 "IBC, insolvency, bankruptcy")
In order to bring more transparency to the liquidation process, the Insolvency and Bankruptcy Board of India (IBBI) has proposed that all significant matters concerning liquidation be discussed with the stakeholders consultation committee.
The proposed amendments to the Liquidation regulations have been made as the need was felt to enhance the accountability of the liquidator by making consultations with the stakeholders committee mandatory to cover a range of issues. Some of these include appointment of professionals, and sale of assets including fixation of reserve price. IBBI said this would improve stakeholders’ confidence and participation in the process, lead to effective supervision
