ARTICLE
10 January 2025

Centralised Electronic Listing And Auction Platform For The Sale Of Assets Under Liquidation Process

J
JSA

Contributor

JSA is a leading national law firm in India with over 600 professionals operating out of 7 offices located in: Ahmedabad, Bengaluru, Chennai, Gurugram, Hyderabad, Mumbai and New Delhi. Our practice is organised along service lines and sector specialisation that provides legal services to top Indian corporates, Fortune 500 companies, multinational banks and financial institutions, governmental and statutory authorities and multilateral and bilateral institutions.
The Insolvency and Bankruptcy Board of India, vide circular dated October 29, 2024, has collaborated with the Indian Banks' Association ("IBA") to facilitate the auction of assets through the eBKray platform.
India Finance and Banking

The Insolvency and Bankruptcy Board of India, vide circular dated October 29, 2024, has collaborated with the Indian Banks' Association ("IBA") to facilitate the auction of assets through the eBKray platform. eBKray is owned and managed by PSB Alliance Private Limited (a consortium of 12 (twelve) public sector banks) ("PSB Alliance"). PSB Alliance has developed a module within the platform which offers detailed information on corporate debtor assets, including photographs, videos and geographical coordinates. By enhancing transparency and efficiency through advanced technology, eBKray aims to increase bidder participation, streamline operations, and maximise returns for creditors while improving outcomes for bidders. It will be a single listing platform to host all assets being sold in liquidation cases.

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