The focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company, an IBBI official said on Saturday.The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC).
Speaking at an event organised by industry body Assocham, IBBI Executive Director Santosh Kumar Shukla said it is a joint effort of all the stakeholders and not only insolvency professionals for the revival of companies under financial stress.
“While we need to give full credit to the role and the responsibility of the insolvency professionals, while working out a resolution package, the other stakeholders like the commi…
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