NEW DELHI: The bankruptcy regulator has amended the framework for reporting the corporate insolvency resolution process (CIRP) to ease compliance burden without undermining effective oversight, according to a circular.
Under the revised reporting framework, the existing nine forms will be compressed into five by removing duplication, streamlining data requirements and leveraging technology for auto-population of information, the Insolvency and Bankruptcy Board of India (IBBI) said in the circular dated May 26.
The regulator has introduced a standardised monthly reporting cycle, replacing the current system of multiple event-based due dates during the month, it said.
The changes have been incorporated by amending the IBBI (Insolvency…
