The public can now help modify the regulations already put in place by the insolvency regulator Insolvency and Bankruptcy Code of India (IBBI) during the last five years since the enactment of the Insolvency and Bankruptcy Code (IBC).
The regulator has now resorted to crowdsourcing of ideas to understand the important issues in the extant regulatory framework that hinder transactions and has sought alternative solutions to address them. This window will be open for comments from the public, including stakeholders, between June 17 and December 30 and the regulator intends to notify modified regulations by March 31 next year and bring them into force from April 1.
Such an exercise is seen as noteworthy by stakeholders of the insolvency ec…
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