IBBI Releases Discussion Paper on Streamlining Various Processes Under IBC for Enhanced Efficiency and Transparency
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- By Chetan Kulasri
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- Last Updated on 11 February, 2025
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Discussion Paper; Dated: 04.02.2025
IBBI has released a discussion paper on streamlining various processes under the IBC to enhance their efficiency, transparency, and effectiveness. The IBBI has proposed amending CIRP regulations to strengthen the CoC decision-making process by mandating a regular review of operational expenses during the CIRP, especially w.r.t leased property. Also, IBBI has proposed to mandate the submission of a Statement of Affairs by the corporate debtor. Comments may be submitted by February 25, 2025.
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