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Ibbi modifies the regulation on the voluntary liquidation process


The Board of Insolvency and Bankruptcy of India (IBBI) has amended the regulations relating to the voluntary liquidation process as part of efforts to streamline the process.

Anoop Rawat, Partner (Insolvency and Bankruptcy) at Shardul Amarchand Mangaldas & Co, said the amendment aims to streamline the voluntary liquidation process by reducing delays and placing greater responsibilities on the liquidator.

“The new Form H requirement eases some of the burden on contracting authorities, with the relevant data and satisfaction of compliance checks being made available to them in a structured table.

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“This will help to further enhance freedom of exit for investors in line with India’s ambitious goals of making it easier for investors to conduct business during all phases of the business life cycle,” Rawat said.

IBBI, a key institution in the implementation of the Insolvency and Bankruptcy Code (IBC), has notified changes to the regulation of the voluntary liquidation process.

(Edited by : Jomy Jos Pullokaran)

First post: STI


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