IBBI Issues Directions w.r.t Reporting/Sharing of Information in the Voluntary Liquidation Process of FSPs
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- By Chetan Kulasri
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- Last Updated on 16 February, 2024
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IBBI Circular No. IBBI/LIQ/67/2024 dated 13.02.2024
The IBBI regulations allow the Financial Service Providers (FSPs) to undergo a voluntary liquidation process after obtaining prior permission of the appropriate regulator. However, some FSPs have commenced the liquidation without notification/prior permission. Therefore, IBBI has directed that liquidator shall declare that corporate person has obtained prior permission from the appropriate regulator. Further, the final report and dissolution order is to be shared with IBBI.
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