IBBI BPPG Regulations, 2019 – IBC Law Reporter

Bank guarantee is a separate contract and the encashment thereof is not relatable to the assets of the Corporate Debtor, the encashment cannot be termed as Preferential transaction-NCLT Kolkata

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Post published:July 29, 2024
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West Bengal State Electricity Distribution Company Limited vs PNB IA 699 of 2023 Facts: 1) Corporate Debtor was admitted into CIRP vide an order dated 22.07.2022 and as a result…

Regulations 37

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Post published:May 21, 2020
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Regulations 37. Debt counselling.— Debt counselling in relation to bankruptcy process may be provided to a bankrupt by such person as may be recognised by the Board or the Central…

Regulations 36

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Post published:May 21, 2020
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Regulations 36. Unclaimed proceeds of bankruptcy or undistributed assets.— (1) After filing the final report under Regulation 11, the bankruptcy trustee shall, within three days from the date of such…

Regulations 35

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Post published:May 21, 2020
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Regulations 35. Return of amount.— A creditor shall forthwith return any amount received by him in distribution, which he was not entitled to at the time of distribution, or subsequently.

Regulations 34

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Post published:May 21, 2020
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Regulations 34. Distribution of dividend.— (1) Subject to the provisions of sections 174 and section 178, the bankruptcy trustee shall not commence distribution of dividend unless a preliminary report is…

Regulations 33

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Post published:May 21, 2020
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Regulations 33. Distribution of dividend to claimant of deceased creditor.— (1) In the event an application is made by a claimant or heir of a deceased creditor for receiving dividend…

Regulations 32

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Post published:May 21, 2020
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Regulations 32. Bank account for bankruptcy process.— (1) The bankruptcy trustee shall open a bank account in the name of the bankrupt followed by the words ‘in bankruptcy process’, in…

Regulations 31

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Post published:May 21, 2020
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Regulations 31. Realisation of security interest.— (1) A secured creditor, who seeks to realise his security, shall intimate the bankruptcy trustee of the price at which he proposes to realise…

Regulations 30

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Post published:May 21, 2020
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Regulations 30. Valuation of assets.— (1) The bankruptcy trustee shall appoint a registered valuer to value the assets, which may or may not form part of the bankrupt’s estate, when…

Regulations 29

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Post published:May 21, 2020
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Regulations 29. Disclaimer of onerous property.— (1) The bankruptcy trustee shall notify the bankrupt and the persons interested in the onerous property in respect of the proposed disclaimer, at least…