Expert committee suggests national dashboard for ‘insolvency’ statistics

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Expert committee suggests national dashboard for ‘insolvency’ statistics

New Delhi, Nov 14 (PTI) An expert committee has suggested the preparation of a national dashboard for ‘insolvency’ data. The committee has observed that reliable data on an immediate basis is essential for assessing the performance of the insolvency process under the Insolvency and Bankruptcy Code (IBC).

Under IBC, market-linked resolution of stressed assets is done in a time bound manner. This arrangement has been in force for five years.

The Working Group, which tracks outcomes under this Code, has recommended a framework based on ‘Impact, Efficiency and Efficiency’ in relation to the Corporate Insolvency Resolution Process (CIRP).

According to the group headed by former Securities and Exchange Board of India (SEBI) chairman GN Bajpai, the data on an urgent basis is essential to assess the performance of the insolvency process.

Proposing a National Dashboard for Insolvency Data, the Working Group also noted that the Insolvency and Bankruptcy Board of India (IBBI) has made commendable efforts in publishing the quarterly data on the insolvency resolution process in detail.

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