ISO 9001:2015 Certified
closex Call Us 11-23320714, 23721504,

 Upcoming Event
to forge a partnership on Technology Commercialization Initiative, FICCI-AMITY and IC2 Institute University

IBBI working on group insolvency norms: MS Sahoo 

The Economic Times , Sep 11, 2018

Insolvency and Bankruptcy Board of India (IBBI) chairman MS Sahoo Tuesday said the process of putting in place the norms on group insolvency is underway.

"The work has started on group insolvency norms, but I will not be able to give a timeline as to when it will be finalised," Sahoo told reporters on the sidelines of a capital market conference organised by the industry lobby FICCI here.

The IBBI is also working on a framework for cross- border insolvency cases.

Sahoo said the government has already put out a paper on insolvency and a committee is examining the comments received on the draft paper.

"There is an insolvency law committee that is examining the comments. Based on that it will submit the report and thereafter government will take a call on the norms on cross-border insolvency cases," Sahoo said.

He expressed happiness on the outcome of cases undergoing insolvency procedures so far. "I am happy with the outcome so far. Our experience is we are getting up to 60 per cent of the liquidation value and that is a very good outcome."



Also Read

As the market grows, we need greater governance norms to keep the faith and trust of investors: SEBI Chairman Ajay Tyagi

We're for ensuring clean, safe markets: SEBI chief     

Won't allow market weakness to be leveraged, says Sebi chairman Ajay Tyagi     

Sebi chief calls for high standards of governance     

Sensex crash: Manipulators will not be allowed to take advantage, says Sebi     

Sebi upgrading own technology, says Tyagi     

Expect more Sebi action for a safer market: Tyagi     

'Bond market needs a push from regulators'     

Sebi calls for bigger, cleaner & safer markets     

IBBI working on group insolvency norms: Chairman MS Sahoo     

Sebi pitches for bigger, cleaner, safer markets     

Market regulator SEBI calls for bigger, cleaner & safer markets     

Rupee depreciation not a cause of worry, says Rashesh Shah of Edelweiss     

Capital markets need greater governance norms to keep faith of investors: Ajay Tyagi     


 15th Annual Capital Market Conference #CAPAM2018