IBBI Issues Discussion Paper on Strengthening the Liquidation Process
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- By Chetan Kulasri
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- Last Updated on 25 October, 2023
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Discussion Paper; Dated: 20.10.2023
To further strengthen the regulatory framework of the liquidation process in terms of accountability of the liquidator towards stakeholders, the IBBI has issued a discussion paper on “Strengthening the Liquidation Process”. The key proposals include the mandatory holding of a meeting of the Stakeholders Constitution Committee (SCC), mandating the liquidator to place a reason for liquidation costs exceeding estimates of liquidation cost before SCC etc.
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