Corporate insolvency. IBBI proposes mandatory audit of insolvency resolution process costs

The Insolvency and Bankruptcy Board of India (IBBI) proposes to stipulate a mandatory audit of insolvency resolution process costs (IRPC) in cases where the assets of the corporate debtor exceed ? 100 crores. This proposal forms part of the nine new measures that the IBBI has mooted in a new discussion paper that has been floated to increase the possibility of resolution, the value of resolution, and enable timely resolution.

In this context, The Hindu businessline has published an article, Insolvency regulator proposes mandatory audit of costs incurred in resolution process  where Mukesh Chand, Senior Counsel, Economic Laws Practice (ELP) have shared his views.

The article can be read here: Click Here