Wheels set in motion for new insolvency and bankruptcy regime – International Law Office (registration)

Following the establishment of the Insolvency and Bankruptcy Board of India, the government has taken two concrete steps to expedite the implementation of the Insolvency and Bankruptcy Code 2016 in particular, the government has:

• appointed members to the Insolvency and Bankruptcy Board; and
• released draft rules and regulations.

Appointments

After notifying the provisions of the code (by way of notifications dated August 5 2016(1) and August 19 2016,(2) respectively) that address the constitution of the Bankruptcy Board, including the appointment of a chair and full-time members, its powers and other related provisions, the Ministry of Corporate Affairs notified(…

Read the full article at: http://www.internationallawoffice.com/Newsletters/Insolvency-Restructuring/India/Phoenix-Legal/Wheels-set-in-motion-for-new-insolvency-and-bankruptcy-regime