IBBI tightens scrutiny: Resolution professionals told to disclose related parties

The insolvency regulator has asked all the RPs to disclose their financial relationship with various stakeholders such as the corporate debtors, financial creditors and potential buyers involved in a resolution process. Market participants say the move is aimed at curbing potential misconduct by RPs. In the recent past, several cases have come to light wherein the resolution professionals have allegedly favoured a particular party during the resolution process.

from Banking/Finance-Industry-Economic Times https://ift.tt/GCZT1Jz