Besides, it was found that companies, in general, lack a proper documentation model83% of insolvency professionals opined that companies lacked this for both statutory register and non-statutory register.
By Neeti Shikha & Urvashi Shahi
Timely resolution proving elusive has become the biggest bottleneck in the corporate insolvency resolution process. Indeed, there is an inordinate delay from the adjudicating authority. But there are several other stages where the courts role is limited but are beset by constant delays. In our recent research of 25% of the companies (305 companies) that completed CIRP before March 2020, we found that availability of information and quality of information is one of the biggest challenges in attaining qui…
Read the full article at: https://www.financialexpress.com/opinion/corporate-insolvency-making-the-resolution-process-better/2197479/