In a notice, the ministry also said its seeking to tweak the rules on the application to the adjudicating authority, the annual statement of accounts and the annual report rules, as stipulated by the Insolvency and Bankruptcy Board of India (IBBI). The notice has been uploaded on the IBBI website.
MCA invites public comments on seven crucial rules under IBC thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Operational creditors may get relief financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
Data available from IBBI showed that from 2016 (when IBC became operational) to December 2023, bankruptcy resolution plans were approved for 891 companies