pri IBC takes 300 days, BIFR took 5-8 yrs; IBBI not submitted any affidavit IBC takes 300 days, BIFR took 5-8 yrs; IBBI not submitted any affidavit

Dated: 1st April, 2019

To
The Editor, Business Standard
Nehru House, 4 Bahadur Shah Zafar Marg
New Delhi 110002

This has reference to an article appearing in the Business Standard dated 1st April, 2019, titled “IBC takes 300 days, BIFR took 5-8 yrs; IBBI Chief.” The article refers to an affidavit submitted by the IBBI in the NCLAT in the matter of ongoing CIRP of Essar Steel India Limited. The article goes on to quote the views/statements attributable to the said affidavit and the submissions of the Counsel.

2. Please be advised that the IBBI has not submitted any affidavit in the matter. Hence, the reference of any data or information or views of the Counsel in the matter is not the correct factual position of the IBBI.

3. You may please verify facts and figures before publishing, especially while reporting court matters. In view of the above, you are requested to clarify the correct position prominently in the next edition of the paper.

Yours faithfully,

(K. R. Saji Kumar)

Executive Director

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