Insolvency and Bankruptcy Board of India sets up online platforms amid Covid curbs
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Synopsis
The move will likely unlock big opportunities amid lockdown restrictions. This will likely make life easy for both investors and lenders dealing in thousands of crores of rupees.
Agencies
An outbreak of novel coronavirus is believed to have cut the pace of insolvency resolution processes amid administrative restrictions.
The Insolvency and Bankruptcy Board of India (IBBI) is setting up two online platforms for selling distressed assets under Insolvency and Bankruptcy Code, opening up markets for soured debt involving resolution plans, interim finance and liquidation assets.