IBBI mandates enhanced disclosure of carry forward losses for resolution professional, ET LegalWorld

Highlights The Insolvency and Bankruptcy Board of India has mandated that the Information Memorandum must disclose the carry forward of losses as per the Income Tax Act, 1961, enhancing the transparency and comprehensiveness of the insolvency process. Insolvency Professionals are now required to conduct thorough financial and tax analyses to accurately capture the details of…