IBBI invites Suggestions and Comments on Draft Specimen: Information Memorandum, Evaluation Matrix, Request for Resolution Plans and Resolution Plan

Nov 27, 2018 | by Avantis RegTech Legal Research Team

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The Insolvency and Bankruptcy Board of India (IBBI) on November 26, 2018 has invited suggestions and comments on Draft Specimen: Information Memorandum, Evaluation Matrix, Request for Resolution Plans and Resolution Plan.

The Insolvency and Bankruptcy Code, 2016 read with the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 indicate the content and purpose of the documents. Market has developed best practices about detailed content of the documents from the perspective of adequacy and relevance for stakeholders. It, however, requires considerable skill and expertise and due diligence to prepare these documents which are complete, correct, relevant and user friendly, while confirming to the requirements of the Code and Regulations and meeting the need and expectations of the stakeholders.

A few stakeholders have prepared draft specimen of the documents (placed as Annexures). The IBBI intends to refine the documents, with inputs from stakeholders, and release them as specimen for guidance of the stakeholders. IBBI invites suggestions and comments from stakeholders as under:

Sr. No.

Document

Annexure

Suggestions and Comments may be mailed to

1

Draft Specimen of Information Memorandum  along with

a. Draft Specimen of Information Memorandum for a Corporate Debtor in Manufacturing Sector, and  

b. Draft Specimen of Information Memorandum for a Corporate Debtor in Power Sector.

A

 

 

A1

 

 

A2

 

 

 

 

 

 

[email protected]

2

Draft Specimen of Evaluation Matrix

B

3

Draft Specimen of Request for Resolution Plans

C

4

Draft Specimen of Resolution Plan

D

 

The suggestions and comments may be mailed at the email address as indicated in column 4 of the above table, by December 15, 2018. In the subject line of the email, please state: “Comments on Information Memorandum (A, A1 and A2)/ Comments on Evaluation Matrix (B) / Comments on Request for Resolution Plans (C) / Comments on Resolution Plan (D).       

[Press Release No. IBBI/PR/2018/33]

 

URL: https://ibbi.gov.in/webadmin/pdf/press/2018/Nov/PR-Specimen-compressed.pdf


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