CAIRR Update January 16, 2020

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CAIRR Update January 16, 2020

January 16, 2020

Summary of Notifications issued on January 9, 2020 and January 15, 2020 are detailed below:

1. The Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Amendment Rules, 2020:


IBBI by this notification has amended the tenure of service of part-time members from a maximum of 3 years to a maximum of 5 years or 65 years of age whichever is earlier.

Further, the clause that restricted the term of office for a casual vacancy only till the remainder of the term of original appointee has been omitted.

                                                                                                                                                                                                                 (Read more…)

2.  Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020:
IBBI by this amendment has introduced two new formats for Corporate Voluntary Liquidation Account:
i. Form G- Statement of deposit of Unclaimed Dividends and/or Undistributed Proceeds
ii. Form H- Application for withdrawal from Corporate Voluntary Liquidation Account by stakeholders
                                                                                                                                                                                                                                  (Read more…)

By | 2020-01-16T14:56:28+00:00 January 16th, 2020||0 Comments

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