The Ministry of Corporate Affairs has initiated a comprehensive consultation process for a proposed integrated digital platform designed to streamline insolvency processes and enhance transparency under the Insolvency and Bankruptcy Code (IBC). According to reports from TeamLease RegTech Legal Research Team, the ministry seeks stakeholder feedback on this transformative technology initiative that aims to support end-to-end digital workflows and facilitate real-time information exchange among authorized stakeholders. The platform is specifically designed to reduce dependence on manual processes across the insolvency lifecycle while bringing together various stakeholders, processes and technology systems under the IBC framework. As reported by TeamLease RegTech Legal Research Team, stakeholders can now submit their suggestions for the proposed iPIE platform until August 3, 2026, with the ministry seeking comments from insolvency professionals, creditors, industry bodies, academia and other stakeholders before finalising the platform's design and functionality.
The proposed platform, known as the iPIE (Integrated Platform for Insolvency Ecosystem), will integrate information from key institutions including the National Company Law Appellate Tribunal (NCLAT), National Company Law Tribunal (NCLT), MCA, Insolvency and Bankruptcy Board of India (IBBI), Information Utilities and Insolvency Professionals. As reported by TeamLease RegTech Legal Research Team, the platform will also integrate Registered Valuers and other stakeholders into a common technology framework. The ministry emphasized that the current IBC ecosystem operates on multiple standalone systems requiring manual coordination and information exchange among stakeholders. According to TeamLease RegTech Legal Research Team, the proposed platform seeks to address these gaps by creating a common technology framework that allows seamless integration and real-time exchange of information across these systems, with the platform providing a consolidated data repository to enable statistical and predictive analysis capabilities.
The iPIE framework will provide comprehensive functionality including logged activities such as claim submission, verification, admission, rejection, data and document access, upload, download, editing and deletion. According to the consultation paper reported by TeamLease RegTech Legal Research Team, the platform will efficiently organize and process claims from creditors through a streamlined interface for submission, verification and admission, enhancing transparency and compliance in the claims-handling process. The platform will include modules covering user registration, case initiation, claims management, stakeholder management, records management, resolution and liquidation processes, compliance management, litigation management, finance, MIS dashboards, and digital services such as e-voting, virtual data rooms, document management, communication tools, chatbots, and digital signatures. The system will also include a module to store and manage all stakeholder information and effectively communicate with stakeholders involved in or impacted by the insolvency process.
The MCA has appointed KPMG Advisory Services Pvt. Ltd. as the Project Management Unit and CMS Computers India Pvt. Ltd. as the System Integrator (SI) for this project implementation. As reported by TeamLease RegTech Legal Research Team, stakeholders, professionals, institutions, industry bodies, and academia may submit their suggestions in the prescribed format via email to [email protected] on or before August 03, 2026. According to TeamLease RegTech Legal Research Team, the ministry emphasized the cross-functional nature of the platform and its potential impact on a wide range of stakeholders, stating that incorporating diverse perspectives in shaping the platform's design and functional scope at an early stage is paramount. Finance and Corporate Affairs Minister Nirmala Sitharaman first proposed this integrated technology platform in the Union Budget 2024-25 to improve outcomes under the IBC.
Despite the IBC's structured framework, significant performance gaps persist in the insolvency resolution process. According to IBBI data reported by Business Standard, the time taken for total corporate insolvency resolution process has increased every year, reaching 744 days as of March 2026, against the mandated time limit of 330 days. Additionally, realisations under the IBC stood at 30.56 per cent as of March 2026, compared with 32.8 per cent a year earlier, while realisations as a percentage of liquidation value declined from 170 per cent as of March 2025 to 167 per cent as of March 2026. The proposed platform aims to address these challenges by digitizing the entire insolvency lifecycle from commencement to resolution and liquidation, reducing manual intervention and enhancing transparency in proceedings.
