Include more details of carry forward losses in IM: IBBI
The Insolvency and Bankruptcy Board of India (IBBI) has tightened disclosure requirements for Insolvency Professionals (IPs), mandating them to include comprehensive details of carry forward losses in the Information Memorandum (IM) prepared during corporate insolvency resolution processes. In a directive issued under Section 196 of the Insolvency and Bankruptcy Code, 2016, the IBBI has asked…