The Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper on Tuesday, addressing various operational challenges within the insolvency resolution framework. The paper proposes key amendments to improve processes, particularly the coordinated resolution of interconnected entities and the submission of resolution plans. Public feedback on the paper is invited until February 25 through the IBBI website.
One of the major proposals is to enhance the decision-making process of the Committee of Creditors (CoC) by mandating regular reviews of operational expenses, especially related to leased properties. Under the proposed changes, the resolution process would be required to present a thorough assessment of significant…
