About Clasis Law

Clasis Law is one of the leading full-service Indian law firms which provide speedy services while upholding the law and following every regulation in the book. The firm is recognized as highly professional and process-driven, with the necessary systems and infrastructure to provide hassle-free services to clients. It has an established capability and operational ability to advise clients across borders through its vibrant network of international law firms located around the globe, including in some of the most difficult jurisdictions in the world. The firm's clients range from Fortune 500 companies to SMEs and small businesses. In addition, it provides specialized services to international SMEs that choose India as their preferred investment destination.


IBBI (Voluntary Liquidation Process) (Amendment) Regulations, 2022

The Insolvency and Bankruptcy Board of India on 05th April, 2022 has notified IBBI (Voluntary Liquidation Process) (Amendment) Regulations, 2022, wherein the principal regulations ‘Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017’ has been amended to include amendment in regulation 37 of the principal regulations stating that the liquidator shall endeavour to complete the liquidation process of the corporate person and submit the Final Report under regulation 38 within (a) two hundred and seventy days from the liquidation commencement date where the creditors have approved the resolution under clause (c) of sub-section (3) of section 59 or clause (c) of sub-regulation (1) of regulation 3; (b) ninety days from the liquidation commencement date in all other cases. Apart from the amendment in regulation 37, the amended regulations have provided other amendments which can be accessed at the enclosed pdf document. The said amendment regulations shall come into force on the date of their publication in the Official Gazette.

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