Digital Monitoring of Liquidation process
Digital Monitoring of Liquidation process
IBBI, by the Circular dated 28.6.2024, has now directed that Liquidator shall file Forms through electronic platform. IBBI has introduced online submission of electronic forms to ease compliance burden of the Insolvency Professionals, to reduce delays and enhance efficiency, transparency, to expedite liquidation process and to eliminate errors. Now, liquidation process will be expedited at the earliest.
The forms are crucial for liquidation process under IBC for seamless reporting and record keeping. At present, the forms of liquidation process are submitted through emails. This process was time consuming, resulting in errors and inefficient causing delay in liquidation process.
2024-06-28-175739-sorm2-a774e476af9744be8fb954b45ef5785b.pdf (ibbi.gov.in)
