Code and the Regulations simplified

When I started knowing something about Code, I was confused on number of issues. The main confusing issues were:

What is the difference between Act provisions and the Regulations and the Rules.
Not able to fathom as to why there should have been the need to provide for Regulations side by side the Act provisions and the Rules.

However, after months of concentrated studies, I could understand something.

But in between Regulations kept on changing and different decisions of Supreme Court forced the Government to make some changes in the Act itself.

So I thought I should share with you the way I decided to know the different facets of the Code.

The first method was to have a go at different provisions, regulations and the rules as also the guidelines issued by IBBI.

Thereafter , I decided to concentrate on specific provisions relating to Corporate Insolvency Resolution Process. I took the help of ” Power Point ” provided by Microsoft and below are the links that you can access to know something more about the provisions. For the sake of all of us, I quote below the links which will take us through the different slides quoting different provisions of the Act as also the Regulations. The slides are for educational purpose only and no blind reliance is expected on the material placed in this part of the website. Lastly the highlighted words, paras —-they are my creation — are only intended to underline the importance of a particular provision in the Act / Regulation –so that I understand the importance of such words / provisions. Of course not a single word is changed from the official document detailing the Act and the Regulations. For any clarification, I solicit sole reliance on the Board’s website . This website gives the latest information about the changes in the Act / Regulations as also issues guidelines from time to time.

Section 01 to Section 03 [ Definitions applicable to entire Code ]

Section 04 to Section 05 [ Definitions pertaining to Part II–CIRP & Liquidation ]

Section 06 to Section 32 [Corporate Insolvency Resolution Process]

Section 33 to Section 54 [ Liquidation Process ]

Section 55 to Section 58

Section 59

Section 60 to Section 67

Section 68 to Section 77

Section 78 to Section 93

Section 94 to Section 120

Section 121 to Section 148

Section 149 to Section 178