Key proposals of this proposed amendments include:
- Requiring a registered valuer to submit a valuation report for the Corporate Debtor (CD) as a whole and aligning regulations with Valuation Rules to avoid inconsistencies;
- Permitting a single valuation estimate for companies with assets up to Rs. 1000 crore and for MSMEs, with the option for the Committee of Creditors (CoC) to request a second valuer;
- Allowing the authorized representative of creditors to participate in meetings before official appointment by the Adjudicating Authority;
- Also clarifying that the resolution plan should not release guarantors from their liabilities.
Members are requested to share their comments by July 8, 2024 with Deepak Joshi at djoshi@usinfoundation.org or Divdrisht Singh at dsingh@usinfoundation.org
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