MCA’s Draft Regulations on Insolvency and Bankruptcy for comments

MCA’s Exposure Draft of Regulations on Insolvency and Bankruptcy issued for comments/ suggestions

The MCA (Insolvency Section) has issued Notice inviting comments/ suggestions on draft regulations relating to insolvency and bankruptcy, from the concerned stakeholders, as under:

The Ministry of Corporate Affairs (MCA) as part of the process for implementing the Insolvency and Bankruptcy Code, 2016 (Code) had set-up a working group consisting of practitioners and experts for making recommendations for drafting regulations for registration and regulation of insolvency professionals and insolvency professional agencies envisaged under the Code.

Based on recommendations of the working group, the following regulations have been drafted:

Insolvency and Bankruptcy (Registration of Insolvency Professionals] Regulations, 2016 

Insolvency and Bankruptcy (Registration of Insolvency Professional Agencies) Regulations, 2016 

Insolvency and Bankruptcy [Model Bye-laws of Insolvency Professional Agencies) Regulations, 2016

These regulations have been made available on the online portal of the MCA.

Comments, on behalf of the Insolvency and Bankruptcy Board of India, are invited from interested stakeholders on these draft regulations. Interested stakeholders may submit their comments only in the prescribed format available on the website of MCA latest by 28 Oct. 2016.

Article/ Update Shared by:
Surinder Vashishtha (ACS, ACMA, M.Com, LLB, PGDSBL, DIPR), Surinder Vashishtha & Associates, Company Secretaries, UGF, G1/285, Dal Mill Road, Uttam Nagar, New Delhi – 110059; Mobile: +91-9868074335; email:[email protected]

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