The Insolvency and Bankruptcy Board of India, on 18.09.2023, made the amendments to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023, vide Notification No. IBBI/2023-24/GN/REG 106, dated 18.09.2023. Major changes in the process of corporate insolvency resolution process have been brought through this amendment.
Details of debt etc in application for CIRP
The amendment inserted a new Regulation 2D, which requires the financial creditor or operational creditor while filing application for initiation of corporate insolvency resolution process the creditor shall also submit along with evidence, chronology of the debt and default including the date when the de…
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