New Delhi, Feb 3 (PTI) The Insolvency and Bankruptcy Board has amended regulations on liquidation process to streamline the auction procedure, improving reporting requirements, and ensuring better fund management.
The amendments, notified on January 28, 2025, with immediate effect, modify the Insolvency and Bankruptcy Board of India (Liquidation Process) regulations, 2016, and the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) rules, 2017, according to release.
These measures will strengthen transparency, efficiency, and accountability in the insolvency framework.
Under the revised framework, the prospective bidders in the liquidation auction…
