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of <h1>IBBI Requires Liquidators to Use eBKray Platform for Asset Auctions, Effective November 1, 2024, Under IBC 2016.</h1> The Insolvency and Bankruptcy Board of India (IBBI) mandates the use of a centralized electronic platform, eBKray, for auctioning assets under liquidation. This platform, developed with the Indian Banks' Association and managed by PSB Alliance, aims to enhance transparency and efficiency by providing detailed information on assets. Liquidators must list all unsold assets within seven days of submitting the asset memorandum. Initially launched in pilot mode, the platform will be fully rolled out after evaluation. This circular is effective from November 1, 2024, under the authority of the Insolvency and Bankruptcy Code, 2016.
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