The Insolvency and Bankruptcy Board of India (IBBI) on May 04, 2023, issued a notice to seek comments from the public on the Regulations notified under the Insolvency and Bankruptcy Code, 2016.
The following has been stated: -
•Public consultation enables collective choice and hence plays an important role in the evolution of the regulatory framework.
•The participation of the public, particularly the stakeholders in the insolvency ecosystem ensures that the regulations are informed by the legitimate needs of those interested in and affected by the regulations. Therefore, keeping in view the above, IBBI invites comments from the public, including the stakeholders, on the regulations already notified under the Code till date.
•The comments received between May 04, 2023, and December 31, 2023, shall be processed together, and following the due process, regulations will be modified to the extent considered necessary.
•It will be the endeavor of the IBBI to notify modified regulations by March 31, 2024, and bring them into force on April 01, 2024.
•In order to provide comments in relation to any regulations under the IBBI, please visit the website of IBBI (Insolvency and Bankruptcy Board of India) and follow the instructions/illustration provided under the document.
Disclaimer: Please refer to the document to view the instructions and more details.
[Notification no. IBBI/PR/2023/05]
