IBBI invites public comments on (i) Draft Insolvency and Bankruptcy

IBBI invites public comments on (i) Draft Insolvency and Bankruptcy October 11, 2017

(Application to Adjudicating Authority for Insolvency Resolution Process for Individuals and Firms) Rules, 2017, and (ii) Draft Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Individuals and Firms) Regulations, 2017 by 31st October, 2017.

The Insolvency and Bankruptcy Board of India had constituted a Working Group to recommend the strategy and approach for implementation of the provisions of the Insolvency and Bankruptcy Code, 2016 dealing with insolvency and bankruptcy in respect of: (i) Guarantors to corporate debtors i.e. personal guarantors, and (ii) Individuals having business and submit a report along with Draft Rules and Regulations.

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