The Insolvency and Bankruptcy Board of India (IBBI) on March 04, 2021 has issued the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2021 to further amend the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
In regulation 31(2) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 which deals with the filing of the list of stakeholders, has been substituted with “the liquidator shall file the list of stakeholders with the Adjudicating Authority within forty-five days from the last date for receipt of the claims.”
The amendment has inserted the Regulation 31 (5)(d), which specifies the filing of list of stakeholders wherein it says, “filed on the electronic platform of the Board for dissemination on its website. Provided that this clause shall apply to every liquidation process ongoing and commencing on or after the date of commencement of the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2021.”
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