Kolkata : The rules of the new insolvency regulations to bring individual businesses under its purview are likely to be in place soon, an official of the Insolvency and Bankruptcy Board of India (IBBI) said on Friday.
“The rules and regulations for the first phase for Insolvency Regulations for Individuals and Firms is expected to be in place by December this year,” IBBI DGM Ranjita Dubey said. The draft rules dealing with insolvency resolution process of individuals and firms was put on the website for public comments with a deadline of 31 October.