Sukrit Kapoor on India’s Push Towards a Group Insolvency Framework

Sukrit Kapoor, Partner at King Stubb & Kasiva, Advocates and Attorneys, emphasized the potential impact of the amendment, stating, “The introduction of a regulated mechanism for coordination of corporate insolvency resolution processes (CIRPs) of interconnected entities is a push towards the much desired but delayed group insolvency framework. This amendment, if it sees light of the day, will introduce a single RP for such group entities and enable the consolidated acquisition of assets in the Indian stressed assets market.”

This development, if implemented, is expected to streamline insolvency proceedings, reduce procedural delays, and facilitate better value realization for stakeholders by enabling a more comprehensive approach to restructuring interconnected businesses.

Article Link: https://www.business-standard.com/finance/news/ibbi-proposes-coordinated-insolvency-resolution-for-interconnected-entities-125020501177_1.html