New Delhi, Aug 27 (KNN) The Insolvency and Bankruptcy Board of India (IBBI) has put forward a significant amendment to corporate insolvency regulations, specifically targeting support for micro, small, and medium enterprises (MSMEs).
This move comes as part of ongoing efforts to streamline the insolvency resolution process and create a more inclusive environment for smaller businesses.
The proposed change would require corporate debtors to disclose their MSME status at the outset of the resolution process. This disclosure is expected to have far-reaching implications for the insolvency landscape in India.
“The proposed amendment is expected to reduce information asymmetry in the resolution process for MSMEs,” the IBBI…
