IBBI IRPPG Regulations, 2019

Regulations 22. Non-cooperation by guarantor.— In the event of non-cooperation of the guarantor at any time during the resolution process period or during the implementation of the repayment plan, the…

Regulations 21. Application for discharge order.— (1) The resolution professional shall, for the purpose of discharge order, file an application along with copies of the notice and report under section…

Regulations 20. Breach of repayment plan by the guarantor.— (1) If in the opinion of the resolution professional, the guarantor has failed in implementation of the repayment plan, the resolution…

Regulations 19. Filing with the Adjudicating Authority.— (1) The resolution professional shall file the repayment plan, as approved by the creditors, along with the report mentioned in section 106 or…

Regulations 18. Purchase of assets by certain persons.— (1) The following persons shall not purchase or acquire any interest in the property of guarantor, directly or indirectly, without permission of…

Regulations 17. Contents of repayment plan.— (1) The repayment plan shall provide the following - (a) the term of the repayment plan and its implementation schedule, including the amounts to…

Regulations 16. Voting by proxy.— (1) A creditor, who is entitled to vote at a meeting of creditors, shall be entitled to appoint an individual, who shall not be an…

Regulations 15. Voting by creditors.— (1) The resolution professional shall take a vote of the creditors present in the meeting on any item listed for voting after discussion on the…

Regulations 14. Conduct of meeting.— (1) The resolution professional shall preside over the meeting of creditors. (2) At the commencement of a meeting, the resolution professional shall take a roll…

Regulations 13. Quorum.— (1) A meeting of creditors shall be quorate if creditors representing at least thirty-three percent of voting share are present in person, by proxy or through video…