- The change seeks to eliminate a potential conflict of interest that insolvency professionals in charge of steering a company through the bankruptcy process could have if any of their colleagues advise others involved in the case.
By Gireesh Chandra Prasad, Livemint, New Delhi
PUBLISHED ON JUL 17, 2021 12:10 AM IST
Insolvency resolution professionals hired by lenders to rescue bankrupt companies cannot continue in that role if any of their colleagues represent any of the parties in that case, says a new rule brought out by the Insolvency and Bankruptcy Board of India (IBBI).
The change seeks to eliminate a potential conflict of interest that insolvency professionals in charge of steering a company through the bankruptcy proces…
Read the full article at: https://www.hindustantimes.com/business/new-restrictions-on-insolvency-resolution-professionals-101626459895705.html
