Insolvency and Bankruptcy Board of India
| 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[1] |
| Regulatory agency executive |
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| Key document | |
| Website |
www |
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
IBBI will have 10 members, including representatives from the Ministries of Finance and Law, and the Reserve Bank of India.
The Governing Board
| 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. |