The Insolvency and Bankruptcy Board of India’s (IBBI) recent discussion paper of 4-2-2025 on “Streamlining Processes under the Code: Reforms for Enhanced Efficiency and Outcomes” demonstrates a commitment to address operational challenges in the insolvency resolution process.1
It touches upon several important issues in making the Insolvency and Bankruptcy Code, 2016 (IBC)2 more robust, viz:
(1) Review of expenditure on goods and services availed during corporate insolvency resolution process (CIRP).
(2) Coordinated insolvency resolution for interconnected entities.
(3) Presentation of all resolution plans before the Committee of Creditors (CoC).
(4) Mandatory submission of statement of affairs by corporate debtors.
(5) Reliefs…
