The Insolvency and Bankruptcy Board of India (IBBI) has held that the non-availability of funds is not a valid reason for the non-opening of the liquidation bank account and warned the Insolvency Professional (IP). Ms Sonu Jain, Insolvency Professional (IP) under Section 220 of the Insolvency and Bankruptcy Code, 2016 (Code) read with Regulation 11…
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