Ordinance puts no additional burden: M S Sahoo

Interview with the chairperson of Insolvency & Bankruptcy Board of India

M S Sahoo, chairperson, Insolvency & Bankruptcy Board of India (IBBI), shares with Veena Mani and Sudipto Dey the steps planned to streamline the insolvency resolution process. Edited excerpts:

Following the recent ordinance on banking regulation, is the IBBI adequately staffed and ready to take on new cases that may be filed at the NCLT?

The IBBI has two important roles, namely, writing rules about transactions (resolution and liquidation), and making insolvency professionals available. These two are fully in place. There is no additional burden on the IBBI on account of the Ordinance. More importantly, the transactions need to be completed