‘IBBI to adapt to changing scenario’
The Insolvency and Bankruptcy Board of India (IBBI) has adapted itself to the new environment in the wake of the coronavirus pandemic and will strive to provide a ‘malleable regulatory framework’ within the confines of the insolvency law, according to its Chairperson M.S. Sahoo.
A key institution in implementing the Insolvency and Bankruptcy Code (IBC), the IBBI has moved to the electronic mode for most of its engagements with stakeholders and has recalibrated important regulations.
Mr. Sahoo emphasised that the IBBI would remain vigilant and prepared to take on the challenges and adapt to requirements of the emerging scenario.
“It will strive to provide a malleable regulatory framework within the confines of the Code, build the capacity of insolvency professionals and other constituents, and promote best practices.
“It will continue its engagement with the stakeholders to ensure insolvency reform remains a reform by the stakeholders, for the stakeholders and of the stakeholders,” Mr. Sahoo told PTI.