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of <h1>Regulation 39BA mandates considering compromises during corporate liquidation decisions under section 33 of Insolvency Regulations 2016.</h1> Regulation 39BA of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, mandates that when deciding to liquidate a corporate debtor under section 33, the committee must consider the possibility of a compromise or arrangement. This consideration is in line with regulation 2B of the Liquidation Process Regulations, 2016. The resolution professional must submit the committee's recommendation to the Adjudicating Authority. If a recommendation is made, both the resolution professional and the committee should continue exploring compromise or arrangement options while the liquidation application is pending.
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