On 3-2-2025, the Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2025 to amend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The provisions came into force on 3-2-2025.
Key Points:
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Regulation 4-E has been introduced relating to Handling over the possession:
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Resolution Professional (‘RP’) will have to obtain 66% of total votes of the committee;
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Only after attaining the required votes, RP will hand over the possession of the plot, apartment, or building or any instruments which was to be transferred.
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Chapter V relating to Read the original article here
