 "industry, ibc, pli, bankruptcy")
Further it will also include, the status of any property that remains to be sold, distributions to stakeholders, and the distribution of unsold property to stakeholders.
The IBBI has issued a new format for the submission of progress reports during liquidation process, as mandated by (liquidation process) norms, and sought stakeholder inputs by July 12.
The initiative will ensure a standardised and streamlined approach to reporting, benefitting both insolvency professionals and adjudicating authorities. Also, it will ensure consistency and clarity across all submissions.
“To streamline the process and ensure uniformity in the structure of these reports filed by the liquidato…
Read the full article at: https://www.business-standard.com/companies/news/ibbi-releases-liquidation-progress-report-format-seeks-stakeholder-inputs-124062300558_1.html