The Society of Insolvency Practitioners of India held a round-table last month where they deliberated the shortcomings of the Liquidation Regulations, 2016.
Participating members comprised representatives from Insolvency and Bankruptcy Board of India, senior partners from leading law firms, representatives from State Bank of India, insolvency professionals and stakeholders. The key concern, according to a research paper by the society, is the neglect of secured financial creditors in the liquidation process.
If, after undergoing the insolvency process under the Insolvency and Bankruptcy Code, no resolution plan has been accepted within the stipulated time by the committee of creditors, the insolvent company is automatically and compulsoril…
Read the full article at: https://www.bloombergquint.com/insolvency/include-creditors-in-the-liquidation-process-also-sipi-recommends
