IBBI Introduces Amendments Which  Allows Homebuyers to take Possession During CIRP

Number of provisions have been altered by the 2016 Amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations Through Notification No. IBBI/2024-25/GN/REG122, dated 03.02.2025, the Insolvency and Bankruptcy Board of India ( IBBI ) has proposed changes to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.  The purpose of these modifications…

EV startup Canoo goes bankrupt

Canoo, once a promising startup with a unique electric vehicle and orders from the likes of the U.S. Postal Service and the Department of Defense, has filed for bankruptcy and ceased all operations. The company announced it filed for Chapter 7 bankruptcy on Jan. 17 in a court in Delaware. This will result in a…