Delays in admission process continue to be a challenge in insolvency cases says IBBI Chairperson

Ravi Mital, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI), addressed the ASSOCHAM Industry Roundtable Interaction on Insolvency and Bankruptcy Code (IBC) and Stressed Assets as the Chief Guest yesterday. Mital noted that delays in the admission process continue to be a challenge in insolvency cases. He stated that the new framework is aimed at making resolution faster and more efficient without compromising the rights of stakeholders. He further observed that India is moving closer to practices followed in other economies, where insolvency matters are handled with greater speed and effectiveness. He also called upon consultants, advisors, bankers, and creditors to take an active role in this transition, contribute to confidence-building, and support the development of a stronger insolvency framework for the future.

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