NEW DELHI: The liquidation value of a company undergoing insolvency proceedings will be kept confidential, a change that seeks to maximise the realisation for creditors.The Ministry of Skill Development & Entrepreneurship, which funds the sector skill councils through the National Skill Development Corporation, has told them to ensure that their industry partners provide jobs to people who have been trained and that these numbers must be reflected on the smart portal created for the purpose,
The Insolvency and Bankruptcy Board of India (IBBI) has amended the regulations to provide for this confidentiality. “As per the Amendments, it is not necessary to disclose ‘liquidation value’ in the information memorandum,” the governme…
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