IBBI open to innovative suggestions that can reduce delays, help in better recovery

Urging stakeholders for suggestions that can be incorporated in the policy to help reduce delays, Insolvency and Bankruptcy Board of India (IBBI) chairman Ravi Mital on Saturday said IBC has evolved over the years and NCLT has been approving over 35 resolutions a month, reducing delays.”Major objectives of IBC are not only recovery but revival and rehabilitation as well. It was always thought of as a resolution mechanism and not a recovery mechanism,” Mital said while addressing Assocham’s 8th National Summit on ‘Insolvency and Bankruptcy Code and Valuation’.

News Source:- https://www.financialexpress.com/business/industry-ibbi-open-to-innovative-suggestions-that-can-reduce-delays-help-in-better-recovery-3245712/