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<h1>IBBI Releases Draft Regulations on Corporate Liquidation Process, Seeks Public Feedback on Proposed Improvements by May 19, 2019.</h1> The Insolvency and Bankruptcy Board of India (IBBI) has released a discussion paper and draft regulations on the corporate liquidation process under the Insolvency and Bankruptcy Code, 2016. The paper addresses issues raised by stakeholders concerning the liquidation process and emphasizes the importance of rescuing viable corporate debtors (CDs) before liquidation. It highlights the cautious approach of the Code, which prioritizes resolution and maximization of asset value. The paper discusses the framework for going concern sales and compromise or arrangement under the Companies Act, 2013. It also proposes improvements to the liquidation framework, including timelines, stakeholder consultation, and financial support. The IBBI invites public comments on the proposals by May 19, 2019.