IBBI invites comments on IBC regulations for reducing cost of compliance
This story was originally published at 19:45 IST on 8 April 2025
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NEW DELHI – The Insolvency and Bankruptcy Board of India has invited suggestions and comments from public and regulated entities on regulations under the Insolvency and Bankruptcy Code to simplify, ease and reduce the cost of compliance. The board said IBBI (Mechanism for Issuing Regulations) Regulations provide for the review of regulations every three years.
The regulations on which the board has invited suggestions include IBBI (Insolvency Professionals) Regulations, IBBI (Insolvency Resolution Process for Corporate Persons) Regulations and IBBI (Liquidation Process) Regulations.
The comments and suggestions could involve inconsistencies between the provisions within any regulation or difficulties in implementing the provisions. The last date for submission of public comments is Jun. 30.
The participation of the public and stakeholders in the insolvency ecosystem ensures that the regulations cater to the legitimate needs of those interested in and affected by the regulations, the board said. The stakeholders should also contemplate the important issues in the regulatory framework that hinder transactions and offer alternate solutions to address them, the board said.
The Budget for 2023-24 (Apr-Mar) had said that all financial sector regulators will be requested to carry out a comprehensive review of existing regulations to simplify, ease and reduce cost of compliance. End
Reported by Surya Tripathi
Edited by Saji George Titus
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