CORPORATE
CIRP Regulations: IBBI Proposes Key Changes
The proposed amendments to the CIRP Regulations address key aspects including cost reduction for smaller companies, guarantor liability, etc.
June 26, 2024
The proposed amendments to the CIRP Regulations address key aspects including cost reduction for smaller companies, guarantor liability, etc.
The changes introduced by the IBBI are significant in so far as they create a check and balance on critical areas of the liquidation process.
IBBI’s new measures seek to pave the way for the efficient conduct of processes by IPs and facilitate IPEs to undertake activities of an IP.
In this article, we elaborate on the 16 proposals presented by the IBBI in its discussion paper, to strengthen the liquidation process.