Corporate Updates – 05-07-2017


The Insolvency and Bankruptcy Board of India invites comments from public on the 9 regulations notified under the Insolvency and Bankruptcy Code, 2016. The IBBI has evolved a transparent and consultative process to make regulations. It has been endeavor of the IBBI to effectively engage stakeholders in the regulation making process. The process generally starts with a working group making draft regulations. The IBBI puts these draft regulations out in public domian seeking comments thereon. It holds a few round tables to discuss draft regulations with the stakeholders. The IBBI invites comments from public, including the stakeholders and the regulated, on the 9 regulations already notified under the Code. The comments received between 4 th July, 2017 and 31st December, 2017 shall be processed together and following the due process, regulations will be modified to the extent considered necessary. It will be the endeavor of the IBBI to notify modified regulations by 31st March, 2018 and bring them into force on 1st April, 2018.

Employees’ State Insurance

The Employees’ State Insurance (“ESI”) Corporation has notified the amended Rules which may be called Employees’ State Insurance (General) Amendment Regulation, 2017. The amendment has been made to Regulation 31 of the Employees’ State Insurance (General) Regulations, 1950, by changing the due date for payment of ESI contribution from 21st of every month to 15th of every month. These Regulations and changes shall come into force with effect from the contribution payable for the month of June, 2017 i.e. by 15th July, 2017.

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