The Insolvency and Bankruptcy Board of India (IBBI) on February 6, 2018 amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
Here are the amendments made to the IBBI Regulations:
Appointment of two registered valuers: The Resolution Professional has to appoint two registered valuers to determine the fair value and the liquidation value of the corporate debtor. After the receipt of resolution plans, the resolution professional needs to provide the fair value and the liquidation value to each member of the committee of creditors in electronic form, on receiving a confidentiality undertaking.
Submission of information memorandum in electronic form: The Resolu…
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