NCLT authorizes 10 benches to exercise functions of Tribunal under Bankruptcy code Related Post on Insolvency and Bankruptcy Board of India Insolvency and Bankruptcy Code, 2016 National Company Law Tribunal Rules 2016 and NCLAT Rules 2016 Notified by MCA Insolvency and Bankruptcy Board of India w.e.f 01 oct 2016 Insolvency and Bankruptcy Board of India Notified… Read More »
Insolvency and Bankruptcy Board of India invite public comments on draft regulations on Information Utilities. The Ministry of Corporate Affairs had set up four Working Groups to facilitate implementation of the Insolvency and Bankruptcy Code, 2016. The Working Group- 4 had a mandate to deliberate and submit its recommendations on rules, regulations and other related… Read More »
Guide to Insolvency and Bankruptcy Code 2016 (2017 Edition) Paperback – 2016 Book on Insolvency and Bankruptcy Code 2016 (2017 Edition) Incorporating: Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations,2016 Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations,2016 Insolvency and Bankruptcy Board of India (Insolvency… Read More »
Regulations relating to Liquidation Process INSOLVENCY AND BANKRUPTCY BOARD OF INDIA 15th December, 2016 Subject: Regulations relating to Liquidation Process The Insolvency and Bankruptcy Board of India (Board), in exercise of its powers conferred under section 240 of the Insolvency and Bankruptcy Code, 2016 (Code), has notified today the Insolvency and Bankruptcy Board of India… Read More »
Section 194 of Insolvency and Bankruptcy Code 2016 Vacancies, etc., not to invalidate proceedings of Board, Officers and employees of Board. 194. (1) No act or proceeding of the Board shall be invalid merely by reason of— (a) any vacancy in, or any defect in the constitution of, the Board; or (b) any defect in the… Read More »
Section 193 of Insolvency and Bankruptcy Code 2016 Member not to participate in meetings in certain cases. 193. Any member, who is a director of a company and who as such director has any direct or indirect pecuniary interest in any matter coming up for consideration at a meeting of the Board, shall, as soon as… Read More »
Section 192 of Insolvency and Bankruptcy Code 2016 Meetings of Board. 192. (1) The Board shall meet at such times and places, and observe such rules of procedure in regard to the transaction of business at its meetings (including quorum at such meetings) as may be determined by regulations. (2) The Chairperson, or if, for any… Read More »
Section 191 of Insolvency and Bankruptcy Code 2016 Powers of Chairperson. 191. Save as otherwise determined by regulations, the Chairperson shall have powers of general superintendence and direction of the affairs of the Board and may also exercise such other powers as may be delegated to him by the Board. Related Post Insolvency and Bankruptcy… Read More »
Section 190 of Insolvency and Bankruptcy Code 2016 Removal of member from office. 190. The Central Government may remove a member from office if he— (a) is an undischarged bankrupt as defined under Part III; (b) has become physically or mentally incapable of acting as a member; (c) has been convicted of an offence, which in the… Read More »
Section 189 of Insolvency and Bankruptcy Code 2016 Constitution of Board. 189. (1) The Board shall consist of the following members who shall be appointed by the Central Government, namely:— (a) a Chairperson; (b) three members from amongst the officers of the Central Government not below the rank of Joint Secretary or equivalent, one each to… Read More »