Creditor-led insolvency framework in the works: IBBI chairman Mital

India's Insolvency and Bankruptcy Board of India (IBBI) is developing a creditor-led resolution process to expedite the rescue of stressed firms. This aims to reduce the burden on the National Company Law Tribunal (NCLT) and improve recovery rates. The IBBI also advocates for a formal group insolvency framework and a new technology platform to streamline information flow.