New IBBI Rules Ease Compliance for Corporate Bankruptcy Cases

The Insolvency and Bankruptcy Board of India (IBBI) has revamped the reporting and monitoring of corporate bankruptcy proceedings to cut red tape, enable automatic filling of electronic forms, and ease compliance burden, showed an official order.

- Gireesh Chandra Prasad

IBBI has been taking steps to improve the efficiency of debt resolution, cut down delays, and seamlessly make information about the resolution process available to stakeholders. The government is also building a tech platform that will connect all stakeholders involved in bankruptcy resolution, including tribunals, creditors, and policymakers.