Report on Framework for Use of Mediation under the Insolvency and Bankruptcy Code, 2016

Insolvency and Bankruptcy Board of India has issued a report on Framework for Use of Mediation under the Insolvency and Bankruptcy Code, 2016 by Expert Committee. The report recommend a mediation
framework for use in various processes under the Code that inter alia addresses the following issues:

1. Choice of mediation to be mandatory or voluntary.
2. Creating space for mediation within the timelines specified by the Code.
3. Circumstances and stages under which mediation can be referred.
4. Enforcement mechanism for mediation outcomes.
5. Meeting the cost of mediation.
6. Operational framework.
7. Infrastructure support.
8. Any other issue which the Expert Committee may like to highlight.