December 25, 2024 06:46 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Former home secy Ajay Kumar Bhalla appointed Manipur Guv amid ethnic violence resurgence | Five soldiers killed, several injured as Army truck falls into Poonch gorge | Allu Arjun quizzed by police in Pushpa 2 stampede case | Wanted Indian drug smuggler killed in the US | Congress leader files complaint against Allu Arjun for 'insulting police' in Pushpa 2: The Rule | Ahead of Jaishankar's US visit, foreign secretary Vikram Misri meets top US diplomats | India refrains from commenting on extradition request for ousted Bengladeshi PM Sheikh Hasina | I don't blame Allu Arjun, ready to withdraw case: Pushpa 2 stampede victim's husband | Indian New Wave Cinema Architect Shyam Benegal dies at age 90 | Cylinder blast at a temple in Karnataka's Hubbali injures nine people
IBBI

India's bankruptcy regulator seeks views on cutting red tape to help resolution professionals

| @indiablooms | Jun 12, 2024, at 05:16 pm

New Delhi/IBNS: India's bankruptcy rule-maker, the Insolvency and Bankruptcy Board of India (IBBI), said that it is planning to reduce the compliance burden of debt resolution professionals so that they can concentrate on stitching together rescue plans for companies under their supervision.

The IBBI said in a discussion paper on lowering the compliance burden of these professionals that the idea is to reduce the number of forms and volume of information that resolution professionals have to submit and to make the reporting process simpler and efficient.

According to reports, the IBBI has sought public feedback on its suggestions by July 1.

The bankruptcy rule-maker said its enhanced data capture capabilities, particularly creation of a portal, needs to be leveraged to simplify and optimize the forms to be filled by professionals, as per reports.

The IBBI added that there will be a special emphasis on removing duplication, making the reporting process simpler and more efficient.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.