News & Media 21st Mar 2024
Gireesh Chandra Prasad from LiveMint writes on writes on “?IBBI’s cost tweak: The case for and against” with insights in detail from our Senior Counsel Mukesh Chand over IBBI’s latest move requiring resolution professionals to get advance approvals for costs needed to keep a bankrupt company alive.
Mr. Chand says, “Although, an additional step, now explicitly outlined in regulations, it signifies a crucial shift towards pre-approval, aimed at averting scenarios where exorbitant operational expenses devouring the resolution corpus, leaving little for stakeholders”.
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