Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
Browse the complete directory of sections, rules, and regulations under this statute.
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) REGULATIONS, 2016 1 IBBI/2016-17/GN/REG004. - In exercise of the powers conferred under sections 5, 7, 9, 14, 15, 17, 18, 21, 24, 25, 29, 30, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and Bankruptcy Board of India hereby makes the following Regulations, namely- CHAPTER I PRELIMINARY
Regulation 1Short title and commencement
Regulation 2Definitions
Regulation 2CSubmission of information along with application
Regulation 3Eligibility for resolution professional
Regulation 4Access to books
Regulation 5Extortionate credit transaction
Regulation 6Public announcement
Regulation 7Claims by operational creditors
Regulation 8Claims by financial creditors
Regulation 9Claims by workmen and employees
Regulation 10Substantiation of claims
Regulation 11Cost of proof
Regulation 12Submission of proof of claims
Regulation 13Verification of claims
Regulation 14Determination of amount of claim
Regulation 15Debt in foreign currency
Regulation 16Committee with only operational creditors
Regulation 16BCommittee with only creditors in a class
Regulation 16DRoles and responsibilities of the facilitator
Regulation 17Constitution of committee
Regulation 18Meetings of the committee
Regulation 19Notice for meeting of the committee
Regulation 20Service of notice by electronic means
Regulation 21Contents of the notice for meeting
Regulation 22Quorum at the meeting
Regulation 23Participation through video conferencing
Regulation 24Conduct of meeting
Regulation 25Voting by the committee
Regulation 26Voting through electronic means
Regulation 27Appointment of Professionals
Regulation 28Transfer of debt due to creditors
Regulation 28BFacilitation of transfer of assets
Regulation 29Sale of assets outside the ordinary course of business
Regulation 30Assistance of local district administration
Regulation 31Insolvency resolution process costs
Regulation 32Essential supplies
Regulation 33Costs of the interim resolution professional
Regulation 34Resolution professional costs
Regulation 35Fair value and Liquidation value
Regulation 36Information memorandum
Regulation 37Resolution plan
Regulation 38Mandatory contents of the resolution plan
Regulation 39Approval of resolution plan
Regulation 39DFee of the liquidator
Regulation 40Extension of the corporate insolvency resolution process period