Insolvency and Bankruptcy Board of India (IBBI) signs a Memorandum of Understanding (MoU) with the Reserve Bank of India (RBI)

Posted On : April 09, 2018

In the 4th meeting of Insolvency Law Committee at New Delhi on March 12, 2018, The Insolvency and Bankruptcy Board of India signed a Memorandum of Understanding with Reserve Bank of India. The MoU was signed by Mr. Sudarshan Sen, Executive Director of the RBI and Dr. (Ms.) Mamta Suri, Executive Director of the IBBI in the august presence of Mr. Injeti Srinivas, Secretary to Government of India, Ministry of Corporate Affairs; Dr. M. S. Sahoo, Chairperson, IBBI and other distinguished Members of the Insolvency Law Committee (ILC).
Both the RBI and the IBBI are interested in the effective implementation of the Code and its allied rules and regulations, through a quick and efficient resolution process for reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of the value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders.

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