Informist, Monday, Nov. 17, 2025
NEW DELHI – The Insolvency and Bankruptcy Board of India Monday suggested that the committee of creditors of a company undergoing corporate insolvency process should mandatorily give reasons for recommending liquidation of the debt-ridden company if the resolution plan of value greater than liquidation value was received.
The reasons for such recommendation must be mandatorily recorded in the minutes of the meeting and furnished along with the liquidation application, said the board in a discussion paper for strengthening safeguards and transparency in the insolvency process. The board has invited comments from the stakeholders on its suggestions by Dec. 8.
The board noted that in…