Ravi Mital, president of IBBI
IBBI President Ravi Mital on Tuesday called on insolvency practitioners to be as transparent as possible during the resolution process as that will help improve offers and reduce haircuts.
Speaking at a conference organised by the Indian Institute of Insolvency Professionals ICAI (IIIPI) in the national capital, he said that insolvency professionals and insolvency professional bodies are the fulcrum of the insolvency system.
While stressing that insolvency practitioners need to be mindful of timelines and delays, Mital said, “One needs to be as transparent as possible during the bidding process. This will improve bidding, reduce cutbacks and improve the image of the IBC ecosystem,” according to a statement issued by IIIPI.
The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in the implementation of the Insolvency and Bankruptcy Code (IBC).
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First published: September 17, 2024 | 21:42 IS
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