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.
|भारतीय दिवाला और शोधन अक्षमता बोर्ड|
|Regulatory agency overview|
|Formed||1 October 2016|
|Jurisdiction||Government of India|
|Headquarters||Mayur Bhawan, Shankar Market, Connaught Circus, New Delhi|
|Regulatory agency executive|
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.|
- "Contact". Insolvency and Bankruptcy Board of India. Retrieved 20 February 2018.