IB Code definition

IB Code means Insolvency and Bankruptcy Code, 2016 and the related rules and regulations issued there under, as amended from time to time;

IB Code means the Insolvency & Bankruptcy Code, 2016 as amended from time to time and rules/ regulations, etc. issued thereunder.

IB Code means Insolvency and Bankruptcy Code, 2016 as amended from time to time. “INR” shall mean the Indian Rupee.

Examples of IB Code in a sentence

• From the legislative history and the background in which the I&B Code has been enacted, it is noticed that a completely new approach has been adopted for speeding up the recovery of the debt due from the defaulting companies.

• The Parliament has expressly stated that the provisions of the I&B Code, 2016 (which is a later enactment to the MRU Act) shall have effect notwithstanding the provisions of any other law for the time being in force.

• If the CoC had approved the resolution plan by requisite percent of voting share, then as per Section 30(6) of the I&B Code, it is imperative for the resolution professional to submit the same to the adjudicating authority (NCLT).

• Be it noted that the process of insolvency resolution and liquidation concerning corporate debtors has been codified in Part II of the I&B Code, comprising of seven Chapters.

• We confirm that we have studied the provisions of the IB Code, the CIRP Regulations and other relevant laws and regulations to enable us to submit our Resolution Plan along with required documents and execute the other required documents in the event of our selection as the Successful Resolution Applicant.

• Besides, the commercial wisdom of CoC has been given paramount status without any judicial intervention, for ensuring completion of the stated processes within the timelines prescribed by the I&B Code.

• The powers and functions of the Board have been delineated in Section 196 of the I&B Code.

• None of the specified functions of the Board, directly or indirectly, pertain to regulating the manner in which the financial creditors ought to or ought not to exercise their commercial wisdom during the voting on the resolution plan under Section 30(4) of the I&B Code.

• The Board referred to is established under Section 188 of the I&B Code.

• The CoC is constituted as per Section 21 of the I&B Code, which consists of financial creditors.

More Definitions of IB Code

IB Code or “IBC” or “Code” means Insolvency and Bankruptcy Code, 2016 and other rules and regulations framed thereunder, as amended from time to time.

IB Code means Insolvency and Bankruptcy Code, 2016 as amended from time to time.

IB Code means the Insolvency & Bankruptcy Code, 2016 as amended from time to time and rules/ regulations, etc. issued thereunder. INSPECTION: For inspection of documents, please contact the Liquidator at roofit@jitenderjain.com PAYMENT TERMS: Refundable Caution Money Deposit (CMD) must be paid into bank account of “Roofit Industries Limited (in Liquidation)” and submitted to the Auctioneer along with fully filled, signed and sealed Annexure - “A”, “B” , “Authority Letter” and “Affidavit” attached herewith. All the payments are to be made to “Roofit Industries Limited (in Liquidation)” by RTGS / NEFT / Cheque as per following details: Beneficiary Name Roofit Industries Limited (In Liquidation) Beneficiary Bank Name Kotak Mahindra Bank Limited Account No. 5012744812 IFSC KKBK0000669 Bank Branch Name CBD Belapur

IB Code or “IBC” means the Insolvency and Bankruptcy Code, 2016, the CIRP Regulations and other rules, regulations, circulars, notifications, other delegated legislations framed or issued thereunder, each as amended from time to time.