Insolvency regulator IBBI has come up with slew of proposals to ensure timely resolution and higher realisations in corporate insolvency resolution process (CIRP).
The measures outlined in a new IBBI discussion paper include seeking CoC approval for operational expenses, holding regular CoC meetings (mandatory monthly meeting), holding deliberations on valuation methodology and disclosure of fair value in Information Memorandum.
Other proposals
The other proposals of Insolvency and Bankruptcy Board of India (IBBI) are providing clarity in the payout to dissenting financial creditors and segregating the distribution of plan value from plan implementation.
Public comments have to be submitted by November 22, IBBI has said.
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