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The insolvency regulator IBBI has reconstituted the Advisory Committee on Corporate Insolvency Resolution and Liquidation process. This panel, which would be chaired by Uday Kotak, Executive Vice Chairman and Managing Director, Kotak Mahindra Bank, comprises of 13 members besides the Chairman.
This Advisory Committee will advise and provide professional support— on a request from the IBBI or on its own volition—on any matter relating to the Corporate Insolvency resolution and liquidation dealt with by the Board under the Insolvency and Bankruptcy Code 2016, official sources said.
Most members will have a term of three years—up to June 11, 2023. The members of this high-powered panel include Ajay Piramal, Chairman, Piramal Group & Shriram Group; Ashish Kumar Chauhan, Managing Director & CEO, BSE Limited; Ashu Suyash, Managing Director & CEO, CRISIL; M.V. Nair, Chairman, Credit Information Bureau (India) Limited; R Shankar Raman, Wholetime Director & Chief Financial Officer, Larsen & Toubro Limited; Rashesh Shah, Chairman & CEO, Edelweiss Group and Somasekhar Sundaresan, a Legal Counsel.
The Insolvency and Bankruptcy Board of India (IBBI) had earlier constituted the Advisory Committee on Corporate Insolvency and Liquidation in August 2017. Uday Kotak was Chairman of this panel on that occasion too.
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