IBBI, established in October 2016 under the IBC, has regulatory oversight over the insolvency professionals/agencies/entities and information utilitiesThe Insolvency and Bankruptcy Code (IBC), 2016, will soon have provisions dealing with individual insolvency and bankruptcy, said MS Sahoo, chairman of Insolvency and Bankruptcy Board of India (IBBI). Sahoo on Friday said the first priority would be the regulations specifically relating to guarantors to corporate debtors or personal guarantors.
Responding to a question on a timeline for the insolvency and bankruptcy resolution processes of individuals and firms, Sahoo said: That will take a little time. Preparedness is on. Wont be able to give a deadline but work is on. He was speaking at a…
Read the full article at: https://www.financialexpress.com/industry/insolvency-process-ibc-to-have-provisions-dealing-with-individual-insolvency-says-ibbi-chairman/1489195/