RegulatorIBBI has amended corporate insolvency resolution process norms, including making it compulsory to have separate accounts for each real estate project undergoing resolution and enabling the creditors’ committee to constitute a monitoring panel to oversee implementation of the resolution plan. “With an aim to increase transparency and reduce disputes over valuation-related issues, the amendment provide for explaining the valuation methodology to the members of the CoC (Committee of Creditors) before the computation of estimates,” as per the revised norms.
The Insolvency and Bankruptcy Board of India (IBBI) also said that fair value may be made part of the information memorandum to foster informed participation in the process. The …
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