Mandatory Use of Baanknet (formerly eBKray) Auction Platform for Liquidation

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....Insolvency Professional Agencies (By mail to registered email addresses and on the website of the IBBI) Dear Madam / Sir, Subject: Mandatory Use of Baanknet (formerly eBKray) Auction Platform for Liquidation IBBI, vide Circular No. IBBI/LIQ/81/2025 dated 10th January 2025, had directed all Insolvency Professionals (IPs) handling liquidation processes to exclusively use the Baanknet auction pla....

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....IPs shall exclusively use the Baanknet auction platform for conducting auctions for the sale of assets during the liquidation process where an auction notice is issued on or after 1st April 2025. (ii) All IPs shall clearly mention in the auction notice that: * Prospective bidders shall submit the requisite documents, including a declaration of eligibility under Section 29A of the Insolvency and....