Insolvency and Bankruptcy Board of India

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Insolvency and Bankruptcy Board of India
भारतीय दिवाला और शोधन अक्षमता बोर्ड
Regulatory agency overview
Formed1 October 2016; 2 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

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.

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 Board[edit]

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

The Governing Board[edit]

Sl. No. Position Name and Designation
1. Chairperson Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India
2. Whole Time Member Mrs Suman Saxena, Whole Time Member, Insolvency and Bankruptcy Board of India.
3. Whole Time Member Sh.Navrang Saini, Whole Time Member, Insolvency and Bankruptcy Board of India.
4. Whole Time Member Mrs. Mukulita Vijayawargiya, Whole Time Member, Insolvency and Bankruptcy Board of India.

References[edit]

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

External links[edit]

Official website