Insolvency and Bankruptcy Board of India


The Insolvency and Bankruptcy Board of India is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies, Insolvency Professionals and Information Utilities 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 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, Law and corporate affairs, and the Reserve Bank of India.

The Governing Board