IBBI’s proposal for enhancing resolution framework
On 6 August 2025, IBBI issued a ‘Discussion Paper - Measures to enhance integrity of the Corporate Insolvency Resolution Process (CIRP)’ (Discussion Paper) with the intent to have the members of the committee of creditors (CoC) play an active role in ensuring compliance with statutory mandates including eligibility criteria under Section 29A of the Code, disclosures regarding beneficial ownership and applicability of Section 32A of the Code.