/2020 and 17/02/2020 respectively.

1. Corrigendum to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2020


IBBI, through its corrigendum, has provided a revised illustration, as per which the levy of additional fees shall come into effect on various forms to be filed by Resolution Professionals as applicable under Regulation 40B for delay in filing of forms after April 1, 2020. The said Corrigendum is integrated in our free-to-use website for your easy reference.

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2. Insolvency Professionals(IPs) to file necessary forms with MCA upon initiation of insolvency proceeding of a company under IBC, 2016


Through this circular, MCA has detailed out the steps to be carried out by an lnterim Resolution Professional (lRP) or a Resolution Professional (RP) or a Liquidator, appointed under IBC, 2016, with respect to filing of required forms, starting with INC-28 which has to be submitted along with the NCLT order appointing him/her as IRP/RP/Liquidator,  with MCA-21. Master Data of the Company in MCA will also display the said company is under CIRP or Liquidation, as the case may be, and the name of the IP so appointed shall be displayed in the CEO column. Further details of the said circular are available in our free-to-use website for your ready reference.


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By | 2020-02-18T16:27:26+00:00 February 18th, 2020||0 Comments

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