Insolvency and Bankruptcy Board of India

The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India. It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016.It covers Individuals,Companies,Limited Liability Partnerships and Partnership firms. The new code will speed up the resolution process for stressed assets in the country. It attempts to simplify the process of insolvency and bankruptcy proceedings.It handles the cases using two tribunals like NCLT(National company law tribunal) and Debt recovery tribunal.

Insolvency and Bankruptcy Board of India
भारतीय दिवाला और शोधन अक्षमता बोर्ड
Regulatory agency overview
Formed1 October 2016; 3 years ago (2016-10-01)
JurisdictionGovernment of India
HeadquartersMayur Bhawan, Shankar Market, Connaught Circus, New Delhi[1]
Regulatory agency executive
  • M. S. Sahoo, Chairperson
Key document
Websitewww.ibbi.gov.in

Mrs. Suman Saxena former Deputy CAG of India appointed as Whole Time Member of IBBI

Navrang Saini appointed as whole time member of IBBI. Mrs. Mukulita Vijayawargiya appointed as whole time member of IBBI.

IBBI Governing BoardEdit

IBBI will have 10 members, including representatives from the Ministries of Finance, Law and corporate affairs, and the Reserve Bank of India.

The Governing BoardEdit

Sl. No. Position Name and Designation
1. Chairperson Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India
2. Whole Time Member Mr.Sudhakar Shukla, Whole Time Member of IBBI.
4. Whole Time Member Mrs. Mukulita Vijayawargiya, Whole Time Member, Insolvency and Bankruptcy Board of India.
5. Ex-officio Member Dr. Shashank Saksena, Adviser (Capital Markets), Department of Economic Affairs, Ministry of Finance
6. Ex-officio Member Sh. Gyaneshwar Kumar Singh, Joint Secretary, Ministry of Corporate Affairs
7. Ex-officio Member Dr. Rajiv Mani, Joint Secretary and Legal Adviser, Department of Legal Affairs, Ministry of Law & Justice.
8. Ex-officio Member Sh. Unnikrishnan A, Legal Adviser, Reserve Bank of India
9. Part Time Member Dr. Krishnamurthy Subramanian, Chief Economic Advisor
10. Part Time Member Sh. B. Sriram, Former Managing Director & CEO of IDBI Bank Ltd.

ReferencesEdit

  1. ^ "Contact". Insolvency and Bankruptcy Board of India. Retrieved 20 February 2018.

External linksEdit

Official website