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In exercise of the powers conferred by sections 196 and 205 read with section 240 of the Insolvency and Bankruptcy Code, 2016 31 of 2016, the Insolvency and Bankruptcy Board of India hereby makes the following regulations

Date: 1st February 2024
Category: Extra Ordinary
New Delhi

Read or download the official PDF of this gazette notification issued by the Insolvency and Bankruptcy Board of India on 1st February 2024. Classified under Extra Ordinary.

Official Gazette Notification Text

Official Transcript

रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-01022024-251688 xxxGIDHxxx CG-DL-E-01022024-251688 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 75] नई दिल्ली, बुधवार, िनवरी 31, 2024/माघ 11, 1945 No. 75] NEW DELHI, WEDNESDAY, JANUARY 31, 2024/MAGHA 11, 1945 भारतीय दिवाला और िोधन अक्षमता बोड ड अजधसचू...

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  • ✓ The gazette notification introduces the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2024. These regulations amend the 2016 regulations concerning the model bye-laws and governing board of insolvency professional agencies.
  • ✓ The amendment primarily relates to the validity period of assignment authorizations issued or renewed by the agency to insolvency professionals.
  • ✓ The standard validity of an assignment authorization issued or renewed by the agency remains one year from the date of issuance or renewal.
  • ✓ A provision is introduced to extend the validity of assignment authorizations expiring between January 1st and June 30th to June 30th of that year.
  • ✓ Similarly, assignment authorizations expiring between July 1st and December 31st will be valid until December 31st of that year.

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