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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…

Impact of Paul Y’s liquidation ‘manageable’: govt

A long-standing construction firm, Paul Y. Engineering Group, on Friday had its provisional liquidation application approved by the court. The High Court has now appointed a provisional liquidator for Paul Y’s five subsidiaries to handle debts and formulate a restructuring plan. The government said while the 78-year-old company is undertaking a number of public works…

Impact of Paul Y’s liquidation ‘manageable’: govt

A long-standing construction firm, Paul Y. Engineering Group, on Friday had its provisional liquidation application approved by the court. The High Court has now appointed a provisional liquidator for Paul Y’s five subsidiaries to handle debts and formulate a restructuring plan. The government said while the 78-year-old company is undertaking a number of public works…

Sale Of Corporate Debtor In Liquidation As Going Concern Beyond 90 Days Is Permissible Under Amended Regulation 32A(4) Of IBC: NCLAT

The National Company Law Appellate Tribunal (“NCLAT”) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Naresh Salecha (Technical Member) has held that the sale of a corporate debtor as a going concern in liquidation can be conducted even beyond 90 days under amended Regulation 32A(4) of the Liquidation Regulations, 2016 (Regulations).…