Resolution Professionals Ordered to Swiftly Upload Judicial Orders for Enhanced Bankruptcy Process Transparency

The Insolvency and Bankruptcy Board of India (IBBI) has mandated resolution professionals to promptly upload judicial orders on a designated portal. This measure aims to ensure the timely dissemination of crucial court rulings to stakeholders involved in ongoing bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC). The uploaded orders will include those related to the acceptance of bankruptcy petitions, corporate rescue plan approvals, liquidation orders, and significant high court and Supreme Court decisions. Additionally, orders concerning the interpretation of law, the scope of authority of relevant codes, and the application of the bankruptcy code must also be uploaded. This initiative is part of a broader effort to improve information sharing and efficiency within the bankruptcy ecosystem, ultimately leading to better outcomes in debt resolution.

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