The norms for fast track insolvency proceedings have been tweaked wherein both fair value and liquidation value need to be assessed for the entity concerned.
Under fast track mode, the resolution process is to be completed in 90 days.
The Insolvency and Bankruptcy Board of India (IBBI) has amended the Fast Track Insolvency Resolution Process for Corporate Persons.
The board has already revised the norms pertaining to insolvency resolution process for corporate persons. Under this category, the proceedings have to be completed within a maximum of 270 days.
Following the amended norms, the resolution professional have to appoint registered valuers to determine the fair as well as the liquidation value of the corporate debt…
Read the full article at: http://www.moneycontrol.com/news/business/norms-tweaked-for-fast-track-insolvency-resolution-process-2503807.html
