New Delhi: It is unlikely that the draft regulations for insolvency professionals, once finalized, will see many changes, despite concerns many practitioners have raised.
A ministry of corporate affairs official, declining to be identified, said that the draft rules are well thought out and incorporate concerns outlined by the industry, an indication that these rules may not see considerable change.
The insolvency and bankruptcy board is likely to finalise the draft regulations this month. Last month, the government issued six draft regulations under the bankruptcy code which were put out for public comments till 31 October.
Experts and practitioners in the field have highlighted issues related to the criteria for appointment…
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