CAIRR update 16 Aug, 2019

Summary of notification and Circular in the Companies Act, 2013 and IBBI Code, 2016 issued on 14/08/2019 respectively are listed below:

1. The Companies Amendment Act, 2019:
   MCA with reference to the Companies Act, 2013 dated 31/07/2019 notifies that the sections 6, 7 and 8, clauses (i), (iii) and clause (iv) of section 14, sections 20, section 31, sections 33, 34 and 35, sections 37 and 38 shall come to force on 15th August, 2019. Read more…
2. Filing of Forms for the purpose of monitoring corporate insolvency resolution process and performance of insolvency professionals under the IBBI Code, 2016 and regulations made thereunder:
   Keeping in view the responsibilities of an IPs, the Code now obligates them to forward/submit following information and records relating to CIRP to the IBBI:
   a. All records relating to the conduct of the CIRP and the resolution plan;
   b. A copy of records of every proceeding after the Adjudicating Authority.The detailed description of the forms is included in the circular. Read more…