IBC Updates (Insolvency) _ Monthly Updates _ September, 2020

IBBI Updates {Insolvency and Bankruptcy Board of India}

 

Due to the emerging financial distress faced by most companies it has been decided to raise the threshold of default under section 4 of the IBC 2016 to Rs 1 crore (from the existing threshold of Rs 1 lakh). This will by and large prevent triggering of insolvency proceedings against MSMEs.

 

q  Important Notifications and Circulars Tracker

 

Sl. No.	Notification(s)	Link(s)
1.	Invitation of Application for Empanelment for Platform for Distressed Assets (PDAs)	Click Here
2.	Results of National Online Quiz on IBC, 2016	Click Here
3	Summary - Judgment dated 1st September, 2020 of the Hon’ble Supreme Court of India in the matter of Union of India Vs. Association of Unified Telecom Service Providers of India Etc. [M.A. (D) No. 9887 of 2020 in Civil Appeal Nos. 6328-6399 of 2015]	Click Here
4	Quarterly Newsletter For Apr-Jun, 2020	Click Here
5	IBBI (Use of Caveats, Limitations, and Disclaimers in Valuation Reports) Guidelines, 2020	Click Here
6	IBBI announces results of the National Online Quiz on the Insolvency and Bankruptcy Code, 2016	Click Here
7	In the matter of Union of India Vs. Association of Unified Telecom Service Providers of India Etc. [M.A. (D) No. 9887 of 2020 in Civil Appeal Nos. 6328-6399 of 2015]	Click Here
8	In the matter of Mr Avishek Gupta, Insolvency Professional	Click Here
9	Government issued Advisory to PSBs to moot action against personal guarantors of corporate debtors	Click Here
10	Facilitation Letter - Role of the Government and its Agencies in the Corporate Insolvency Resolution and Liquidation Processes	Click Here
11	The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020	Click Here
12	The Insolvency and Bankruptcy Board of India (Annual Report) Amendment Rules, 2020	Click Here
13	Corporate Insolvency Resolution Processes Ending With Order of Liquidation: As on 30th June, 2020	Click Here
14	National Colloquium on "Corporate Insolvency Resolution Process: Understanding Emerging Issues and Challenges" in association with GNLU, Gandhinagar	Click Here
15	Rajya Sabha passes amendment in Insolvency and Bankruptcy Code: The Rajya Sabha on Saturday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic.	Click Here
16	The Insolvency and Bankruptcy Code (Second Amendment) Act, 2020	Click Here
17	The Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020	Click Here
18	Notification under section 10A of the Insolvency and Bankruptcy Code, 2016	Click Here
19	Annual Publication 2020: 'Insolvency and Bankruptcy Regime in India: A Narrative'	Click Here

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This article is updated till 30^th September, 2020 with all Laws / Regulations and their respective amendments.                                                           

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Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.