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All sick biz e-auctions to be centralized

Mint Mumbai

|

December 04, 2024

Auction of assets like land, buildings, plant and machinery belonging to businesses getting liquidated is likely to see a wider public participation, with the Insolvency and Bankruptcy Board of India (IBBI) planning to make these transactions more mainstream.

- Gireesh Chandra Prasad

All sick biz e-auctions to be centralized

After asking liquidators on 29 October to list all such assets of companies facing liquidation on the eBkray (now renamed as baanknet.com) platform set up by an alliance of state-run banks, IBBI is now considering making it compulsory to conduct auctions through this portal, two persons informed about the development said.

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