IBBI Proposes that RPs Must Conduct Monthly Meetings of CoC to Review Work of the CIRP
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- By Chetan Kulasri
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- Last Updated on 4 November, 2023
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IBBI’s discussion paper on amendments to ‘Insolvency Resolution Process for Corporate Process‘, Dated: 01.11.2023
The IBBI has released a discussion paper on amendments to the IBBI (Insolvency Resolution Process for Corporate Process) Regulations, 2016. Some of the key proposals include
(a) seeking approval of the CoC for insolvency resolution process cost
(b) conducting monthly meetings of the CoC to review the work of CIRP by the CoC
(c) discussing valuation methodology and report with the CoC
(d) disclosing valuation reports, and
(e) providing clarity in minimum entitlement to dissenting financial creditors.
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