Monday 20 January 2020
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business-standard - 1 month ago

IBBI will ensure regulations are grounded on realities , says Sahoo

Emphasising that the insolvency law provides a new lifeline to save a company from premature closure, IBBI Chairperson M S Sahoo has said the board will continue with efforts to develop best practices and ensure that regulations are grounded on realities . More than three years after implementation of the Insolvency and Bankruptcy Code (IBC), which has brought in significant behavioural changes among the stakeholders, he said there are early evidences of the Code delivering better outcomes than the erstwhile similar frameworks. The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the insolvency ecosystem. The Code provides for time-bound and market-linked Corporate Insolvency Resolution Process (CIRP). The Code has undergone various amendments and the recent Supreme Court verdict in Essar Steel case has provided clarity about various aspects, including the roles of resolution professional, resolution applicant and Committee of Creditors (CoC). When asked ...


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