The Insolvency and Bankruptcy Board of India (IBBI) proposed several changes to liquidation regulations, including a review of the auction process and voluntary liquidation regulations, in a discussion paper on Tuesday. The proposed amendments to the IBBI (Liquidation Process) Regulations, 2016, and IBBI (Voluntary Liquidation Process) Regulations, 2017 aim to streamline the liquidation process under the Insolvency and Bankruptcy Code (IBC) by addressing timely appointment of liquidators, expeditious completion of voluntary liquidation process and enhancing management of corporate liquidation account. "These measures are expected to enhance overall process efficiency, increase stakeholder confidence, and lead to better financial outcomes for all parties involved," it said.