E BIDDING TO SPEED UP TO SUPPORT THE TIME BOUND INSOLVENCY PROCESS UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016

This initiative taken by the government aims at introducing a shorter, time bound, online financial bidding process in corporate insolvency process under the Code of 2016- this in turn will ensure the timeline as proscribed under the Code to be followed at all times, will improve transparency and also will reduce unnecessary litigation. Current scenario The bidding process which is