IBBI, IBA to launch centralised platform for liquidation asset auctions

Quick Summary:

Initially, the platform will be deployed in pilot mode, with a full rollout planned at a later date after incorporating improvements based on usage feedback.

Information on a company’s assets is disclosed only when the auction notice is issued.

Currently, liquidators in various liquidation processes sell assets through multiple auction platforms.

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Article Details

Category: BusinessFinance

Markets: India

Topics: SARFAESI Act Asset recovery Jyoti Prakash Gadia PSB Alliance Private Limited EBKray platform Resurgent India IBBI Insolvency and Bankruptcy Code Asset liquidation Corporate debt liquidation IBC Asset auctions Insolvency and Bankruptcy Board of India Indian Banks Association Transparency in auctions

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 15:06:59 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 424 words

Reading Time: 3 minutes read

Sentences: 16 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23336931

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