IBBI Issues Newsletter for July-September Period

The Insolvency and Bankruptcy Board of India (IBBI) issued a newsletter for the period July to September for its members. The newsletter consists of all the major amendments, judgments, judicial orders and major events during the said period.

“It has to be borne in mind that amendments in the Code and/or regulations may not suffice. The performance of the Code is based on the collective participation of all stakeholders in a non-adversarial manner. From early identification of distress to value maximizing insolvency resolution, each stage and activity in the processes under the Code needs constant engagement, willingness and commitment of all the stakeholders. There is a need to ensure that all stakeholders keep their respective act for the successful implementation of the Code,” IBBI Chairman Shri. Ravi Mital said.

the Government has amended the Code six times during the last six years. The Insolvency and Bankruptcy Board of India (IBBI), the Regulator, has also made 84 amendments to its 18 regulations made under the Code, out of which around 22 amendments have been made in the past one year alone.

Recently, Mr. Jayanti Prasad took charge as Whole-time Member (WTM) of the IBBI on July 5, 2022. He is a 1986 batch Indian Audit and Accounts Service officer, superannuated as Deputy Comptroller & Auditor General (Human Resources and International Relations).

In order to develop a credible partnership to sensitize the stakeholders, in the emerging field of Insolvency and Bankruptcy, the IBBI signed two Memorandum of Understanding (MoU) in September, 2022 for cooperation in advocacy initiatives with the Indian Institute of Management–Visakhapatnam (IIMV); and National Law University, Odisha (NLU Odisha). These MOUs are initially for a period of three years, extendable further by mutual consultation. Conduct of Certificate Courses, Diploma, Postgraduate Programmes, Case Studies, Training, Conferences, Seminars, Moot Competition, Continuing Professional Education (CPE), etc. are few of the proposed areas of cooperation under the MOUs.

To Read the full text of the Order CLICK HERE

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