The record
Written from the 1 report below. Nothing here is unsourced.
- The Insolvency and Bankruptcy Board of India issued new directives for resolution professionals to identify potential manipulation of the insolvency process.
- These guidelines follow controversy surrounding a large-scale loan settlement case involving Zee TV.
- Professionals are now expected to conduct deeper due diligence to detect indicators such as pre-initiation debt assignments and attempts to evade regulatory scrutiny.
- This move aims to increase transparency and ensure the insolvency framework is not used for unauthorized purposes.
What to watch next
- Increased regulatory scrutiny on insolvency proceedings
- Impact of new guidelines on the speed of insolvency resolutions
- Further legal developments in the Subhash Chandra insolvency case
Who said what2
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Amit Kumar Nag
Partner at AQUILAW
1 quote · 1 outlet
“However, RPs are not forensic investigators and do not have unlimited access to information relating to the corporate debtor, its promoters, connected entities or external investigations”
In the article
…Partner, AQUILAW, said resolution professionals can identify many of the red flags highlighted by the IBBI, based on their access to the corporate debtor’s books, financial statements and related-party transactions. However, RPs are not forensic investigators and do not have unlimited access to information relating to the corporate debtor, its promoters, connected entities or external investigations , he added. The concerns highlighted in recent proceedings, including those involving the Zee group, have evidently added to the regulatory focus on the integrity of the insolvency process, he added. Six indicators…
Ashish Parwani
Senior Partner at Rajani Associates
1 quote · 1 outlet
“IBBI move will encourage greater transparency and accountability among stakeholders and serve as a deterrent against using the insolvency process for purposes inconsistent with the objectives of the IBC”
In the article
…insolvency process. It has placed an added dimension to the IP’s role, requiring the need for appropriate enquiry to be balanced with the fundamental objective of the IBC of achieving time-bound resolution, he said. IBBI move will encourage greater transparency and accountability among stakeholders and serve as a deterrent against using the insolvency process for purposes inconsistent with the objectives of the IBC , he said. Published on September 21, 2026…
Coverage1
All filed from India
Named India · Subhash Chandra · Zee TV · Amit Kumar Nag · AQUILAW · Ashish Parwani · Insolvency and Bankruptcy Board of India · Rajani Associates · S&A Law Offices · Vijay K Singh
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