Question : What has recently(November 2021) been suggested by an expert panel on tracking outcomes under the Insolvency and Bankruptcy Code ?
a. Suggestion for preparation of National Dashboard
b. Suggestion for preparation of International Dashboard
c. Both a. & b.
d. None of the above
Ans. a.
Related facts —
- The working group(expert panel) on tracking outcomes under the Insolvency and Bankruptcy Code has recently(November 2021) suggested a National dashboard based on ‘Effectiveness, Efficiency and Efficacy’ with respect to CIRP.
- Here CIRP stands for — Corporate Insolvency Resolution Process.
- According to the panel, chaired by G N Bajpai(former Sebi Chairperson), reliable real-time data is essential to assess the performance of the insolvency process.
- While proposing the creation of the national dashboard for insolvency data, the panel also said the Insolvency and Bankruptcy Board of India has made commendable efforts in publishing quarterly data on the insolvency resolution process in detail.
- The expert panel said that cross-validation of data sourced from multiple data banks is a challenge in making credible assessments.