LIQUIDATORS UNDER A WATCHFUL EYE The Insolvency and Bankruptcy Board of India have stated that bankruptcy resolutions involving sale of company’s assets have to be subject to checks and balances so that there is no abuse of any liquidation tools. Changes brought in by the board will include shifting of power to the Stakeholders Consultation Committee (SCC) who would subsequently have control over matters such as appointment of professionals and fixing of prices for auctions. Auctions dealing with sale of company’s assets are often subjected to information asymmetries including the big gap existing between buyers and sellers knowledge which usually makes the price discovery inefficient. The proposed changes by the IBBI should allow for a smoother liquidation process. Reddy and Reddy Law Firm has a skilled team of corporate lawyers ready to assist you in all matters relating to the corporate field.