The first set of insolvency regulations relating to corporate guarantors and individual businesses that include proprietorships and firms may be notified by December.
According to Ranjeeta Dubey, Deputy General Manager, Insolvency, and Bankruptcy Board of India (IBBI), the notification of rules and regulations for the other phases are expected to come in later.
Speaking at the Merchants' Chamber of Commerce and Industry in Kolkata on October 3, she said "There will be a phase-wise implementation of insolvency regulations relating to individuals and firms. The rules are being firmed up." The draft rules were put on the board's website for public comments, with a deadline of October 31, she added.
IBBI says more insolvency reforms on cards
By IndianMandarins - 2017-11-05 09:41:07
The first set of insolvency regulations relating to corporate guarantors and individual businesses that include proprietorships and firms may be notified by December.
According to Ranjeeta Dubey, Deputy General Manager, Insolvency, and Bankruptcy Board of India (IBBI), the notification of rules and regulations for the other phases are expected to come in later.
Speaking at the Merchants' Chamber of Commerce and Industry in Kolkata on October 3, she said "There will be a phase-wise implementation of insolvency regulations relating to individuals and firms. The rules are being firmed up." The draft rules were put on the board's website for public comments, with a deadline of October 31, she added.
