IRP/RP Mandates to Operate Separate Bank Accounts for Real Estate Projects: IBBI notifies new Regulations [Read Notification]

Newly inserted regulation mandates the operation of a separate bank account for each real estate project by the interim resolution professional or resolution professional
By Navasree A.M - On February 19, 2024 11:06 am - 2 mins read
IBBI - Insolvency and Bankruptcy Board of India - IBBI New Regulations Real Estate - IRP RP Bank Account Mandate - Taxscan

The Insolvency and Bankruptcy Board of India ( IBBI ) has introduced amendments to the Insolvency and Bankruptcy Board of India ( Insolvency Resolution Process for Corporate Persons ) Regulations, 2016. These amendments aim to enhance the efficiency and transparency of the insolvency resolution process. Here’s a breakdown of the key changes: Separate Bank Account…

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