Insolvency board IBBI on Tuesday issued a discussion paper to provide clarity on various operational aspects including those related to coordinated resolution of interconnected entities and streamlining of submission of resolution plans. The paper proposes several amendments to address operational challenges in the resolution framework. The IBBI has invited public comments on the discussion paper till February 25 through its website. In the discussion paper, the Insolvency Bankruptcy Board of India (IBBI) said, one of the major proposals is to strengthen the Committee of Creditors (CoC) decision-making process by mandating regular review of operational expenses, particularly leased properties.
This resolution would be required to…
