Photo: Indranil Bhoumik/MintNew Delhi: Insolvency resolution process seeks to ensure that a company exists and the intention is not to sell it in pieces, Insolvency and Bankruptcy Board of India (IBBI) chairperson M.S. Sahoo said on Wednesday as he asserted that liquidation is anti-thesis of resolution. Against the backdrop of many companies going for liquidation, Sahoo said that when a new legislation comes, there are legacy issues and backlog of problems. When you talk about resolution, you don’t talk about (selling),” the IBBI chairperson said in New Delhi. He was speaking at an interactive session with insolvency professionals and media about the new disclosure norms put in place for insolvency professionals.

Source: Mint January 31, 2018 14:15 UTC