Mandatory Use of eBKray Auction Platform for Liquidation Processes · IBBI/LIQ/81/2025
IBBI circular IBBI/LIQ/81/2025 · 10 Jan 2025
Official title
Circular - Mandatory Use of eBKray Auction Platform for Liquidation Processes
Official record
Open source pageSummary
Check the official recordWhat changed
The Insolvency and Bankruptcy Board of India (IBBI) has mandated that all Insolvency Professionals (IPs) must exclusively use the eBKray auction platform for conducting auctions during liquidation processes. This directive follows a pilot phase and aims to enhance transparency and streamline liquidation procedures. IPs are required to complete the listing of all unsold assets for ongoing liquidation cases on the eBKray platform by March 31, 2025. The mandatory use of the platform for conducting asset auctions becomes effective from April 1, 2025. This circular is issued under the powers granted by section 196 of the Insolvency and Bankruptcy Code, 2016.
What you must do
- Exclusively use the eBKray auction platform for conducting auctions for the sale of assets during liquidation.
- Complete the listing of all unsold assets in ongoing liquidation cases on the eBKray platform.
Key dates
Document text
Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001
CIRCULAR
No. IBBI/LIQ/81/2025
10th January, 2025
To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on the website of the IBBI)
Dear Madam/Sir,
Subject: Mandatory Use of eBKray Auction Platform for Liquidation Processes
In continuation of efforts to streamline the liquidation process and improve transparency, the Insolvency and Bankruptcy Board of India (IBBI), through circular No. IBBI/LIQ/78/2024 dated 29th October 2024, issued directions regarding the use of the eBKray auction platform.
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The IPs were, inter-alia, directed that they shall exclusively list the details of all the unsold assets in respect of the ongoing liquidation processes on the eBKray platform and that they may utilize the eBKray auction platform for the sale of assets in respect of ongoing cases for auctions.
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The platform has received an encouraging response since its introduction. To date, 210 assets have been listed, and 25 auctions have been scheduled or conducted on the platform. The platform is presently running on a pilot mode and will be improved based on the experiences of usage.
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In this regard, all IPs handling liquidation processes are hereby directed to exclusively use the eBKray auction platform for conducting auctions for sale of assets during the liquidation process with effect from 1st April 2025. It is further directed that listing of unsold assets in all ongoing liquidation cases shall be completed by 31st March 2025.
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This is issued in exercise of the powers conferred under section 196 of the Insolvency and Bankruptcy Code, 2016.
Yours faithfully, -Sd- (Rajesh Tiwari) General Manager
Source details
- Source
- Insolvency and Bankruptcy Board of India
- Type
- circular
- Published by source
- 10 Jan 2025
- Document number
- IBBI/LIQ/81/2025
- Issuing division
- Insolvency and Bankruptcy Board of India
- Effective date
- 01 Apr 2025
- Coverage area
- insolvency