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IBBI gaze a better Implementation of IBC The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Securities and Exchange Board of India (SEBI).  The IBBI and the SEBI seek effective implementation of the Insolvency and Bankruptcy Code, 2016 (Code) and its allied rules and regulations, which have redefined the debt-equity relationship and aims to promote entrepreneurship and debt market.  They have agreed under the MoU to assist and co-operate with each other for the effective implementation of the Code, subject to limitations imposed by the applicable laws. The MoU provides for, (a) sharing of information between the two parties, subject to the limitations imposed by the applicable laws; (b) sharing of resources available with each other to the extent feasible and legally permissible. (c) periodic meetings to discuss matters of mutual interest, including regulatory requirements that impact each party's res

IFC is interested to assist the IBBI to further build the capacity of the Insolvency Professionals The Insolvency and Bankruptcy Board of India (IBBI) signed a Cooperation Agreement with the International Finance Corporation (IFC), a Member of the World Bank Group (WBG). The Agreement was signed by Mr. K. R. Saji Kumar, Executive Director, IBBI and Mr. Jun Zhang, Country Manager, IFC India, in the august presence of Mr. Injeti Srinivas, Secretary, Ministry of Corporate Affairs, Dr. M. S. Sahoo, Chairperson, IBBI, Mr. Gyaneshwar Kumar Singh, Joint Secretary, Ministry of Corporate Affairs, and other distinguished officers of the Ministry of Corporate Affairs and IBBI. The Insolvency and Bankruptcy Code, 2016 (Code) provides for re-organisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the i

Organises Bankruptcy Awareness Programme The Insolvency and Bankruptcy Board of India (IBBI), in association with the three Insolvency Professional Agencies, namely, the Indian Institute of Insolvency Professionals of ICAI, the ICSI Institute of Insolvency Professionals, and the Insolvency Professional Agency of Institute of Cost Accountants of India, organised an Insolvency and Bankruptcy Awareness Programme at Vadodara, Gujarat recently. A large number of stakeholders, including students, professionals, bankers, and business persons participated in the programme. While inaugurating the programme, Hon’ble Mr. H. P. Chaturvedi, Member-Judicial, National Company Law Tribunal-NCLT, Ahmedabad detailed the role of the Adjudicating Authority in respect of Corporate Insolvency Resolution and Liquidation Processes under the Insolvency and Bankruptcy Code, 2016 (Code). He stated that the Code is a dynamic law and is evolving continuously to meet emerging needs. Resolut