SC: Arrest & Remand Illegal if Grounds Not Given in Language Arrestee Understands  ||  SC: Judgment for Deceased Party is Null if Legal Heir was not Brought on Record Before Hearing  ||  SC: Hiding a Candidate’s Conviction Voids Election, Regardless of Whether it Influenced Results  ||  Delhi HC: Not Here to Monitor Delhi University, but Students Must Follow Law During Elections  ||  J&K&L HC: Paying Tax or GST Registration Doesn’t Legalize Unlicensed Business Activities  ||  Delhi HC: Victim’s Past or Character Cannot be Used to Suggest Consent in Assault Cases  ||  P&H HC: Constitution isn’t Privilege Charter; Reservation in Promotions Requires Statutory Amendment  ||  Kerala HC: Law Must be Amended to Hold Landowners Liable for Illegal Paddy Land Reclamation  ||  Bombay HC: Parents Saying Daughter was Unhappy, Wept Often not Enough to Convict under 498A IPC  ||  Kerala HC: Physiotherapists and Occupational Therapists Cannot Use “Dr.” Without Medical Degree    

Application under Rules 4, 6 or 7 of Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016- (Insolvency and Bankruptcy Board of India) (15 Jun 2022)

MANU/NMIC/0190/2022

Insolvency

1. It has been decided that henceforth, the Board will forward the application for initiating insolvency received by it in terms of rule 4, 6 or 7 of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016, to the Information Utility (IU) and on receipt of the said application, the IU shall:

(a) inform other creditors of the Corporate Debtor by sharing the application;

(b) issue notice to the applicant, requiring it to file 'information of default' in the specified format under Insolvency and Bankruptcy Board of India (Information Utility) Regulations, 2017(IU Regulations); and

(c) process the 'information of default' for the purpose of issuing ROD as per the IU Regulations.

2. This circular is issued in exercise of powers under section 196 of the Insolvency and Bankruptcy Code, 2016.

3. This Circular shall come into force with immediate effect.

Tags : APPLICATION   ADJUDICATION AUTHORITY   RULES  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved