To streamline the corporate resolution process and prevent delay in implementation of the resolution plan, the Insolvency and Bankruptcy Board of India (IBBI) on Wednesday proposed amendments to some regulations.
The insolvency and bankruptcy board has proposed to structure the corporate resolution plan into two parts — inflow of funds and distribution to various stakeholders — under the Insolvency and Bankruptcy Code (IBC).
Amendments have been proposed to seven areas, that include approval of committee of creditors (CoC) for insolvency resolution process cost, monthly CoC meetings, discussion of valuation methodology and report with the CoC, and disclosure of the valuation reports.
According to an IBBI discussion paper, other a…
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