Sebi, IBBI ink MoU to cooperate with each other on securities law, IBC
- Country:
- India
Markets regulator Sebi Tuesday said it has inked pact with Insolvency and Bankruptcy Board of India to effectively implement securities laws, and Insolvency and Bankruptcy Code (IBC). The pact provides for sharing of information with each other, subject to the limitations imposed by the applicable laws.
Moreover, the pact involves appointment of panel of insolvency professionals (IPs) as administrators under relevant regulations, the release said. "Sebi and IBBI being interested in the effective implementation of securities laws and IBC... have agreed under the MoU (Memorandum of Understanding) to co-operate with each other," the release said.
Under the MoU, the regulator and IBBI will have periodic meetings to discuss matters of mutual interest, including regulatory requirements that impact their responsibilities, research and data analysis. Besides, cross-training of staff, capacity building of insolvency professionals and financial creditors, among others will be provided under the pact. The Insolvency and Bankruptcy Code (IBC) provides for time-bound and market-determined insolvency resolution.
(With inputs from agencies.)
ALSO READ
NGO seeks early hearing in SC on plea challenging exclusion of CJI from panel meant to select CEC, Election Commissioners.
SC agrees to hear pleas challenging Election Commissioners' Act dropping CJI from panel to select CEC & ECs on Friday
Search panel meets to prepare panel of 5 candidates to fill 2 vacancies in EC: Sources
Kovind panel may submit report on simultaneous polls on Thursday
'Mother India' to 'NH 10': Exhibition of posters of women-centric films, panel discussion on Thurs