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TMI BlogInsolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... mend the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, namely: - 1. (1) These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (hereinafter referred to as the principal regulations), in regulation 36B, after sub-regulation (4), the following sub-regulation shall be inserted, namely: - "(4A) The request for resolution plans shall require the resolution appli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions, in regulation 39,- (i) in sub-regulation (4), for "Form H of the Schedule", the following shall be substituted, namely: - "Form H of the Schedule and the evidence of receipt of performance security required under sub-regulation (4A) of regulation 36B." ; (ii) after sub-regulation (8), the following sub-regulation shall be inserted, namely:- "(9) A creditor, who is aggrieved by non-implementation of a resolution plan approved under sub-section (1) of section 31, may apply to the Adjudicating Authority for directions.". 5. In the principal regulations, in the Schedule, in Form H, - (a) for paragraph 7, the following shall be substituted, namely: - "7. The amounts provided for the stakeholders under the Resolution Plan is as under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide notification No. IBBI/2016-17/GN/REG004 on 30th November, 2016 and was subsequently amended by- 1) The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2017 vide notification No. IBBI/2017-18/GN/REG013, dated the 16th August, 2017; 2) The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2017 vide notification No. IBBI/2017- 18/GN/REG018, dated the 5th October, 2017; 3) The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2017 vide notification No. IBBI/2017- 18/GN/REG019, dated the 7th November, 2017; 4) The I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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