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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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