IBBI amends regulations; seeks to enhance discipline, transparency in insolvency process R

Seeking to enhance transparency in insolvency process, IBBI has amended regulations for corporate insolvency proceedings wherein a resolution professional will be required to provide details about his or her opinion about avoidance transactions pertaining to a corporate debtor. The Insolvency and Bankruptcy Board of India (IBBI) has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations. An official release on Wednesday said the amendments to the regulations are aimed at enhancing "the discipline, transparency, and accountability in corporate insolvency proceedings".

News Source:- https://economictimes.indiatimes.com/news/economy/policy/ibbi-amends-regulations-seeks-to-enhance-discipline-transparency-in-insolvency-process/articleshow/84609030.cms