IBBI clarifies the applicability of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019

Aug 29, 2019 | by Avantis RegTech Legal Research Team


The Insolvency and Bankruptcy Board of India (IBBI) on August 26, 2019, has clarified the applicability of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 notified on July 25, 2019.

IBBI notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2019 (Amendment Regulations) on July 25, 2019 and it came into force on the date of their publication in the Official Gazette, that is, on July 25, 2019.

The stakeholders have expressed a difficulty in applying the Amendment Regulations to a liquidation process, which commenced before July 25, 2019. Therefore, it is reiterated that the provisions of the Amendment Regulations are not applicable to the liquidation processes, which had commenced before coming into force of the said Amendment Regulations and that they are applicable only to liquidation processes, which commenced on or after July 25, 2019.

[Circular No. IBBI/LIQ/024/2019]


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