The Insolvency and Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 yesterday.
According to the Amendments,
a. The Resolution Professional shall appoint two registered valuers to determine the fair value and the liquidation value of the corporate debtor. After the receipt of resolution plans, the resolution professional shall provide the fair value and the liquidation value to each member of the committee of creditors in electronic form, on receiving a confidentiality undertaking. The resolution professional and registered valuers shall maintain confidentiality of the fair value and the liquidation value.
b. The Resolution Pr…
Read the full article at: http://www.business-standard.com/article/government-press-release/amendments-to-the-insolvency-and-bankruptcy-board-of-india-insolvency-resolution-118020700810_1.html
