Discussion Paper; Dated: 04.02.2025
IBBI has released a discussion paper on streamlining various processes under the IBC to enhance their efficiency, transparency, and effectiveness. The IBBI has proposed amending CIRP regulations to strengthen the CoC decision-making process by mandating a regular review of operational expenses during the CIRP, especially w.r.t leased property. Also, IBBI has proposed to mandate the submission of a Statement of Affairs by the corporate debtor. Comments may be submitted by February 25, 2025.
Click Here To Read The Full Update
The post IBBI Releases Discussion Paper on Streamlining Various Processes Under IBC for Enhanced Efficiency and Transparency appeared first on Taxmann Blog.