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TMI BlogInsolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... K INSOLVENCY RESOLUTION PROCESS FOR CORPORATE PERSONS) (THIRD AMENDMENT) REGULATIONS, 2017 No. IBBI/2017-18/GN/REG020.-In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 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 to amend the Insolvency and Ban ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e committee to assess the credibility of such applicant and other connected persons to take a prudent decision while considering the resolution plan for its approval. Explanation : For the purposes of this sub-regulation,- (i) 'details' shall include the following in respect of the resolution applicant and other connected persons, namely:- (a) identity; (b) conviction for any offence , if an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the corporate debtor during the implementation of the resolution plan ; (c) holding company, subsidiary company, associate company and related party of the persons referred to in items (a) and (b ) .". 3. In the principal regulations, in regulation 38, for sub-regulation (2), the following sub-regulation shall be substituted, namely:- "(2) The resolution professional shall submit to the com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 012 dated the 14th June, 2017 and was subsequently amended by- (1) the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2017 vide notification No. IBBI/2017- 18/GN/REG014 , dated the 16th August, 2017; (2) the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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